Despite high awareness, term plan ownership is low among urban Indians, shows a Max Life Insurance survey. The Max Life Insurance India Protection Quotient 6 survey was done in partnership with Kantar. The survey was conducted among 4,700 urban Indians across 25 cities. IPQ is the degree to which Indians feel protected from future uncertainties. IPQ 6 survey.
Here are more findings from the Max Life IPQ 6 survey.
India’s Protection
Quotient rises to 45
Medical expenses major concern
Kids’ goals top reason for saving
Cover size nearly as important a factor as premium for buying term plan
Barriers to buying term plans: 1 in 4 prefer health to life insurance
Working women buying more gold, health insurance
1 in 2 have sufficient life insurance
GenZ least secure financially
Source: Max Life Insurance India Protection Quotient 6 survey, in partnership with Kantar. The survey was conducted among 4,700 urban Indians across 25 cities. IPQ is the degree to which Indians feel protected from future uncertainties.
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