The Government of Nagaland has announced the launch of the Chief Minister’s Universal Life Insurance Scheme (CMULIS) in partnership with Tata AIA Life Insurance. This initiative provides a life insurance policy worth INR 2 lakh for primary earning members of families aged 18 to 60, focusing on individuals in unorganized sectors and low-income groups.
Chief Minister Neiphiu Rio emphasized the scheme’s significance, stating, “I am extremely happy to partner with Tata AIA Life Insurance and launch this scheme for the working population of Nagaland. We hope to enroll all earning individuals in Nagaland under this scheme, thereby ensuring the financial security of several families.”
In Aizawl, this initiative is expected to have a ripple effect. Increased life insurance coverage can lead to enhanced financial security, encouraging local consumers to engage more confidently in economic activities. As families feel more secure, spending on essential goods and services is likely to rise, stimulating business growth and investment in the area. With a target of covering around 3.5 lakh residents, CMULIS represents a substantial commitment to financial inclusion in Nagaland.
