Hyderabad: The term insurance adoption in Hyderabad is the least among all the metro cities in the country. Only 41 percent of residents of the city own insurance.
As per the survey conducted by Max Life Insurance and consulting company Kantar, the highest insurance adoption was witnessed in Bengaluru as 59 percent of residents of the city own insurance.
The percentages in other metro cities i.e., Mumbai, Chennai, and Delhi are 50, 48, and 47 respectively.
Hyderabad’s term insurance adoption is less than average of all metros.
The survey also revealed that Hyderabad is the most financially anxious city. For 72 percent of respondents, children’s education is major stress whereas, 68 percent are worried about lifestyle and expenses and 66 percent feel stress over financing children’s wedding.
When it comes to financial planning, only 70 percent of residents of Hyderabad are proactive whereas, in Mumbai, 83 percent of residents are proactive. The percentages in Bengaluru, Kolkata, and Delhi are 79, 79, and 71 respectively.
