Widening Gender Gap in Financial Preparedness Among Urban Indians
The seventh edition of the India Protection Quotient study reveals a widening financial preparedness gap between urban working men and women in India. With women's Protection Quotient stagnant at 48 and men's rising to 50, the study highlights women's heightened anxieties about inflation, healthcare, and financial security.
- Country:
- India
Axis Max Life Insurance Ltd., in collaboration with KANTAR, has unveiled findings from its latest India Protection Quotient (IPQ) study, highlighting a growing financial protection disparity between urban working men and women in India.
The study, under the company's 'Bharosa Talks' initiative, shows that while working men have seen an increase in their Protection Quotient score to 50, women's scores have remained at 48. This stagnation reflects continued financial anxieties among women, particularly regarding retirement, education, and healthcare costs.
Prashant Tripathy, CEO & Managing Director of Axis Max Life, emphasized the need for more inclusive financial plans that address India's gender-specific protection gaps, urging the industry to prioritize gender-responsive frameworks.
(With inputs from agencies.)
Google News