Tata AIA Life Insurance has been selected by the Government of Nagaland to implement the Chief Minister’s Universal Life Insurance Scheme (CMULIS). Under this scheme, the primary earning member of the family will be provided with a life insurance cover of INR 2 lakh.
This scheme provides financial support to families in the unfortunate demise of the breadwinner, specifically aimed at helping the vulnerable sections of society, such as those working in unorganised sectors or are part of low-income groups.
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.
Commenting on this occasion, Neiphiu Rio, Chief Minister, Nagaland said, “I am extremely happy to partner with Tata AIA Life Insurance and launch this scheme for the working population of Nagaland. Through this program, we are making Life Insurance accessible to Naga people. We hope to enrol all earning population in Nagaland under this scheme, thereby ensuring the financial security of several families.”
Venky Iyer, Managing Director and CEO, Tata AIA Life Insurance, said, “This landmark initiative by the Government will ensure that the people of Nagaland especially those in vulnerable segments or employed in unorganised sectors benefit from the safety net of life insurance”
Jeelani Basha, President & Chief Distribution Officer, Tata AIA Life Insurance, said, “Our partnership with the Government of Nagaland will enable us to provide life insurance coverage to nearly 3.5 lakh people in the State.”