Life insurance has emerged as the most preferred financial product in this survey. This not only provides financial security to the families, but also removes their concern about emergency medical expenses.
Most of the consumers are planning to buy life insurance products during the next six months as part of their investment plan.
Insurance has become the most preferred financial product for families to relieve health related emergencies after the Covid-19 epidemic. According to a survey by Tata AIA Life Insurance, now more number of people are preparing to invest in insurance products in the next six months. This consumer confidence survey has been conducted by research agency Nielsen. Through this, an attempt has been made to know what effect of Covid-19 has on the confidence of consumers.
Life insurance has emerged as the most preferred financial product in this survey. This not only provides financial security to the families, but also removes their concern about emergency medical expenses. According to the survey, most consumers are planning to buy life insurance products during the next six months as part of their investment plan. The survey was done on 1,369 people in nine centers. The survey has revealed the fact that 51 per cent of the people invested in insurance during the epidemic. At the same time, 48 percent of the people invested in health-related insurance solutions. This is much higher than other financial asset classes.
Life insurance has brought positive changes
50 percent of the people involved in the survey said that during the epidemic there has been a positive change in their views about life insurance. 49 per cent said that they would like to invest in life insurance cover during the next six months. At the same time, 40 percent expressed their intention to invest in health insurance. The survey also revealed the fact that 30 percent of the people invested in life insurance for the first time during the epidemic. At the same time, 26 percent people invested in health related insurance solutions for the first time.
Economic concern
Financial security is a major priority for people regarding medical emergencies and medical expenses. 62 percent mentioned this in the survey. At the same time, 84 percent said that they are concerned about the safety of themselves and family because of the corona virus. 61 per cent said that they are worried about their family and their biggest concern at this time is economic slowdown.
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