A new study by Tata AIA Life Insurance reveals that Generation Z in East India is leading the country in retirement-focused financial planning, with 63% of working individuals aged 21–29 considering life insurance as a key retirement tool—the highest nationwide. The study, titled ‘New Age Habits, Traditional Values’, was conducted in partnership with NielsenIQ.
The survey highlights a well-rounded investment approach among East India’s youth, blending traditional choices like gold (47%) and fixed deposits (54%) with growing participation in equities (43%). While only 11% currently hold term insurance, a promising 44% intend to buy it soon, indicating strong growth potential. Value-for-money premiums (56%), tax savings (51%), and transparent claims service (36%) were top factors in insurance selection. Interestingly, 21% of respondents rely on social media platforms like Instagram and YouTube for financial advice, underscoring a digital-first mindset.
The trend mirrors the regional findings. Financial advisors report increased interest among young professionals in term and retirement-focused insurance plans, with local insurers adapting to digital behavior and tax-optimized solutions. Girish Kalra, Chief Marketing Officer of Tata AIA, said, “It’s heartening to see East India’s youth planning early for retirement. We’re committed to empowering them with reliable, accessible protection products.”