Insurance awareness improves amid pandemic: Survey


New Delhi, Jan 19 (IANS): Awareness on life insurance products improved among Indians amid the pandemic, showed a survey by Max Life Insurance.

As per Max Life's 'India Protection Quotient 3.0', the degree to which Indians are aware about life insurance products or the Knowledge Index moved up by 9 points to 55 and life insurance ownership levels increased by 500 bps from IPQ 2.0.

Notably, the survey shows a significant growth of Knowledge Index across all cities, age and gender, highlighting responsible outlook of urban India amidst uncertain times.

Urban India witnessed a positive movement of four points on the Protection Quotient scale from 35 to 39. However, it was found that against the backdrop of Covid-19, India continues to feel financially insecure.

"The degree to which Indians feel financially secure and prepared or the Security Level dipped by 300 bps to 57 per cent amidst uncertain times. Notably, the survey shows a significant growth," a statement from Max Life said.

Prashant Tripathy, Managing Director and CEO, Max Life Insurance said: "Launched in the backdrop of an unprecedented year, IPQ 3.0 survey reveals that while issues surrounding financial preparedness were magnified during the challenging Covid-19 times, there are long-term lessons to be learned when it comes to addressing and acknowledging financial protection."

Slowly but gradually, urban India is moving towards proactive financial planning that can avert anxieties and help build resilience, he said.

 

  

Top Stories


Leave a Comment

Title: Insurance awareness improves amid pandemic: Survey



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.


Security Validation

Enter the characters in the image