Mumbai
SBI Life Insurance, one of the most trusted private life insurance providers in the country, has released the results of The Financial Immunity Survey 2.0, which highlights the changing mindset of consumers towards financial readiness in the post-Covid world. The survey is a joint venture between SBI Life and NielsenIQ (India). The survey was conducted by 5,000 people across 28 major cities in India.
Against the backdrop of the current epidemic, most Indians are confident that they will emerge from the third wave of Covid in the country. In the situation that everyone is going through now, 80% of Indians firmly believe that their bodies are now more prepared than ever to fight Covid because of taking a double dose of vaccine. But 36% of Indians think the situation could get worse in the next three months and the reasons for their top three concerns are
(1) Rising medical costs.
(2) Job instability
(3) Concerns about the health of family members.
Corona epidemic has reduced the income of 69% of Indians. One in three is still earning less than before. Eighty-four percent of Indians think that important milestones in their lives, such as saving, leisure, travel, and children's education, were affected by the epidemic. According to the survey report, the financial situation of the people has been affected a lot in the aftermath of Covid.
Uncertainty has been created around Covid. The importance of being financially prosperous has increased more than ever. 56% of Indians think that being able to maintain 'financial security and family stability' is the real thing now. 6% of Indians think that life insurance is very important in the overall financial planning process. With this importance of insurance in mind, 46% bought health insurance and 44% bought life insurance for the first time during the Corona epidemic. But even though Indians think that insurance is important, they are not able to stay that way. Because their insurance cover is 3.6 times the annual income. Which is not close to 10 times or 25 times their annual income.
Speaking on the occasion of the launch of the survey, G Durgadas, President, SBI Life Insurance Zone-III, said, “The impact of the epidemic has changed the way consumers buy insurance or other financial products. Improving health, safety and finances is now a priority for the people. Although customer behavior changes at different times. Financial planning has become essential for the well-being of our customers. SBI Life's Financial Immunity Survey 2.0 highlights the changing consumer mood in the post-Covid world.”
He added, “Although we have seen an increase in insurance awareness since the outbreak. However, there are still gaps that need to be filled. Because a large number of people are not yet adequately insured. The good news is, consumers are feeling the need to be financially secure. It is beginning to realize its long-term benefits, which will help create financial security for the family.”
Corporate correspondent
إرسال تعليق