A survey of 800 people in the age group of 20 to 50 years from Tier 1 and Tier 2 cities revealed that 64% regretted delaying buying term insurance.
Life Insurance: We all know how important and crucial life insurance is for us. But do you know why most Indians buy life insurance? Yes, this is a question that very few people pay attention to. Canara HSBC Life Insurance recently conducted a survey in which many important things came to light.
Financial security of the family is the biggest priority
The survey revealed that now most people consider life insurance as their top priority. 70 percent of the people surveyed are giving more importance to the financial security of the family than their desires like buying a house and going on vacations.
In this survey, an attempt was made to know how prepared Indians are for the future of their family. Along with this, an attempt was made to know how they manage their savings and insurance?
64% of people regret this
A survey of 800 people in the age group of 20 to 50 years from tier 1 and tier 2 cities revealed that 64% regretted delaying buying term insurance. Of the 83% who understand the importance of a term plan, only 11% take the time to review their coverage.
This percentage of Indians start retirement planning in their 30s
Questions asked about retirement revealed that 66% of Indians start planning for retirement in their 30s. 74% regret the delay in retirement planning. Due to this delay, only 27% feel ready for retirement and 24% believe that their maturity amount is sufficient to meet their financial needs.
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