25% urban Indians have no life insurance, GenZ least secure financially: Survey

Despite high awareness, term plan ownership is low among urban Indians, shows a Max Life Insurance survey. The Max Life Insurance India Protection Quotient 6 survey was done in partnership with Kantar. The survey was conducted among 4,700 urban Indians across 25 cities. IPQ is the degree to which Indians feel protected from future uncertainties. IPQ 6 survey.

Here are more findings from the Max Life IPQ 6 survey.

India’s Protection

Quotient rises to 45

Medical expenses major concern

Kids’ goals top reason for saving

Cover size nearly as important a factor as premium for buying term plan

Barriers to buying term plans: 1 in 4 prefer health to life insurance

Working women buying more gold, health insurance

1 in 2 have sufficient life insurance

GenZ least secure financially

Source: Max Life Insurance India Protection Quotient 6 survey, in partnership with Kantar. The survey was conducted among 4,700 urban Indians across 25 cities. IPQ is the degree to which Indians feel protected from future uncertainties.