'96% not sure of survival on savings' Video

'96% not sure of survival on savings' Video

BS Reporter / Mumbai February 22, 2007

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Ninety Six per cent of Indian households feel that they cannot survive for more than one year on their current savings in case of loss of major source of household income. Though 81 per cent of households save, they do not invest wisely. Fifty four per cent households are confident about their current and future financial stability, while seventy eight percent of Indian households are aware of life insurance, however only one fourth of households own a life insurance policy. These are some of the key findings of Max New York Life- National Council of Applied Economic Research (NCAER)-India Financial Protection Survey.

In June 2005, Max New York Life Insurance Company approached the NCAER, India