Covid-19 continues to make urban India feel financially insecure: Max Life survey
The five-year National Savings Certificate and the Public Provident Fund scheme will both fetch 8% interest against 7.6% earlier. Photo: iStockPremium
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NEW DELHI :
Urban India has grown more anxious about financial security and preparedness in the last one year, and there is a significant shift towards increasing savings and investments. Financial anxieties related to covid-19 and the ability of current earnings to cover expenses have emerged as top concerns for urban Indians.
These are the key findings of the third edition of the Max Life India Protection Quotient 3.0 (IPQ 3.0) survey done by Max Life Insurance Co. Ltd in partnership with Kantar. As per the survey, Urban India witnessed a positive movement of four points on the Protection Quotient scale from 35 (IPQ 2.0) to 39 at present.
Insurance awareness, ownership show progress in Covid times: Max Life’s Survey
January 19, 2021
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The ongoing pandemic situation has accelerated the knowledge and ownership of insurance in the country, and this is reflected in the findings of latest edition of the ‘India Protection Quotient’ (IPQ 3.0), said Prashant Tripathy, Managing Director and CEO, Max Life Insurance, on Tuesday.
Releasing the findings of the third edition of its survey, conducted in association with KANTAR, Tripathy noted that Indian households have, in the current times, increased focus on savings and investments while reducing spend on both basic needs and luxury. In the backdrop of Covid-19, however, India continues to feel financially insecure, he added.