Tata AIA Partners with Nagaland for Universal Life Insurance

Tata AIA Life Insurance has teamed up with the Nagaland government to implement the Chief Minister's Universal Life Insurance Scheme, providing Rs 2 lakh coverage for primary earners in low-income families, particularly those in unorganised sectors. The scheme seeks to enhance financial security for Nagaland families.

Tata AIA Life Insurance has been appointed by the Nagaland government to execute the Chief Minister's Universal Life Insurance Scheme (CMULIS). This initiative aims to offer life insurance coverage of Rs 2 lakh to the designated primary earning member of a family.

The scheme, as announced, focuses on providing financial aid to vulnerable families, especially in the event of the death of their chief breadwinner. It targets unorganised sector workers and low-income groups to ensure support and financial stability.

The age criteria for the primary earning member spans 18-60 years, including government employees who will naturally be recognized as family breadwinners. The Nagaland state administration will absorb the premium costs, enhancing accessibility to life coverage. Chief Minister Neiphiu Rio and Tata AIA Life CEO Venky Iyer expressed optimism about the scheme's potential to secure family futures across the region.

(With inputs from agencies.)