The study, which covers 17 cities, with a size of about 11,800 working adults, reveals that urban Indians have around a third (34%) of their income available as investible income (savings and investment) after accounting for their household expenditure, rent and liabilities. The investible surplus goes down among the younger age group to 25%.
Highlights of Nielsen study.!
# little over 60% of urban Indians hold an insurance policy, and it also accounts for a large share of their future investments.
# On an average, urban Indians plan to allocate over half (53%) of the investible income to life insurance. However, most policyholders are covered for as less as 1.3 times their annual income.
# A majority of the young investor segment, which accounts for nearly a fifth of the population, does not hold a life insurance policy. However, even this group, the study points out, is risk averse and is the most enthusiastic to invest in life insurance in the immediate future. The concern, for most of them (55% of the respondents), is the premium that they need to pay.
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