KOHIMA: 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), under which the primary earning member of the family will be provided with a life insurance cover of Rs 2 lakh.
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.
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 the partnership, Neiphiu Rio, Chief Minister of 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 enroll all earning population in Nagaland under this scheme, thereby ensuring the financial security of several families.”
Venky Iyer, Managing Director & Chief Executive Officer of 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 unorganized sectors, benefit from the safety net of life insurance. This inclusive scheme will ensure financial security and peace of mind for the families of Nagaland.”
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. We are committed to working together with the Government in this initiative.”
