Max Life Insurance Company Ltd. (“Max Life”/ “Company”), in partnership with Kantar- the world’s leading marketing data and analytics company, launched the second edition of the ‘India Retirement Index Study’ (IRIS). Through a self-administered digital study , 3,220 respondents were surveyed across 28 cities comprising 6 metros, 12 Tier I and 10 Tier II cities.
East India’s Retirement Index (on a scale of 0 to 100) At 51 retirement planning followed by West at 46, South at 43 and North at 41.Emotional preparedness in East India stood at 61indicating an increasing dependence on family, friends, and social support during retirement. Financial and health preparedness stood at 56 and 46, respectively. IRIS 2.0 noted that 71%respondents in the East region have started investing for retirement.
In fact, a sizeable 79% of the survey base over the age of 50, regretted not investing earlier towards retirement. 44% in the region are hopeful of being fit and healthy in their retirement years, with 47% regularly participating in fitness activities – a jump from 35% in the first edition of the survey.V. Viswanand, Deputy Managing Director, Max Life Insurance said, “This is an opportunity for us to drive greater efforts on the importance of early financial planning, ensuring long-term protection and security for our consumers.”
