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Life Insurance awareness and adoption surges amongst Urban Indians; Protection Quotient now at 45: Max Life IPQ 6.0 Survey*

Key Findings of the IPQ 6.0 Survey

  • India’s Protection Quotient (IPQ) reveals that 3 in 4 urban Indians now own life insurance
  • Urban India’s heightened awareness about life insurance products drives the overall Knowledge Index to 61; higher importance being ascribed to Cover and Riders while buying Term Life Insurance
  • The South Zone most financially prepared; West India has the highest increase in IPQ over the last year
  • Increase seen in the Protection Quotient of working women; now at par with working men
  • Digitally-savvy urban Indians have a significantly higher Protection Quotient of 54 vs non-digital at 45  

NEW DELHI, Feb. 22, 2024 /PRNewswire/ — Max Life Insurance Company Ltd. (“Max Life“/ “Company”) today unveiled the findings of the sixth edition of its flagship survey, the India Protection Quotient survey (IPQ)* conducted in partnership with KANTAR, the world’s leading marketing data and analytics company. Tapping 4,700 respondents across 25 Indian cities, this widely inclusive survey uncovers urban India’s pulse on financial protection. Marking its 6th edition, the IPQ stands as one of the most comprehensive and long-running financial studies, covering varied cohorts, including Generation-Z, Women and Millennials, carrying forward the theme of ‘Protection for All’.

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As per IPQ 6.0, urban India demonstrates remarkable progress in financial readiness, with 3 out of 4 urban Indians now owning life insurance products. The Protection Index is at an all-time high of 45 in IPQ 6.0, up from 43 in IPQ 5.0, reflecting a positive trajectory in the nation’s evolving protection awareness and adoption. This is reflected in the Knowledge Index increasing from 57 (IPQ 5.0) to 61 (IPQ 6.0) and life insurance ownership levels moving from 73 (IPQ 5.0) to 75 (IPQ 6.0). Over a five-year period, the India Protection Quotient has witnessed an impressive 10-point increase, from 35 in IPQ 1.0 to 45 in IPQ 6.0, that reiterates Urban India’s constant journey towards building financial resilience.

The latest insights unveil a shift in the nation’s financial well-being as well. Despite a modest increase from 63% in IPQ 5.0 to 65% in IPQ 6.0, urban Indians’ financial security levels have yet to fully recover to pre-pandemic levels. Corresponding with last year’s observations, metro cities are approaching the 50-point milestone this year, boasting a Protection Quotient of 49 points. In contrast, life insurance ownership and adoption in Tier II cities remain stagnant, with IPQ lagging at 36 points. In line with previous findings, South India retained its position as the most financially protected zone with a Protection Quotient of 49 points. This was followed by West India, which showcased a marked improvement in financial preparedness from 42 points in IPQ 5.0 to 46 points in IPQ 6.0. North and East zones lagged in financial protection at 41 and 40 points in this edition, respectively.

Unveiling key demographic insights, IPQ 6.0 sheds light on an interesting trend as millennials closely trail older age groups in financial preparedness, scoring at 45 and 46 for millennials and non-millennials, respectively. On the flip side, Gen Z emerges as the least financially shielded age group, holding a Protection Quotient of 42 points, largely due to lower insurance ownership. In a significant achievement, working women have successfully narrowed the financial protection gender gap. The Protection Quotient for working women has surged to 47 points, aligning with their male counterparts. Notably, 8 out of 10 working women are now investing in life insurance, marking a positive shift.

Prashant Tripathy, CEO and Managing Director, Max Life Insurance said, “Over the past five editions, the India Protection Quotient has become a true barometer for measuring urban India’s financial protection levels. By including incremental cohorts’ year-on-year, IPQ has become stronger, bigger, and more inclusive. Today, we are witnessing a remarkable shift in the financial consciousness of this diverse group, with 3 out of 4 urban Indians now owning life insurance. This opens opportunity areas for us in the space of digital transformation, creating tailored products, and building greater awareness initiatives that will help ensure an even larger insurance penetration in the country and support the vision of ‘Insurance for All by 2047′”.  

Soumya Mohanty, MD & Chief Client Officer, South Asia, Insights Division, Kantar commented, “We are happy to collaborate with Max Life Insurance in advancing awareness about life insurance and addressing the pressing need for financial security across the nation. As one of the longest-running studies in India, the India Protection Quotient Survey serves as a valued tool in providing critical statistical insights for the life insurance sector. Over the course of six years, the IPQ findings have revealed substantial data relating to financial behavior, savings patterns, and insurance uptake amongst urban Indians, making it an indispensable marker of the country’s financial preparedness.”

About India Protection Quotient

Instituted in 2019, India Protection Quotient is an annual property by Max Life Insurance in association with Kantar aimed at understanding the pulse of Indian consumers in the financial protection space. Launched with the underlying objective of increasing penetration of term insurance as the most fundamental and economical form of life insurance, the survey aims to reveal the state of urban Indians with regards to current financial security levels, changing savings and investment patterns, key anxieties, and triggers of financial protection in a contemporary world. The India Protection Quotient is a proprietary tool developed by Max Life in partnership with Kantar to gauge the degree to which Indians feel protected from future uncertainties on a scale of 0 to 100. It is based on attitudes, mental preparedness around future uncertainties, awareness, and ownership of life insurance product categories (term, endowment, and ULIP).

The following findings reveal insights that highlight urban India’s shift in attitude and approach towards financial preparedness studied by India Protection Quotient 6.0:

FINANCIAL PREPAREDNESS OF URBAN INDIANS

  • Highest progress seen in awareness of life insurance products, with more than 50% rise in the Knowledge Index since IPQ 1.0; Life insurance ownership soars to 75%

    In a positive move, urban India has made huge strides in awareness about life insurance over the past six years, with the Knowledge Index increasing from 39 in IPQ 1.0 to 61 as per the IPQ 6.0 study. Life insurance ownership too witnessed a steady improvement from 65% in IPQ 1.0 to 75% in the IPQ 6.0 survey indicating urban India’s steady path towards financial protection from unforeseen challenges.
  • Metro and Tier II findings reveal a large gap in the Protection Quotient 

    IPQ 6.0 revealed a large gap in the IPQ scores of Metro and Tier II cities, with Metro cities inching towards the halfway mark at 49, followed by Tier I cities securing 45 points but Tier II trailing at 36 points. This disparity underscores the ongoing challenge of promoting life insurance awareness and accessibility in smaller urban centers, highlighting the need for targeted interventions to address barriers to financial pliability.
  • Interesting trends in urban India’s financial behavior and savings patterns

    The burden of rising medical expenses has emerged as the top concern among urban Indians, with nearly two-thirds of the population expressing significant apprehensions. Despite growing focus on attaining a financially stable retired life, saving for retirement takes a back seat as urban Indians prioritize other savings goals like children’s education and marriage.

OUTLOOK TOWARDS TERM INSURANCE

  • Gap between Awareness and Uptake of Term Insurance widens as per IPQ 6.0

    Despite heightened awareness about term plans, from 64% in IPQ 5.0 to 70% in IPQ 6.0, term insurance ownership has seen negligible improvement since the previous edition, standing at 31% in IPQ 6.0, up from 30% in IPQ 5.0. The widened gap between ownership and awareness of term insurance products reflects shifting savings priorities, as IPQ 6.0 reveals how safeguarding against the untimely death of the breadwinner holds lower importance amongst respondents. In terms of other life insurance products, IPQ 6.0 highlights that 4 out of 10 urban Indians now own one or more savings products, whereas preference for ULIPs remains low at 14% ownership levels. It has also been seen that urban Indians assign higher importance to Cover and Riders while buying Term Insurance, while the priority assigned to premiums has diminished. Not thinking about life insurance, and other investments are the major barriers witnessed in this edition. An interesting point to note is that today 1 out of 4 Indians prefer Health Insurance over Life Insurance, underscoring the value ascribed to health by Indians.

MILLENIALS & NON MILLENIALS

  • Financial preparedness across generations reveals disparities

    The latest data from IPQ 6.0 reveals an intriguing shift in financial preparedness across different generations. While millennials are nearing parity with non-millennials in terms of financial readiness with a Protection Quotient of 45 and 46, respectively, Generation Z trails slightly behind with a Protection Quotient of 42 points. IPQ 6.0 highlights a notable gap in life insurance ownership levels, with Generation Z at 69 compared to non-millennials at 79. Interestingly, Generation Z demonstrates higher scores in Security levels, indicating a strong sense of financial security at 66, surpassing non-millennials at 63. While Generation Z shows promise in financial planning, there is room for improvement, particularly in term insurance uptake.

SALARIED VS SELF-EMPLOYED

  • Self-employed urban Indians exhibit a 9-point improvement in Knowledge Index in just one year

    As per IPQ 6.0, while salaried individuals have maintained relatively stable IPQ scores, self-employed urban Indians are making strides in financially preparing for an uncertain tomorrow. Reflecting a significant enhancement in financial literacy and awareness, the Knowledge Index of self-employed segment stands at 64 – 3 points above the nationwide Knowledge Index scores. This surge in knowledge is paralleled by a tangible increase in ownership levels, with a rise from 73% to 77%, indicating how the cohort is actively addressing gaps in financial protection.

DIGITALLY SAVVY URBAN INDIANS

  • With an IPQ of 54, Urban India’s digitally savvy consumers are more financially protected than any other cohort

    IPQ 6.0 reveals that the Protection Quotient of digitally-savvy urban Indians is 9 points higher than their non-digital counterparts, with the score of the cohort at 54, whereas the non-digital cohort stands at 45 points. The Knowledge Index remains highest in the digitally savvy urban Indian cohort at 73, with 80% of respondents owning life insurance. While traditional channels like agents remain prevalent, there’s a shift towards online channels, reflecting digitally-savvy consumers’ preference for convenience and accessibility. The substantial jump from 11% to 24% in fitness app subscribers within a year underscores the evolving lifestyle choices and preferences of urban Indians.

Read more about the India Protection Quotient at – https://www.maxlifeinsurance.com/maxlife-ipq 

Disclaimer:

The study is conducted in the top 25 Urban metros, Tier 1 and Tier 2 cities; hence, its findings are representative of metro, Tier 1 and Tier 2 cities in Urban India only.

  • Metro – Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Mumbai
  • Tier 1 – Ludhiana, Jaipur, Lucknow, Patna, Bhubaneshwar, Vizag, Ahmedabad, Bhopal, Pune
  • Tier 2 – Dehradun, Moradabad, Guwahati, Bokaro, Kolhapur, Jamnagar, Raipur, Ujjain, Hubli-Dharwad, Tiruchirappalli
  • IPQ 6.0 vs IPQ 5.0 data comparison is amongst 25 markets only [6 metros, 9 Tier 1 and 10 Tier 2]
  • The minimum sample to conclude any findings of the study is 270 with an error margin of +-5.964%

* Findings represented here are as per the IPQ 6.0 survey and Max Life doesn’t assume responsibility or liability for any contradictions.

About Max Life Insurance

Max Life is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited. Max Life offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. Max Life has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery, and trained human capital. As per the annual audited financials for FY2022-23, Max Life has achieved a gross written premium of INR 25,342 Cr.

For more information, please visit the Company’s website at www.maxlifeinsurance.com

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 attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future.

For more information, visit www.kantar.com 

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Reliance Digital Launches ‘Baaptaa’, a Father’s Day Campaign Celebrating the Many Expressions of Fatherhood

MUMBAI, India, June 20, 2026 /PRNewswire/ — Reliance Digital has launched ‘Baaptaa’, a Father’s Day campaign to celebrate the many expressions of fatherhood. Built around a simple cultural observation, while “Maa ki Mamta” has long been a part of India’s collective vocabulary, there has never been a word that captures the distinct ways fathers express love, the campaign introduces ‘Baaptaa’ as a tribute to the many shades of fatherhood.

Conceptualised as an original music-led campaign, Baaptaa celebrates fathers not as idealised figures, but as they are experienced in everyday life, protective, dependable, emotional, quirky, practical, occasionally embarrassing, and always present. Through a relatable narrative, the campaign acknowledges the countless ways fathers care for their families, often through actions rather than words.

Watch Video: https://youtu.be/9XyUsJB33Ds?si=PM67vhxrzth1JEkz 

At the heart of the campaign is an original music video told from a father’s perspective, capturing the different roles he plays across life’s moments and milestones. The film brings to life the humour, warmth and unspoken affection that characterise father-child relationships, while giving a name to a form of love that many recognise but few have articulated.

The campaign stems from a simple insight: while motherhood has often found expression through familiar phrases and popular references, the unique language of fatherhood has remained largely undefined. Baaptaa seeks to fill that gap by creating a term that reflects the everyday gestures, practical wisdom and quiet sacrifices that fathers make.

Father’s Day communication often leans into familiar emotional territory, but Reliance Digital’s campaign celebrates fathers in a way that feels more culturally authentic and relatable. The idea for ‘Baaptaa’ came from a simple observation — mother’s love has been immortalised in a number of heartfelt, emotional songs, there needed to be an anthem dedicated to dad’s love. And thus was born Baaptaa – a love language that is often awkward, practical, protective, humorous and deeply felt, even if rarely verbalised. It’s a celebration of fatherhood in all its wonderfully imperfect forms immortalized by a song that you won’t be able to stop humming.

Shop for the widest range of electronics at Reliance Digital and thank your father for his Baaptaa.

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Harper Collins Publishers India is Delighted to Announce the Recent Publication of ‘People We Love’ by Preeti Shenoy

NEW DELHI, June 19, 2026 /PRNewswire/ — HarperCollins Publishers India is delighted to share the recent publication of People We Love by bestselling author Preeti Shenoy. At once tender and sharp, this collection of stories offers intimate, truthful and relatable portraits of the people we cherish, the ones we lose, and the people we become.

ABOUT THE BOOK

The people we love never truly leave our story…

In these tender yet piercing stories, Preeti Shenoy returns to some of her most beloved characters to reveal who they were before they appeared in her bestselling novels It’s All in the Planets and The One You Cannot Have.

Aniket, a coder, carries the weight of a longing for Trisha that he cannot bring himself to act on. Nidhi abandons her corporate life to teach pottery, only to discover that clay is far more forgiving than the people she loves. A quiz competition sparks an unlikely romance between Aman and Shruti, one that must withstand parental disapproval and class divides. And Anjali, a journalist, is so busy chasing stories that she almost misses the one unfolding in her own life.

Set against the pulse of contemporary India, People We Love explores the tug-of-war between duty and desire, family and freedom, who we are and who we dare to be. Intimate and deeply felt, these are stories about love that stays, leaves and almost slips away … love that quietly and irrevocably shapes the people we become.

Preeti Shenoy, author, says, “People We Love is a collection of three long stories, prequels to my bestsellers It’s All in the Planets and The One You Cannot Have. If you have read those books, you already know how these characters’ stories unfold. But what you don’t know yet is where it all began, the loves they carried, the choices they made, and the people they were before life shaped them into who you met on those pages. Writing these prequels felt like returning to a home I hadn’t realised I missed, and discovering rooms I had never been in before.”

Rashmi Menon, Associate Publisher – HarperCollins India, adds, “Preeti Shenoy has an extraordinary gift for finding the heartbeat of ordinary lives. People We Love is a warm, wise and deeply humane collection of short stories that reunites readers with favourite characters from her bestselling novels It’s All in the Planets and The One You Cannot Have, weaving them into fresh, deeply satisfying narratives. These characters feel like people you know, and their journeys will move, comfort and surprise you. This uplifting, thought–provoking collection reminds us why we turn to stories in the first place. We couldn’t be more excited to share it with our readers.”

ABOUT THE AUTHOR 

Preeti Shenoy is among the highest-selling authors in India. She was featured on the Forbes longlist of the most influential celebrities in India. Her books include When Love Came Calling, Wake Up Life, Is Calling, Life Is What You Make It, The Rule Breakers, A Hundred Little Flames, It’s All in the Planets, Why We Love the Way We Do, The Secret Wish List, The One You Cannot Have and many others. Her work has been translated into many Indian languages. Preeti is also a motivational speaker, an avid fitness enthusiast, and an artist specializing in portraiture and illustrated journalling. Preeti lives in Bengaluru, Karnataka.

ABOUT HARPERCOLLINS PUBLISHERS INDIA

At HarperCollins Publishers India, we believe in telling the best stories and ensuring they reach the widest readership. We publish around 250 new books every year across 10 imprints, adding to a diverse catalogue of more than 3,000 titles in print and digital formats, with an array of genres and voices that ensure there is a book for every reader. Our authors have won some of the most prestigious literary awards, and we are proud to publish many acclaimed writers, alongside new and emerging voices shaping contemporary literature. We are also the publishers of The White Tiger by Aravind Adiga, winner of the Booker Prize 2008, and Girl in White Cotton by Avni Doshi, shortlisted for the Booker Prize in 2020, and HarperCollins India itself has been awarded “Publisher of the Year” several times. In addition, we represent some of the finest global publishers such as Harvard University Press, Lonely Planet, Oneworld, Nosy Crow, Usborne, and National Geographic Children, bringing Indian readers access to world-class books and ideas. We are also proud to be certified as a Great Place to Work for two consecutive years, a recognition of our culture, people, and values that make HarperCollins India a truly inspiring workplace. 

PRESS CONTACT:

Nandini Tripathi, Manager – Marketing (Commercial)

Email: nandini.tripathi@harpercollins.co.in | Mobile: +91 9718928839

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Fulfilling PM Modi’s Dream of Atmanirbhar Bharat: India’s AI Writing Startup Kreativespace Incubated at IIT Kharagpur

  1. Kreativespace, an Indian AI-powered writing platform founded by Vinet Kakadea, has been incubated at IIT Kharagpur and recognized by SVNIT University, Ministry of Education under Bodhan AI Conclave also through the NVIDIA Inception Program, AWS Startup Program, and DPIIT under Startup India.
  2. The platform unifies 8 AI-powered writing tools, along with AI Humanizer and Message AI feature being the latest addition into a single ecosystem, so you can generate and refine content all in one place.
  3. The company reports more than 50,000+ signed-up users, 75,000+ anonymous users, and roughly 100,000 monthly website visitors, positioning itself as the only Indian company operating at scale in the global AI writing market.

SURAT, India, June 19, 2026 /PRNewswire/ — Kreativespace, an AI-powered writing platform, is building out its position as the only homegrown alternative in a market long dominated by international tools such as Grammarly and QuillBot. Founded by Vinet Kakadea and incubated at IIT Kharagpur, the company has aligned its growth with the broader push behind Prime Minister Narendra Modi’s Atmanirbhar Bharat (Self-Reliant India) initiative, which encourages indigenous technology development capable of competing on a global scale.

Kreativespace Incubated at IIT Kharagpur

As AI adoption accelerates across India’s education, research, and enterprise sectors, Kreativespace is among a small group of Indian startups building writing technology designed to compete directly with established international platforms.

Kreativespace’s progress has been recognized by several institutions central to India’s startup and technology ecosystem. The company has been incubated at IIT Kharagpur, selected under SSIP 2.0 through SVNIT University, and chosen by the Ministry of Education to present its work at the Bodhan AI Conclave. It has also been accepted into the NVIDIA Inception Program and the AWS Startup Program, and holds DPIIT recognition under the Startup India initiative.

Where many writing-tool users rely on separate subscriptions for content generation to refinement for grammar correction, paraphrasing, plagiarism checking, citation generation, and editing, Kreativespace brings these functions into a single platform as a super-app for AI writing tools. The company says its approach centers on affordability and accessibility alongside performance, aiming to make advanced AI writing assistance available to a wider range of users regardless of geography or budget.

The idea for Kreativespace took shape while founder Vinet Kakadea was studying at New York University and Marymount University in the United States, where he experienced firsthand how students, researchers, and professionals often need multiple paid subscriptions to cover writing-related tasks. That fragmented experience led him to build a super-app offering each of these capabilities together, at a more accessible price point.

Kreativespace combines 8 AI-powered writing tools with AI Humanizer and Message AI feature being the latest addition, allowing users to generate, rewrite, refine, and humanize content without moving between separate platforms. The product is available via web platform, mobile apps on the App Store and Google Play, browser extensions for Chrome, Mozilla, and Edge, and a Google Docs add-on.

Vinet Kakadea, Founder of Kreativespace, said, “Kreativespace’s vision is to digitalize the entire Indian education ecosystem to support PM Modi’s Atmanirbhar Bharat scheme.”

About Kreativespace

Kreativespace with the Motto of Making Writing Accessible for Everyone: Kreativespace is an AI-powered writing platform built to make AI writing tools accessible, affordable, and effective for students, researchers, educators, professionals, content creators, startups, and enterprises. Founded by Vinet Kakadea, the company is incubated at IIT Kharagpur and has been recognized by AWS Startup Program, the NVIDIA Inception Program, and DPIIT under Startup India. For more information, visit kreativespace.com.

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