Survey this yr has mirrored a superior uptake in ladies’s life and time period insurance coverage possession.
Urban ladies in India emerged financially extra resilient than males within the backdrop of the pandemic. Max Life Insurance’s ‘India Protection Quotient (IPQ) 3.0 in affiliation with KANTAR revealed that 67% of city Indian ladies embraced life insurance coverage to guard themselves in opposition to rising insecurities. In a welcome change, the survey this yr has mirrored a superior uptake in ladies’s life and time period insurance coverage possession and consciousness, marking progress in a optimistic course.
It can also be value noting that whereas a lesser 69% working ladies owned life insurance coverage versus 73% working males, the previous was discovered to be extra attitudinally safe throughout Covid-19; 59% working ladies in comparison with 57% working males had been discovered to be financially safe.
Notably, their notion of time period insurance coverage as a safety plan was additionally increased amongst working ladies, whereas 72% working ladies had been conscious that time period insurance coverage guarantee household’s future is financially protected in case of premature loss of life of breadwinner, a lesser 69% working males had been conscious of it.
Growing insecurities attributable to the pandemic additionally compelled 69% of city Indians to turn out to be extra proactive about monetary planning. The enhance in self-awareness pushed 71% of these surveyed to actively take note of heal their life, whereas 72% now search for merchandise that may enhance their immunity.
Note: IPQ 3.0 comparability with IPQ 2.0 is for 25 cities solely (6 metros and 9 Tier 1 and 10 Tier 2 cities)
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