The Government of Nagaland has announced a groundbreaking partnership with Tata AIA Life Insurance to launch the Chief Minister’s Universal Life Insurance Scheme (CMULIS). This initiative is set to provide life insurance coverage of INR 2 lakh for primary earning members aged 18 to 60, particularly benefiting residents working in unorganized sectors and low-income groups.
Chief Minister Neiphiu Rio highlighted the importance of 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.” With the state government covering the insurance premium, accessibility is prioritized for all eligible residents.
The scheme is expected to significantly impact Shillong. As families secure life insurance, financial stability may encourage increased consumer spending on essential goods and services. This boost in confidence can lead to greater demand within local markets, stimulating economic activity. Overall, the CMULIS represents a strategic investment in the well-being of Nagaland’s citizens, with potential positive ripple effects across neighboring markets.
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