People’s health expenditure has increased during the Corona epidemic. Due to the lockdown, people’s jobs have been lost, so many people have also faced salary cuts, for which they were not ready at all. In such a situation, the importance of financial security has increased with the increasing awareness of people towards life insurance in the country during the last two years due to the Covid-19 pandemic. Max Life has said this in its annual survey.
Releasing the fourth edition of India Protection Quotient (IPQ) survey on Wednesday, the life insurance company said that the ‘protection quotient’ of urban India has increased by three points to 50. This is an increase over the previous IPQ version. IPQ actually reflects a steady increase in the overall financial security of the country. In this, financial security has been given priority over all other aspects.
According to the survey, the fear of corona is now decreasing. Policyholders in urban India have re-focused on their long-term objectives of children’s education and retirement planning. The survey was conducted online between December 10, 2021 and January 14, 2022 among 5,729 people in 25 cities across the country.