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Indians feeling more financially secure than in 2020, says a Max Life Insurance survey

The fifth edition of the India Protection Quotient Survey by Max Life Insurance covered 4,610 respondents across the offline and digital categories. On a scale of 0 to 100, the degree to which Indians feel protected from future uncertainties has increased four points from 2020 to 43 now.

January 26, 2023 / 12:34 PM IST
The survey, carried out in partnership with data analytics firm Kantar, shows that urban India is more aware about life insurance products in the market and a larger chunk of this population owns life insurance policies, compared to IPQ 1.0, carried out in 2019.

The survey, carried out in partnership with data analytics firm Kantar, shows that urban India is more aware about life insurance products in the market and a larger chunk of this population owns life insurance policies, compared to IPQ 1.0, carried out in 2019.

Indians are more aware about their financial security and preparedness since the COVID-19 outbreak in 2020, as there is a significant shift towards increasing savings and investments.

According to the fifth edition of the India Protection Quotient (IPQ) Survey by Max Life Insurance, which covered 4,610 respondents across the offline and digital categories, on a scale of 0 to 100, the degree to which Indians feel protected from future uncertainties has increased four points from 2020 to 43 now.

The survey, carried out in partnership with data analytics firm Kantar, shows that urban India is more aware about life insurance products in the market and a larger chunk of this population owns life insurance policies, compared to IPQ 1.0, carried out in 2019.

The urban India has achieved pre-covid levels of financial protection. The urban India has achieved pre-covid levels of financial protection.