Bhubaneswar: Bhubaneswar has taken the pole position in a pan-India ranking in terms of insurance ownership.
In a “India Protection Quotient Survey” by private insurer Max Life, Bhubaneswar led 14 other cities in owning term insurance as well, some media reports said quoting the survey.
Seventy-eight per cent of Bhubaneswar’s residents own life insurance, making it among the more insured cities in the country. Sixty-seven per cent of the city’s women possess life insurance products, as opposed to 74 per cent for men.
In term insurance ownership, women rank higher with 27 per cent, compared to 23 per cent in case of men.
Bhubaneswar also boasts of the highest proportion of term insurance ownership, with 40 per cent of its respondents in the survey having taken such a plan. In the “Knowledge Index”, the degree to which Indians are aware of life insurance products, on a scale of zero to 100, Bhubaneswar has fared well, with a score of 40, exceeding the national average of 39. Delhi clocked the highest score at 58, with Ludhiana languishing at the bottom (with a score of eight).
The survey said 64 per cent of its population is aware of the cover’s benefits.
The survey covering 4,566 respondents across six metros and nine Tier-I cities sought to get a sense of the country’s positioning in terms of life and term insurance ownership.