Axis Max Life Insurance has launched ‘Bharosa Talks’, a flagship initiative designed to explore India’s evolving mindset toward financial protection. Partnered with the latest India Protection Quotient (IPQ) 7.0 study, this platform highlights real stories and data from across demographics and regions, aiming to deepen understanding of how Indians view life insurance, security, and long-term financial planning in today’s changing economic landscape.
| Aspect | Key Insight |
|---|---|
| Life Insurance Ownership | Reached a record 78% in urban India, showing rising financial security awareness. |
| Protection Quotient | Urban Protection Quotient rose to 48 from 35 in 2019, indicating stronger intent for financial coverage. |
| Priority Shift | ‘Coverage’ now surpasses ‘Premium’ as the primary consideration in term insurance purchases. |
| Regional Leaders | South India leads with 84% life insurance ownership; Bengaluru, Chennai, and Hyderabad top cities. |
| Demographic Highlights | Women in South India have an 86% ownership rate; younger generations drive growth in protection. |
| Community Insight | LGBTQIA+ community shows lower Protection Quotient, highlighting inclusion opportunities. |
Axis Max Life Insurance has taken a pioneering step with the launch of ‘Bharosa Talks’, an initiative built around amplifying real-life stories and robust data to capture the nuances of India’s protection mindset. Collaborating with Kantar, the company recently released the India Protection Quotient (IPQ) 7.0, a study surveying over 6,000 households across 25 cities.
This extensive research highlights a remarkable rise in life insurance adoption, with urban India now boasting a 78% ownership rate — a historic high. The Protection Quotient, which measures intent and preparedness for financial protection, jumped from 35 in 2019 to 48 in 2025. A notable behavioral change is that consumers are now prioritizing the extent of coverage over premium costs when selecting term insurance, reflecting maturing awareness of insurance’s true value.
Regionally, the South of India stands out, leading with an 84% life insurance ownership, and cities like Bengaluru, Chennai, and Hyderabad exemplify this trend. Interestingly, women in this region have an 86% ownership rate, outperforming male counterparts and the national female average of 75%. Younger generations such as Gen Y and Gen X are key drivers of this growth, increasingly opting for a mix of term, savings, and market-linked products.
However, the study also spotlights challenges — notably, the LGBTQIA+ community has a Protection Quotient score significantly lower than the urban digital average, signaling the need for more inclusive insurance products and awareness efforts.
For the insurance sector, these insights stress the importance of tailoring products to diverse demographics, enhancing financial literacy campaigns, and addressing affordability and accessibility. ‘Bharosa Talks’ thus represents more than a campaign — it is a call to action to deepen trust and widen coverage, ensuring every Indian feels confident and secure about their financial future.
Why It Matters
- The growing life insurance ownership signals India’s increasing financial maturity and security awareness.
- Shifting priorities toward coverage over cost indicate more informed, protection-focused consumers.
- Regional and demographic insights help insurers design targeted and inclusive products.
- Understanding gaps, especially in marginalized communities, can drive social equity in financial protection.
Axis Max Life’s ‘Bharosa Talks’ and IPQ 7.0 survey together illuminate the evolving protection mindset in India — a vital step toward building a financially secure and inclusive future for all.
The increasing awareness and demand for protection in India are spurring industry shifts, with InsurTech startups targeting rural gaps left by PolicyBazaar post tariff crisis. This trend underscores the urgent need to bridge coverage divides and bring financial security to all corners of the country.
For more insurance updates and financial literacy news, visit eBharat.com
