Friday, May 7, 2021
Home Business Awareness Of Life Insurance Products Improved Among Indians

Awareness Of Life Insurance Products Improved Among Indians

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

Awareness of 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 of 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 the 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.

Follow NewsGram on LinkedIn to know what’s happening around the world.

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

ALSO READ: Parenthood 101: Protecting Your Child’s Present and Future With Life Insurance

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 and awareness of Life Insurance that can avert anxieties and help build resilience, he said. (IANS)

STAY CONNECTED

19,512FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

What’s Next In Podcast World 2021?

Let us take our chances and say that you are tempted to skip reading this entire article, apart from the key pointers. But imagine...

Fix Your Gummy Smile By These Treatment Options

Everyone tends to experience something they are self-conscious about. For some people, a gummy smile which is known as an excessive gingival display is...

Participate In Fitness Challenges And Win Some Great Prizes

As the pandemic continues to grip the country, it is becoming challenging for us to keep our spirits high. Fitness is no longer a...

Study: COVID Precautions Causing Dermatitis In Two-Thirds Of The Population

More than two-thirds of people may now have hand dermatitis due to stringent hand washing and using alcohol-based rubs during the Covid-19 pandemic, indicating...

Natural Herbs For Stress And Anxiety Relief

The ongoing Covid-19 pandemic has struck both people's mental health and physical health, with necessary protocols like social distancing and restricted mobility making the...

Google Planning To Give Users More Controls About How Their Data Is Used By Apps

After Apple gave users more control over their data sharing with app developers, Google has now pre-announced an upcoming safety section in Google Play...

Lancet: COVID Pneumonia Puts 1 In Every 3 Women At Lung Damage Risk

Most patients hospitalized for Covid-19 infection return to full health, but one in three may develop lung damage even after a year, according to...

Report: Immediate Action Is Needed To Reduce Methane Emissions

A Global Methane Assessment released on Thursday by the Climate and Clean Air Coalition (CCAC) and the United Nations Environment Programme (UNEP) showed that...

Recent Comments