What worries Indians most today?
- Rising medical costs
- Instability of jobs
- Concerns around health of self and family members
- Economic slowdown
- Mental health due to increased workload
- Loss of life during pandemic
- Inadequate insurance
What does financial immunity mean to Indians?
- 57% think it’s the ability to maintain financial security and stability
- 48% say it means earning income from multiple sources
- 43% equate it with having a secure job or business
- 36% think it’s the ability to generate income in the pandemic
- 36% feel it means living independently without relying on loans
- 35% say it is the ability to live one’s dreams without compromising on responsibilities
How has covid impacted financial lives of Indians?
What are the milestones most impacted?
- 41% feel ability to save and accumulate wealth hit
- 37% have seen domestic and international travel plans jeopardized
- 29% think it affected providing for kids’ education
- 27% could not start own business or venture
- 26% have had to put off buying durables and gadgets
- 24% have deferred buying a car
- 23% have postponed plans to buy a home
- 18% have had plans for self or child’s marriage affected
- 12% have had retirement plans threatened
How are people tackling impact of pandemic on income?
How are Indians building financial immunity?
- 68% have got vaccinated
- 56% have accumulated emergency funds
- 53% bought health insurance policy
- 53% bought life insurance policy
How have attitudes towards savings and investments changed?
How has covid changed attitude towards insurance?
Source: SBI Life Financial Immunity Survey 2.0 in collaboration with Nielsen IQ (India Pvt Ltd). The survey covered 5,000 respondents.
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