As Covid ebbs, focus shifts to kids, retirement

Mumbai: With the third wave of the pandemic abating and normalcy setting in, urban Indians are reverting to conventional behaviour with priorities shifting to kids’ education and sustaining lifestyles. Covid had seen a shift in focus to financial security for the untimely death of the breadwinner and medical expenses due to infection.

According to the India Protection Quotient survey conducted annually by Max Life Insurance in partnership with Kantar, 79% of respondents felt that the current situation will get better because of vaccination. “People who have taken both doses are feeling more secure than those who have not. This is a big call-out to everybody to get vaccinated,” said Max Life Insurance MD & CEO Prashant Tripathy. The latest survey was conducted between December 10, 2021, and January 14, 2022, with 5,729 respondents across 25 cities.

While the focus has again shifted to savings and investment, there has been a decrease in spending on luxury with the index falling to 15 from 16 last year.