Introducing a landmark welfare measure, Nagaland chief minister Neiphiu Rio on Tuesday announced a fully-funded Chief Minister’s Universal Life Insurance Scheme (CMULIS) to mitigate financial hardship due to untimely demise of a family’s breadwinner. The announcement was made by Rio while presenting the budget 2024-25 on Tuesday.
CMULIS will provide life insurance coverage of Rs 2 lakh on the demise of the breadwinner due to any cause. Additionally, accidental insurance coverage of Rs 2 lakh each will also be provided for the breadwinner and three other family members, Rio said.
The accidental insurance component covers both disability and death. In case of accidental death, the sum insured is Rs 2 lakh per beneficiary, Rs 2 lakh in case of total and irrecoverable loss of both eyes or loss of use of both hands or feet, and Rs 1 lakh for total and irrecoverable loss of sight of one eye or loss of use of one hand or foot. Rio said that the scheme will cover every household in Nagaland and a provision of Rs 15 crore has been provided to pay the cost of premium.