A comprehensive consumer survey has been unveiled by SBI Life Insurance. It provided deep insights into consumer predispositions towards Financial Immunity in a post-Covid world. In the wake of COVID-19, maintaining personal physical immunity has been on the fore. In fact, 8 out of 10 Indians are aware that ‘stress’ lowers mental and physical immunity. The survey attempts to better understand the cause of stress, by enquiring about the top financial worries of the consumer today. The reasons for financial worries cited by consumers underpin the stress caused by financial management of lifestyle diseases. Alarmingly, over 50% Indians are not sufficiently prepared to face any financial emergencies related to lifestyle diseases.
SBI Life commissioned the ‘Understanding consumer attitude towards Financial Immunity’ survey with The Nielsen Company, reaching out to over 2,400 consumers across 13 key cities. The pandemic has brought in a realization on the need for protection, with 7 out of 10 Indians who currently do not own a Critical Illness cover, explicitly expressing an intention to buy one in the next three months. An encouraging insight thrown up by the survey is that 8 out of 10 consumers purchase Life and Health insurance to safeguard future of the family.
