Finances for children’s education, marriage a key concern more for Metro women than Tier 1 & 2 women, reveals Max Life India Protection Quotient 2.0 survey
Increased life insurance awareness and ownership led to increased India Protection Quotient of 35 for women up from 33 last year Health related concerns are becoming a priority May 11 th , 2020, New Delhi: On the occasion of Mother’s Day, Max Life Insurance’s India Protection Quotient 2.0 (“IPQ 2.0) survey in association with Kantar revealed that women in urban India have registered a sharp increase in life insurance ownership and awareness over the last twelve months. While life insurance ownership witnessed 8% increase to 67% among women, term insurance awareness rose by 11% to 55% and term insurance ownership witnessed a 7% increase to 26%. This has led to an increase in the overall protection quotient, which is higher at 35 for women this year as compared to 33 last year IPQ 1.0 survey. Marking the progress, Aalok Bhan, Director & Chief Marketing Officer, Max Life said, “ In the modern Indian context, as more women assu...