LIC Grace Period Calculator

Find the exact last date to pay your LIC premium before the policy lapses — calculated in your browser, with no login, OTP or bank details.

Premium due date

Payment mode

Calculated in your browser — no data sent, no login, no bank details. Grace period is 15 days for monthly mode; for all other modes it is one month (at least 30 days) (LIC of India). This is a reminder tool, not investment advice — confirm exact dates with your LIC branch or policy document.

How the LIC grace period works

After your premium due date, LIC gives you a short grace period to pay without the policy lapsing. The length depends on your payment mode:

Monthly mode — 15 days from the due date.
Quarterly, half-yearly and yearly modes — 30 days (one month) from the due date.

If you pay within the grace period, your policy stays fully in force and your life cover continues without a break — the premium is accepted without interest (a few plans differ), and the policy is not treated as lapsed. (If a NACH/ECS auto-debit bounced, your bank may levy a dishonour charge, but that is separate from LIC.) The calculator adds the right number of days to the due date you enter, then suggests a reminder about a week earlier so you always have time to act.

What happens if you miss the grace period

If the premium is still unpaid when the grace period ends, the policy lapses and the life cover stops. To restart it you must revive the policy — usually allowed within about five years of the first missed premium — by paying all overdue premiums with interest and, in many cases, submitting a Declaration of Good Health (DGH). Reviving an older lapsed policy can mean extra paperwork and cost, which is exactly why catching the date early matters.

Why set a reminder

A 15- or 30-day window is easy to miss — especially with several policies, or premiums for a spouse, parents or children. Savings Reminder lets you save the due date once and get an email reminder before every grace period ends, so a policy never lapses by accident. You enter the details yourself: there is no bank login, no OTP, and no PAN or Aadhaar required.

Grace-period rules are from LIC of India policy terms (licindia.in). This is a reminder tool, not investment advice — confirm exact dates with your LIC branch or policy document.

Frequently asked questions

What is the LIC grace period?

It is the time after your premium due date during which you can still pay without the policy lapsing — 15 days for monthly mode and one month (at least 30 days) for quarterly, half-yearly and yearly modes.

What happens if I pay after the grace period ends?

The policy lapses and life cover stops. You can revive it within the revival period allowed for your plan (commonly up to five years, but it varies by plan) by paying the overdue premiums with interest, and LIC may require a Declaration of Good Health or medical evidence.

Is there a penalty for paying within the grace period?

No lapse — the policy stays in force. A premium paid within the grace period is accepted without interest (a few plans differ). If a NACH/ECS auto-debit bounced, your bank may levy a dishonour charge — that's separate from LIC.

Does this calculator need my policy number or bank login?

No. It runs entirely in your browser — no login, OTP, PAN, Aadhaar or bank access. You enter the due date and mode yourself.