Tata AIA Life Insurance, one of India’s leading life insurers, has been selected by the Government of Nagaland to implement the Chief Minister’s Universal Life Insurance Scheme (CMULIS). This initiative aims to provide financial security to families by offering a life insurance cover of Rs 2 lakh to the primary earning member of each household.
“This scheme aims to give families the financial support they need in the unfortunate event of the demise of the breadwinner. It is specifically aimed at helping the vulnerable sections of society, such as those working in unorganized sectors or are part of low-income groups,” an update received here said.
As part of the scheme, any one family member in the age group 18-60 years can be designated as the primary earning member or breadwinner.
“Government employees in the same age group will automatically be considered as the primary breadwinner for their family. The state government will cover the cost of the insurance premium,” it said.
“Through this program, we are making life insurance accessible to Naga people. We hope to enroll all earning population in Nagaland under this scheme, thereby ensuring the financial security of several families,” Nagaland Chief Minister Neiphiu Rio said.
Tata AIA Life Managing Director & CEO Venky Iyer said that this inclusive scheme will ensure financial security and peace of mind for the families of Nagaland.