A survey by Max Life Insurance has revealed that only 58 per cent of Pune’s population owns life insurance, making it one of the least insured cities in the country.
According to the ‘India Protection Quotient’ survey conducted by Max Life and Kantar IMRB, Pune stands at a Protection Quotient of 27 out of 100, lesser than the national average of 35 for urban India.
The three-dimensional survey determined policyholders’ level of financial preparedness to face future uncertainties by studying their life and term-insurance awareness, ownership and primary fears, and preferences when purchasing policies.
Pune’s protection quotient ranks the city lower when compared to other cities such as Ahmedabad, Bhubaneshwar, Chennai, Delhi, Jaipur, Lucknow, Mumbai, Patna, and Vishakhapatnam.
Source: The Hindu Business Line
Date: 9th May 2019