Tata AIA Partners with Nagaland Govt for Life Insurance Scheme

New Delhi, Oct 15 (PTI) Tata AIA Life Insurance (Tata AIA) has been selected by the Nagaland government 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 Rs 2 lakh, the insurer said in statement on Tuesday.

This scheme aims to give families the needed financial support in an unfortunate event of the demise of the primary earning member, it said.

It is specifically aimed at helping the vulnerable sections of society, such as those working in unorganised sectors or are part of low-income groups, it 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.