Bajaj Allianz Life Insurance has announced a Special Revival Campaign to help policyholders renew their lapsed life insurance policies if they fall under the prescribed revival period.

According to a release issued by the company, the campaign is for traditional life insurance policies only. The campaign is currently underway and will continue till the month-end. However, it could be extended further, the company said.

Under this campaign, policyholders can enjoy a 50 per cent waiver of the interest amount on traditional policies. Revival of the holder’s life insurance policy will ensure continuance of life cover, tax advantages and bonus for the period during which the policy has lapsed.

Last year, Bajaj Allianz Life Insurance revived 1,85,056 policies through this campaign in eight months. This year the company has received a better response with revival of 33,805 policies in about a month’s time.

Anuj Agarwal, MD & CEO of Bajaj Allianz Life Insurance, said, “Some policyholders often face difficulty in renewing their life insurance policies owing to financial crises or unforeseen situations. The campaign is aimed at extending a helping hand to such customers to revive their life insurance cover, which was discontinued due to non-payment of renewal premiums.”

This scheme, the first announced in the private life insurance space this year, is being communicated to customers and the sales team via SMS, calls and letters.

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