Bangalore, August 7, 2025: Axis Max Life Insurance Limited (“Axis Max Life” / “Company”), formerly known as Max Life Insurance Company Limited, today unveiled the South Zone findings of the seventh edition of its flagship study – India Protection Quotient (IPQ), conducted in partnership with KANTAR, the world’s leading marketing data and analytics company. The findings from South India reflect continued leadership in financial preparedness, awareness, and life insurance ownership.
Axis Max Life is launching the India Protection Quotient 7.0 under the unified narrative of ‘Bharosa Talks’ that will spotlight India’s evolving financial and protection mindset. Through this platform, Axis Max Life aims to amplify real voices across demographics – urban, rural, salaried, gig workers, and retirees, offering authentic insights into how India views protection, planning, and long-term security. As financial anxieties shift over time and aspirations evolve, Bharosa Talks will serve as a critical pulse for industry, regulators, and policymakers to understand emerging consumer priorities.
Sumit Madan, Chief Distribution Officer, Axis Max Life said, “The South Zone continues to lead India in financial foresight, with cities like Chennai, Hyderabad, and Bengaluru surpassing national benchmarks. Insights from IPQ 7.0 show a clear shift from awareness to action, with more people prioritizing protection over cost and viewing life insurance as essential to family security. Women respondents, along with Gen X and Gen Y cohorts in South India are emerging as core drivers of this momentum demonstrating rising ownership, financial confidence, and goal-oriented investment behaviour. Their choices mark a cultural inflection point, where life insurance is evolving from a transactional product to a long-term financial strategy. As women outpace men in ownership and security scores, and younger cohorts accelerate product adoption, we are witnessing a decisive shift in financial priorities laying the foundation for protection-led financial ecosystems across the country.”
South India continues to top India’s protection scoreboard
As per IPQ 7.0, South India recorded 84% life insurance ownership, the highest in the country, and consistently ahead of the national urban average of 78%. The region also leads in awareness and perceived financial security, with 2 in 3 respondents expressing confidence in their investment decisions and financial understanding. Encouragingly, 77% now consider term plans essential to safeguarding their families, significantly higher than the national average of 67%.
South Indian women and younger cohorts drive financial growth
South Indian women are leading the zone’s financial protection progress. As per IPQ 7.0, life insurance ownership among women in South India stands at 86%, outperforming both South Indian men (83%) and the national female average of 75%. They also exhibit stronger scores in the Knowledge and Security Index, reflecting higher financial awareness and confidence. This regional trend contrasts with the national picture, where working women report slightly lower security and greater financial anxieties than men — reinforcing South India’s progress in narrowing the gender gap in financial preparedness.
Alongside women, Gen Y and Gen X are propelling insurance adoption and long-term protection planning across the South. These younger cohorts have shown a marked rise in ownership of term, savings, and market-linked insurance products. Their strong intent around financial planning and protection indicates a generational shift toward disciplined, goal-based investment behaviour.
City-Wise Findings: South Zone Leads with Bengaluru at the Helm
The South Zone continues to top India’s financial protection landscape, with Bengaluru recording the highest protection quotient of 61 in the zone, followed by Hyderabad at 46 and Chennai at 44. Chennai leads with 91% Life Insurance ownership and a Security Index of 69%, reflecting strong financial preparedness. Hyderabad stands out with the zone’s highest security level at 81% and a respectable Life Insurance ownership at 77%. Meanwhile, Bengaluru ranks highest on awareness with a Knowledge Index of 85, demonstrating superior understanding of insurance products. These metro-specific strengths continue to drive South India’s leadership in financial protection across the country.
South India sees shift from Cost to Coverage and a rise in Purpose-Driven Financial Planning
Awareness of term, savings, and ULIP products continues to grow, while 2 in 3 South Indians report high confidence in their financial knowledge and investment decisions. The region also reflects a more proactive approach to protection-led planning, setting it apart in India’s evolving financial landscape.
Yet, 1 in 3 urban South Indians have never considered buying term insurance, with perceived affordability and lack of urgency continuing to be key barriers. Encouragingly, IPQ 7.0 also highlights a deeper shift in saving behaviour: nearly 1 in 2 South Indians now invest with clear intent, prioritising long-term goals like children’s marriage and home ownership more than any other region. This signals a growing alignment between protection products and life-stage financial aspirations across the zone.