Nagaland Universal Life Insurance Scheme 2024: Apply Online, Eligibility, Benefits

Nagaland Universal Life Insurance Scheme:- The Nagaland government launched a fully-funded universal life insurance program on Tuesday to lessen the financial strain caused by the premature death of a family’s primary earner. Neiphiu Rio, the Chief Minister and Minister in Charge of Finance presented the state assembly with the budget on Tuesday, which includes the entire scheme. Read below to check the detailed information related to Nagaland Universal Life Insurance Scheme like Highlights, Objectives, Features & Benefits, Eligibility Criteria, Documents Required, Registration Process, and much more

Nagaland Universal Life Insurance Scheme 2024 

Nagaland Universal Life Insurance Scheme 2024 

A fully-funded universal life insurance policy was announced by the Nagaland government on Tuesday to ease financial burdens caused by the premature death of a family’s principal breadwinner. The project was part of the budget that Nagaland Chief Minister Neiphiu Rio proposed to the state assembly. Both death and disability are covered by the accidental insurance component. The total insured in the event of accidental death is Rs 2 lakh per beneficiary; in the event of a total and irreversible loss of sight in one eye or a total and irreversible loss of use in one hand or foot, it is Rs 2 lakh; and in the event of a total and irreversible loss of both eyes, it is Rs 1 lakh.

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Nagaland Universal Life Insurance Scheme Details in Highlights

NameNagaland Universal Life Insurance Scheme
Initiated byGovernment of Nagaland
Introduced byNagaland Chief Minister Neiphiu Rio
StateNagaland
BeneficiariesResidents of Nagaland
Official Website

Nagaland Universal Life Insurance Scheme Objective

The primary goal of the CM’s life insurance scheme is to mitigate the impact of the early death of a family’s primary earner on the family’s socioeconomic progress, health, and educational opportunities. The program will cover three more family members’ accidental injuries in addition to life insurance for the family’s primary provider.

Nagaland CM Health Insurance Scheme 

Features & Benefits of Nagaland Universal Life Insurance Scheme

Some of the key features and benefits of the scheme are as follows:

  • Every household in Nagaland will be covered by this policy, and the cost of the premiums will be covered by a provision of Rs 15 crore.
  • The program will provide three more family members in the state with accidental insurance as well as life insurance for the family’s major earner.
  • The policy will cover Rs 2 lakh in life insurance for the primary earner and an extra Rs 2 lakh in accidental insurance for each of the other three family members.
  • It would also cover every home in Nagaland, and Rs 15 crore has been set aside to pay for the charges.
  • The budget was presented on the second day of the current State Assembly session by CM Rio, who also holds the position of Finance Minister.
  • It is predicted that gross receipts will amount to Rs 23,978.05 crore, and gross expenditures will amount to Rs 23,727.88 crore.
  • Additionally, each constituency’s allocation to the Local Area Development Fund (LADF) has increased from Rs 1 crore to Rs 2 crore.
  • An amount of Rs 180 crore has been sanctioned under PM DevINE for the areas of Eastern Nagaland, given the continued relevance of issues of the people living there.
Required Documents to Apply

Some of the important documents required for the scheme are as follows:

  • Aadhaar Number
  • Address Proof
  • Mobile Number
  • Account number
  • Email Id, etc

Nagaland Voter List

Eligibility Criteria for Nagaland Universal Life Insurance Scheme

The applicants applying for the scheme must fulfill the following eligibility criteria:

  • The applicant must be a resident of Nagaland.
  • A family undergone the premature death of a family’s primary earner is eligible for the scheme.
  • Both death and disability are covered by the accidental insurance scheme.

Registration Process for Nagaland Universal Life Insurance Scheme

The Government of Nagaland has recently introduced the life insurance scheme. The government has not yet published the official website for this; however, the government will do so shortly. We will update this post as soon as there is a fresh update on this plan.

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