Max Life Insurance Company Ltd. (“Max Life”/ “Company”) today revealed the findings of the fifth edition of its flagship survey India Protection Quotient survey (IPQ)* conducted in partnership with KANTAR. Celebrating its 5th edition, the study has captured the financial journey of India over the past 5 years.
Also sharing some key findings of this year’s IPQ 5.0 survey here –
India Protection Quotient rises to 43 with security levels restored to pre-pandemic era
South zone leads with highest Protection Quotient of 47 on the back of highest Life Insurance Ownership of 78%
Digitally savvy urban India is most protected and secured with a Protection Quotient of 52, which is 9 points higher than urban India which is still at 43
Luxury spends reset to pre-COVID levels and overall allocation to Savings takes a hit
1 in 2 Indians still feel their term insurance cover is insufficient to safeguard their family’s future