Around a fifth of rural population owns life insurance products vs 73% in urban India: Survey1 min read 22 Mar 2023, 01:17 PM IST
Anxieties surrounding the rapid depletion of savings remained consistent across rural India, with three in four respondents expressing concern about their savings diminishing in the next 10 years
New Delhi: Rural India scores low on the protection quotient scale, with only 12 points, compared to urban peers with 43 points. Life insurance ownership gap is more pronounced, with only 22% of India’s rural population having such products, compared with 73% across urban India. The low uptake can be primarily attributed to inadequate funds to buy life insurance (41%), high premiums (32%), and multiple buying formalities (24%).
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