What is FUP in LIC?

The Life Insurance Corporation of India offers many provisions to its customers to keep their policies in force. To keep their policies active and claim benefits, all due premiums must be paid on time. If you miss your premium payment, LIC offers opportunities to do so without charges starting from the First Unpaid Premium (FUP) till the end of the grace period.

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What Does FUP in LIC Mean?

FUP in LIC stands for First Unpaid Premium. It refers to the failure to pay the premium amount on the due date for the first time by the policyholder. When you pay a due premium amount for a particular month, quarter or year, a receipt is issued to you with details on the next due premium. In case you do not make the payment on this date, it becomes the date of the first unpaid premium. 

Policy Revival and FUP in LIC

Insurance is an extremely crucial investment if you have dependents to look after. LIC’s insurance products are designed to offer comprehensive financial protection to the beneficiaries of a deceased policyholder. However, the benefits under an insurance product by LIC stand to be canceled if premium payments are not duly made. Your family stands to lose the most if your life insurance policy is canceled, given that no benefit shall be payable to them by the insurer on your death. 

At this stage, it is important to underscore the advantages of timely premium payments for LIC policies

  • Premium payments on time keep your policy in force and all the benefits intact. 

  • You can avoid paying interest during policy revival. 

  • You can apply for loans wherever applicable.

  • Your beneficiary will receive the complete benefit amount on your demise. 

  • It eliminates the need for fresh medical check-ups during policy revival. 

If you miss the first premium payment, LIC offers a period of 30 days to 5 years to complete due payments and keep the policy in force. 

  1. FUP in LIC: Revival During Grace Period

    The grace period is the only duration that lets you pay the first unpaid premium amount without interest or incurring any charges or losing benefits. Note that the grace period is only 15 days from the date of the first unpaid premium for monthly payment modes and 30 days for quarterly, half-yearly, and yearly payments. 

  2. FUP in LIC: Revival After Grace Period

    If you miss paying the first unpaid premium beyond the grace period, LIC charges a penalty on the premium amount at a rate of nearly 9.5%. Note that you can only revive a policy within 5 years from the date of the first unpaid premium upon paying the due arrears of premiums with the interest rate. A policy cannot be revived after the end of the policy term. Further, revival within this period is further subject to approval by LIC on the submission of proof of insurability. Post 5 years from the first unpaid premium, your policy lapses without benefits. 

  3. FUP in LIC: Revival Within 6 Months

    Should a policyholder choose to revive a policy within 6 months from the date of the first unpaid premium, (s)he can do so on the submission of the delayed premium along with interest. However, no other medical proof is required in such cases. 

  4. FUP in LIC: Death Claim Concessions

    The death benefit is payable to beneficiaries if the life assured dies within 6 months from the date of the first unpaid premium after having paid premiums for a minimum of 3 years. The death benefit amount will be subject to deductions of unpaid premiums plus interest till the date of death. A similar condition applies if death occurs within 12 months from the date of FUP on paying at least 5 full years' premiums.

How to Know the Due FUP Amount in LIC?

You can register or log in to LIC’s e-portal. The process is detailed below:

  • Visit LIC’s website and go to Customer Portal.

  • Click on New User if you are new to the portal, or else click on Registered User. 

  • If you are a new user, you will be asked to choose a user ID and password. 

  • Login to your new account.

  • Under Basic Services, choose Add Policy to enroll your LIC policies. 

  • You can visit this section for details on the first unpaid premium. 

If you are a registered user, you can simply log in to your account and check the policy details of those enrolled. 

Alternatively, you can use the My LIC application on your phone. Once you insert your policy number, you will see the Next Due Date of premium payment. If you do not pay by this date, it shall become the date of the first unpaid premium.


  • What is the Auto Cover benefit?

    Ans. The complete death benefit shall be payable if death occurs within two years from the first premium that is unpaid if at least two full years’ premiums have been previously paid. This is known as the Auto Cover benefit. 
  • Is medical proof required to revive LIC policies?

    Ans. If the policy is being revived within 6 months from the first unpaid premium (FUP), no proof of insurability is required. Post this period, a policy can only be revived at the discretion of the insurer. 
  • How much interest is charged for late premium payments?

    Ans. The interest tends to vary and is regulated by the IRDAI. At present, LIC charges anywhere between 8% to 9% interest on late premium payments. 
  • What is the significance of the first unpaid premium?

    Ans. The first unpaid premium defines the benefit amount that your beneficiaries shall be entitled to on your demise. If at least 2 to 3 years’ premiums have been made before the first unpaid premium, you can expect some percentage of the assured benefits to be offered to the beneficiaries, subject to pro-rated risk premium deductions.
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