Key Findings,
- Rural India’s Protection Quotient Rices To 16, Up from 12 in IPQ 5.0-But Urban-Rural Gap Stands at 32 Points
- Life Insurance Owneship Remains Significantly Lower, Despite Awareness Gains
- Rural women lag rural men in all protection indices – Protection Quotient at 14 vs. 17
- West Leads Rural Protection Index; East Lowest with just 2% Ownership in Savings Plan
- 43% believe life insurance benefits only the family, not the individual
- Digital usage surfaces – Financial transactions double; 88% use mobile for social media
Axis Max Life Insurance Limited. (“Axis Max Life” / “Company”), Formerly Known as Max Life Insurance Company Limited, Has Unveiled The Rural India Findings of the Seventh Edition of Its Flagsh Flagsh Quotient (IPQ), Conducted in Partnership With Kantar, One of the Leading Marketing Data and Analytics Company Across the World. Capturing Insights from Over 155 Villages Across India, The Survey Delves Into The ASPIRATIES, ANXIETIES, And Evolving Protection Needs of India’s Rural Population in their journey Financial Security. As per IPQ 7.0, Rural India’s Protection Quotient Rose to 16, from 12 in IPQ 5.0. The Knowledge Index Recorded A 7-Point Gain, Yet this improvement has not translated to ovening
Axis Max Life’s IPQ 7.0 Reveals Rising Awareness but Persistent Protection Gap in Rural India
Prashant Tripathy, CEO and Managing Director, Axis Max Life Said, “The IPQ 7.0 Rural Edition Signals a Defining Shift – A Rise in Awareness and Aspiration Among Rural Indians to Secure their Financial Futures. However, the persistent protection gap is a clear call to action. As we have collectively straight strand Irdai’s Vision of ‘Insurance for All by 2047,’ The On the Industry to Reimagine how we serve bharat – through simplified products, Inclusive Advisery Networks, Inclusive Networks Technology-Led Delivery Models. The future of life insurance in India will not only be shaped by innovation, but by our ability to respond to the evolving needs and Ambitions of Rural India with Empathy and Intent.,
Notes to editior:
The following Findings Reveal Insights that Highlight Rural India’s Shift in Attitude and Approach Towards Financial Preparedness Studies Studied by India Protection Quotist 7.0:
Financial Preparedness in Rural India
Rural India’s Protection Quotient Improved To 16 (from 12 in IPQ 5.0), Driven by a 7-Point Rise in Awareness. However, Life Insurance Owneship Remains Far Bell Urban Levels. Despite Increased Familiarity with Products Especially Term Insurance (Awareness up from 32%to 40%to 40%) Adoption Lags due to affordability Concerns, Poor Service Experience (41%), and the Perception that life insurance only benefits the family (43%). 40% of Rural Respondents Cited Lack of Funds as a Barrier to Purchasing Insurance – Notable Higher Than 31% in Urban India.
Gender Gap: Women behind on all protective indices
Women from Rural India Report a Protection Quotient of 14, Compared to 17 Among Men. They also lag in awareness, ownership, and financial confidence. Many Still Depend on Male Family Members for Financial Decision-Making, And Few Independently Navigate Insurance Products.
However, Female-Led Households and Self-Help Groups (SHG) -Affilized Women Show Higher Engagement, and Younger Women (Aged 25-35), Especially in the Soutth and West, West, West, Are More Digitally Financially aspirational. This opens a pathway for inclusive, gender-sensitive communication and communication-based outreach.
Zonal Insights: West India leaders, East India Lags
West India leads the rural protection quotient, closely followed by the south. These zones report Higher Awareness and Owneship of Life Insurance. The East Zone, however, remains the least financially protected with term plan awareness at just just Around 32% and Term Ownership as low as 3%. The Urban-Rural Divide is Most Severe in this region, with a 52% gap in life insurance ownership highlighting the critical need for regional interview and targeted education.
Financial anxiety high despite growing awareness of life insurance
One in four rural Indians now beLieve In IPQ 7.0, 39% of Rural Respondents Expect their Savings to last more than five more than five years up from 20% in ipq 5.0. Still, Basic Expenses and Debt Repayments Leave Little Room for Long-Term Financial Planning, Especially in Households with Irregular Incomes.
Key drivers of life insurance adoption in rural India
Rural Indians Buy Insurance Primarily to Secure Family Goals – 41% Cite Old Age Security, 35% Children’s Education, and 34% Children’s Marriage. Insurance is seen as a safe and dual-benefit investment by 41% of Respondents. However, Many Still View It Emotionally, with 43% Believing It only helps their family, not themselves.
Public Schemes Remain Cornerstone of Rural Investment
More than 60% of rural Indians relay on Government-Backed Financial Products or Loans Through SHGS/Cooperatives which are considered as accessible and trustworthy. Market-Linked Instruments Like Mutual Funds Have Seen Marginal Awareness Growth But Still Remain Under-Tilised. Health Insurance Owneship has also grown, indicating improved awareness Around Medical Preparedness.
Digital adoption surges Across rural markets
Digital behavior has transformed since the last rural survey. Around 88% of Rural Respondents Use Mobile Phones to use social media; Around 78% of them to enjoy video/music. Online Financial Transactions Like Mobile Banking, Money Transfer, Online Payments Through Upi Havel more than doubled from 17% to 40%. Nearly Half of Rural India Population Now Use Digital Platforms For Service Requests and Complaint Resolutions, Indicating Rising Digital Readness for Financial Inclusion.
Read more at – https://www.axismaxlife.com/maxlife-ipq
Disclaimer,
The Study is Conducted in Over 155 different Villages Spread Over Around 25 Cities in India. A total sample size of Around 1,620 Respondents Within the Age Group of 22 to 55 years was intertered for the survey. The interviewees were picked from Rural Social Economic Classification (SEC) R1 and R2 Households with Annual Househld Income of INR 50,000 and Above.
The information collected through this survey and the results published are intended for general guidance and informational purposes only. Axis Max Life Disclaims Any Liability for Any Loss, Damage, Or Decisions Arising from the use of this survey or the results provided.
About Axis Max Life Insurance Limited (https://www.axismaxlife.com,
Axis Max Life Insurance Limited, Formerly Known as Max Life Insurance Company Limited, is a Joint Venture Between Max Financial Services Limited (“MFSL”) and Axis Bank Limited. Axis Max Life offers Comprehensive Protection and long-term savings life insurance solutions through its Multi-Channel Distribution, Including Agency and Third-Pathy DISTRIBURBUNS PARTRIS It has billt its operations over two decades through a need-based sales process, a customer-content approach to engine and service delivery and trained human capital. As per annual Audited Financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.
About Kantar
Kantar is the World’s Leading Marketing Data and Analytics Business and An Indispensable Brand Partner to the World’s Top Companies. We combine the most meaningful attitude and behavioral data with Deep Expertise and Advanced Analytics to Uncover How People Think and Act. We help clients understand what have been happy and why and how to shape the marketing strategies that shape their future.