19% take insurance as savings tool: PF Survey

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Do you know, how many families in India have life insurance? Which state has the highest number of families who have taken life insurance? What percentage of families feel that life insurance is a good means of saving for  retirement? You may have no idea about this, so in India’s Pulse Personal Finance survey, Money9 brings all this information. This is the country’s first and independent personal finance survey. Money 9 surveyed 31,510 households in 100 districts across 20 states of the country. This survey shows that, 19 out of every 100 families in the country have taken life insurance as means of saving.

If we look at states, then, 38 out of every 100 families in Karnataka have taken life insurance as a saivings tool.  Karnataka has highest number of life insurance policies. Next is  Delhi-NCR where 27 out of 100 families have taken life insurance for saving. But in Bihar only 7% families have life insurance policies as means of savings.

If we look at the districts, then Bellary district of Karnataka has the highest number of 53 out of 100 families which have invested in life insurance. More important information has been found in this survey… For example, 58 percent of households feel that life insurance is a good means of saving for their retirement. In the case of life insurance, people still trust LIC the most, with 84 out of every 100 families pitching for LIC’s life insurance policy. There is more information related to personal finance in our survey,  such insights on personal finance is very important for you also.