SBI Life Insurance, has unveiled another comprehensive consumer study, The Financial Immunity Survey 2.0, providing deep insights into consumer’s evolving behavior towards financial preparedness in the post covid world. SBI Life commissioned the survey with NielsenIQ (India), reaching out to 5,000 respondents across 28 key cities covering the length and breadth of India.
According to the survey, people find this importance of insurance, 46% purchased Health insurance and 44% purchased Life insurance for the first time during COVID-19. But although Indians feel insurance is important, they still seem to be under insured with as their insurance cover is ~3.8 times of their annual income which is not even close to recommended 10X or 25X of their annual income. Speaking on the survey launch, Mr. G Durgadas, President – Zone III, SBI Life Insurance said, “SBI Life’s Financial Immunity Survey 2.0 has provided many such insights on the evolving consumer attitudes in a post-covid world.”
