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Insurance best retirement tool for Indians

Indians find life insurance the most suitable retirement planning tool, followed by bank deposits. As much as 75% of the working population and 55% of retired respondents in the country cited life insurance as their primary retirement plan tool.

Indians are pretty clear that they do not want to take risks as far as their retirement planning is goes. Therefore, life insurance and bank deposits, which virtually do not have any financial risks, are the most popular. However, two Indians out of 10 find high-risk, high-return products more appealing.

This annual study was launched in 2004. This year’s research compares findings in 26 countries that were surveyed. The research has India as a first-time participant.

Respondents from Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad and Pune included both working and retired population in equal proportion. As many as 839 persons were interviewed in India, about 400 retired and another 400 working.

This is an extract of the study conducted by Bharti AXA Life Insurance is a joint venture between Bharti Enterprises and AXA. AXA Asia Pacific Holdings (APH) holds 26% in the Indian entity, while Bharti Enterprise holds 74%.
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