Insurance Awareness: HDFC Life Survey

Mr. Sanjay Tripathy, HDFC Life
Only 27% of urban Indian population seek professional help for financial planning advice
Awareness about insurance products is low in India, a survey by HDFC Life insurance says. Urban Indians are not very aware about insurance products & their investment planning is not aligned with their present needs.

HDFC Life in association with ValueNotes, a market intelligence and research firm, on recently launched its inaugural Life Freedom Index report where over 1,600 respondents were interviewed across 11 Indian cities.

Mr. Sanjay Tripathy, Executive Vice President & Head, Marketing HDFC Life said, “The Life Freedom Index will serve as the primary benchmark for indicating how financial freedom an Indian urban consumer is in terms of her financial awareness, planning, sufficiency & adequacy of planning”

Mr. Arun Jethmalani, MD, ValueNotes
said ''However, on the flip side, these plans lack comprehensiveness &  need to be realigned with their desired financial goals"

Highlights of HDFC Life Survey..!

* Indian urban consumers’ present sense of financial freedom is low.

* The macroeconomic scenario is yet to be positive as household savings seem to have gone down because families had less money to put away in a year of high inflation.


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