Life Insurance Ownership Hits Record 78%: Max Life IPQ 7.0

New Delhi, May 5, 2025:AxisMaxLifeInsuranceLtd. {formerly known asMaxLifeInsuranceCompany Ltd.} (“AxisMaxLife”/ “Company”), has unveiled the findings of theseventh edition of its flagship survey–IndiaProtectionQuotientsurvey (IPQ)conducted in partnership withKANTAR, the world’s leading marketing data and analytics company. Tapping 6,360 households across 25 Indian cities, the survey has been uncovering urbanIndia’s pulse on financialprotection.

AxisMaxLifeis launching theIndiaProtectionQuotient7.0under the unified narrative of‘Bharosa Talks’that willspotlightIndia’s evolving financial andprotectionmindset. Through this platform,AxisMaxLifeaims to amplify real voices across demographics—urban, rural, salaried, gig workers, and retirees—offering authentic insights into howIndiaviewsprotection, planning, and long-term security. As financial anxieties shift overtimeand aspirations evolve, Bharosa Talks will serve as a critical pulse for industry, regulators, and policymakers to understand emerging consumer priorities.

As per IPQ7.0, urbanIndia’sProtectionQuotienthas climbed to 48, up from 35 in 2019, marking continued progress in the country’s financial preparedness.Lifeinsuranceownershiphas reached anall–timehigh, with78% of urban Indians owning one or more products, while the Knowledge Index has improved to 63 up by two points, indicating increased awareness and understanding oflifeinsurance.

In a post-pandemic recovery milestone, urban India’s financial security has hit 68%, surpassing the pre-pandemic peak of 66% (IPQ 1.0), and rebounding strongly from a pandemic low of 57%. For the firsttimein seven editions, ‘Cover’ has overtaken ‘Premium’ as the key consideration in termlifeinsurancepurchase, with 3 in 4 urban respondents prioritizing coverage over cost.

In IPQ7.0, Metros have seen a 3-point jump in theProtectionIndex on the back of increasedownershipoflifeinsurance(from 83% in IPQ 6.0 to 86% in IPQ7.0) and improved sense of financial security (from 69% in IPQ 6.0 to 71% in IPQ7.0). Tier-1 cities have also seen a significant improvement across parameters like Knowledge Index (from 58 in IPQ 6.0 to 62 in IPQ7.0),LifeInsuranceOwnership(up from 73% in IPQ 6.0 to 77% in IPQ7.0), and Security Levels (from 63% in IPQ 6.0 to 67% in IPQ7.0).

Prashant Tripathy, CEO and Managing Director,AxisMaxLifeInsurancesaid,“IndiaProtectionQuotient, as part of ‘Bharosa Talks’ has evolved into a powerful barometer ofIndia’s financial resilience, acting as a catalyst for drivingIndia’sprotectionnarrative forward. This year’s recordProtectionQuotient, alongsideall–timehighlifeinsuranceownership, reflects a decisive shift in consumer priorities — from cost sensitivity to genuineprotectionneeds. Yet, the widening gender gap in financial security calls for deeper, more inclusive interventions. AtAxisMaxLife, we remain committed to strengthening this momentum, driving awareness, and building a more comprehensively protectedIndia.”