Life insurance ownership in East India stands at a robust 79%, according to the seventh edition of the India Protection Quotient (IPQ 7.0) survey by Axis Max Life Insurance in partnership with KANTAR. The region recorded a Protection Quotient (PQ) of 42 and a Knowledge Index of 42%, driven by growing familiarity with ULIPs and savings plans. Kolkata, the financial hub, tops the chart with 85% ownership and a PQ of 47, highlighting increasing adoption of advanced protection products.
The survey shows that 41% of respondents invest with family-led intent, prioritising children’s education, old-age protection, and medical security. While the Security Index stands at 46, reflecting awareness, there remains an opportunity to convert it into greater confidence and term insurance adoption, which currently lags at 25%—the lowest among Indian zones.
In Guwahati, growing financial awareness mirrors regional trends, with urban residents increasingly exploring ULIPs and endowment plans. Local insurance agencies report rising interest among families aiming to secure children’s education and healthcare, signaling potential growth for term and goal-based insurance products in Assam’s largest city. Prashant Tripathy, CEO of Axis Max Life, noted, “East India exemplifies early financial inclusion, and our focus is to bridge awareness into long-term confidence through education and personalised solutions.”
Read more at – https://www.axismaxlife.com/maxlife-ipq.