Can I revive my policy if I haven’t cancelled or surrendered it or paid the premium after the 1st year? 

Yes, if the status of your current policy is lapsed or unpaid as you haven’t paid the premium amount after the 1st year, you can revive the policy subject to the following: 

• You must apply for revival within 5 years from the due date of the first unpaid premium.
• You must pay premiums, arrears, and the interest. The interest rate will be decided by the insurance provider. The current applicable revival interest is 9% per annum compounded half- yearly. 
  Important: These charges are inclusive of applicable taxes.
• You must submit documents as proof of good health
• Your policy may be revised based on terms that are different from those that were applicable before your policy lapsed as you didn’t pay the due amount. The current board approved underwriting guidelines of the insurance provider will determine these terms. 
• You can consider your policy as revived only if you receive a confirmation from the insurance provider.
• Your policy may or may not be revived based on the prevailing board approved underwriting guidelines. If your policy is not revived, only the money that you paid for policy revival will be refunded by the insurance provider.
• After your policy is revived, the sum assured on death and the maturity amount will be the same as the ones before the lapse or non-payment of dues. 

Note: For any other queries regarding policy revival, please contact your insurance provider.