Saving for kids' education top worry for 35% people: Insurance survey

A protection survey conducted by Birla Sun Life Insurance Company finds uncertainty taking a toll on respondents.

78% feel life has become very uncertain

People living in metros are more worried than those living in non-metros.

Women more uncertain than their male counterparts

82% of women stressed compared to 76% of men.

Triggers for worry lie in priorities


Causes of uncertainties are changing



Focus has shifted from rising prices to stability of jobs and health in last 4 years.
Awareness is increasing about need for protection


76% of respondents aware of the need to protect themselves against uncertainties.
Awareness about need to prepare for retirement rising

Focus on saving and investing has gone up




With a higher inflow of money, more are investing and saving the extra, protecting against uncertainties.

But there is need for more protection
Life cover
• Have enough life coverage and don’t need more: 50%
• Life coverage is lesser than required: 41%
• Don’t know: 9%
Life cover to income ratio = 1.83
Ideal life cover to income ratio = 10%

Research says average life cover is just twice the income which should be ideally 10 times one’s income.

Source: Birla Sun Life Insurance Company Protection Survey carried out over 9 centres, covering 1,540 respondents. The base size was 1,554 in 2013.