The Nagaland government has recently introduced the Nagaland Universal Life Insurance Scheme, aimed at easing the financial strain faced by families in the event of the premature death of their primary breadwinner. Led by Chief Minister Neiphiu Rio, this fully-funded initiative seeks to offer vital financial assistance to families grappling with such challenging circumstances. Let’s explore the scheme in detail.
Nagaland Universal Life Insurance Scheme
Presented as part of the state budget to the Nagaland State Assembly, the Nagaland Universal Life Insurance Scheme provides extensive coverage for both death and disability. Each beneficiary is entitled to insurance coverage of up to Rs 2 lakh in the event of accidental death, with additional coverage for specific disabilities.
Key Features of the Scheme
- Name: Nagaland Universal Life Insurance Scheme
- Initiated by: Government of Nagaland
- Introduced by: Nagaland Chief Minister Neiphiu Rio
- State: Nagaland
- Beneficiaries: Residents of Nagaland
- Official Website: Not available yet
Objectives of the Scheme
The primary objective of this scheme is to mitigate the impact of the premature death of a family’s primary earner on their socio-economic progress, health, and educational opportunities. Furthermore, it aims to extend coverage to three additional family members for accidental injuries, thereby offering comprehensive protection.
Features & Benefits
- Comprehensive coverage for every household in Nagaland.
- Premium costs covered by a provision of Rs 15 crore.
- Rs 2 lakh life insurance for the primary earner and additional accidental insurance for three family members.
- Budget presented by CM Rio, who also serves as the Finance Minister, detailing gross receipts and expenditures.
- Increased allocation to the Local Area Development Fund (LADF) for each constituency.
- Rs 180 crore sanctioned under PM DevINE for Eastern Nagaland areas.
Eligibility Criteria
Applicants must be residents of Nagaland, and families affected by the premature death of their primary earner automatically qualify for the scheme. Both death and disability are covered under the accidental insurance component.
Registration Process
While the official registration website is yet to be launched, interested individuals can stay updated by visiting the official website of the Nagaland government at https://nagaland.gov.in/. Regular updates on the scheme will be provided here. The official Circular pertaining to this scheme can be found here.
Required Documents
Essential documents such as Aadhaar Number, Address Proof, Mobile Number, Account Number, and Email ID are necessary for application.
In conclusion, the Nagaland Universal Life Insurance Scheme serves as a beacon of hope for families facing financial uncertainty due to unforeseen circumstances. By offering comprehensive coverage and support, it aims to foster resilience and stability within the community.
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Nagaland Universal Life Insurance Scheme FAQs:
What is the Nagaland Universal Life Insurance Scheme?
The Nagaland Universal Life Insurance Scheme is a recent initiative introduced by the Nagaland government to provide financial assistance to families in the event of the premature death of their primary breadwinner.
Who initiated the scheme?
The scheme was initiated by the Government of Nagaland under the leadership of Chief Minister Neiphiu Rio.
Who can benefit from the scheme?
Residents of Nagaland are the primary beneficiaries of the Nagaland Universal Life Insurance Scheme.
Are there any specific objectives for the scheme?
Yes, the primary objective is to alleviate the financial strain faced by families due to the premature death of their primary earner. Additionally, it aims to extend coverage to three additional family members for accidental injuries.
What are the key features of the scheme?
The scheme offers comprehensive coverage for every household in Nagaland, with premium costs covered by a provision of Rs 15 crore. It provides Rs 2 lakh life insurance for the primary earner and additional accidental insurance for three family members.
How can one apply for the scheme?
While the official registration website is yet to be launched, interested individuals can stay updated by visiting the official website of the Nagaland government at https://nagaland.gov.in/.
What are the eligibility criteria for applicants?
Applicants must be residents of Nagaland, and families affected by the premature death of their primary earner automatically qualify for the scheme. Both death and disability are covered under the accidental insurance component.
What documents are required for application?
Essential documents such as Aadhaar Number, Address Proof, Mobile Number, Account Number, and Email ID are necessary for application.
Is there any official circular available for reference?
Yes, the official Circular pertaining to this scheme can be found on the official website of the Nagaland government.
What is the overall goal of the Nagaland Universal Life Insurance Scheme?
The scheme aims to provide comprehensive coverage and support to families facing financial uncertainty due to unforeseen circumstances, fostering resilience and stability within the community.
