The Government of Nagaland has announced a collaboration with Tata AIA Life Insurance to launch the Chief Minister’s Universal Life Insurance Scheme (CMULIS). This comprehensive scheme will provide life insurance coverage of INR 2 lakh to primary earning members aged 18 to 60, particularly benefiting those employed in unorganized sectors and low-income groups.
Chief Minister Neiphiu Rio expressed enthusiasm for the scheme, 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.” The government will cover the insurance premiums, ensuring broad accessibility for all eligible residents.
In Imphal, the introduction of CMULIS is expected to foster economic growth. As families secure life insurance, their enhanced financial stability will likely lead to increased consumer spending on local goods and services. This boost in consumer confidence can stimulate demand, encouraging investment in local businesses and contributing to a more vibrant economic environment in Imphal.