India focusing on unconventional life goals, says survey

India focusing on unconventional life goals, says survey

Agency News

New Delhi, Jun 24: India is focusing on unconventional life goals, entrepreneurship, health and fitness and travel, a study said here on Monday.

Private life insurer Bajaj Allianz Life unveiled India’s first ever comprehensive study -- India’s Life Goals Preparedness Survey 2019. It is the company’s first flagship survey to identify the life goals, aspirations of India and how Indians are preparing to get them done.

According to the survey, a rising life goal of Indians is being an entrepreneur where one in every 10 Indian wants to start something new or pursue a parallel career. Retirement related life goals are also becoming a priority, especially amongst Indian millennials. Two in five Indians have retirement related life goals; more so in metros, where every one in two people has a retirement related life goal. In the survey, more than 150 life goals were mapped. Bajaj Allianz Life India’s Life Goals Preparedness Index is 53. This is a function of confidence, knowledge and most importantly action taken towards financial planning for their Life Goals.

Bajaj Allianz Life Insurance MD and CEO Tarun Chugh said, “Having embarked on the journey to become life goal enablers, the scientific and in-depth findings will play an essential role in our business strategy. The insights from the first of its kind survey clearly indicate how life goals are evolving, and millennials are opting for unconventional life goals. Furthermore, it’s interesting to note, women driving some of these new-age life goals like travel, health and fitness.”

A total of 1681 people were met and interviewed. They included a healthy mix of age-groups, socio-economic bands and different professionals. (UNI)