Problem of being under-insured continues
Survey shows about 93% were sole investment decision makers, only 7% did so jointly with others
In a study on the level of life insurance and the reasons behind why people buy life insurance, by Tata AIA Life Insurance Co. Ltd and Citibank, a total of 362 salaried individuals across six cities—Delhi, Mumbai, Chennai, Bengaluru, Ahmedabad and Kolkata—were surveyed. The number of affluent participants was 242.
Profile of salaried individuals was minimum personal income of ₹ 10 lakh per annum, while an affluent participant had banking relationship worth at least ₹ 60 lakh. About 93% were sole investment decision makers, only 7% did so jointly with others. In terms of age group, 35% respondents were in the 24-30 years band, a majority of 62% in 31-45 years band and a small 3% in 46-55 years group.
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