Strengthening its commitment towards ensuring greater financial protection for the country in the midst of COVID-19, Max Life Insurance Company Ltd. unveiled the findings of the COVID-19 edition of its flagship survey ‘Max Life India Protection Quotient- Express’ (“IPQ/IPQ Express”) in association with KANTAR.
Titled IPQ Express, the survey revealed dominant consumer sentiment in the times of COVID-19 on the back of how protected digitally savvy urban Indians feel with respect to financial security, savings and investments, medical preparedness, key anxieties, and new acceptance levels in an increasingly digital world.
The digitally savvy, urban respondents of South India revealed a protection quotient of 46 during COVID-19 times, almost as par with the national average of 45. South India demonstrated the highest life insurance ownership of 78% (at par with North) followed by East region that had an ownership of 77%, and West where life insurance ownership stood at 73%. The region’s life insurance knowledge index too was the highest at 68, followed by East (67), North (66) and West (63).
However, financial security levels were lowest in Southregion with only 48% respondents feeling attitudinally secure, as opposed to 53% respondents in North and West and 52% in East region feeling attitudinally secure.