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Financial security gains prominence post-COVID: Max Life survey

Launching the 4th edition of the India Protection Quotient(IPQ) survey on Wednesday, the life insurer said the ’Protection Quotient’ of urban India has moved up 3 points to 50, witnessing a gradual rise from previous IPQ editions.

February 23, 2022 / 06:29 PM IST

India’s awareness towards life insurance grew significantly over the last two years due to COVID, and the need for financial security has gained priority among people, according to Max Life’s annual flagship survey.

Launching the 4th edition of the India Protection Quotient(IPQ) survey on Wednesday, the life insurer said the ’Protection Quotient’ of urban India has moved up 3 points to 50, witnessing a gradual rise from previous IPQ editions.

The trend line reflects a steady growth in the country’s overall financial protection that has led to prioritizing financial security over all other aspects.

As per the survey, with the COVID fears receding now, the policyholders in urban India have re-aligned their long-term objectives of children’s education and retirement planning.