2 in 3 Indian Women are Investing for Retirement, Surpassing National and Men’s Averages: Max Life IRIS 4.0

Max
Life
Insurance
Company
Ltd.
(“Max
Life”/
“Company”)
today
unveiled
the
women-centric
findings
of
the
fourth
edition
of
its

India
Retirement
Index
Study
(IRIS),
spotlighting
significant
progress
in
women’s
retirement
planning
and
financial
preparedness.
The
study
underscores
an
encouraging
trend
in
women’s
proactive
efforts
to
secure
a
financially
independent
and
peaceful
retirement.

2
in
3
Indian
women
are
investing
for
retirement,
surpassing
National
and
Men’s
Averages:
Max
Life
IRIS
4.0

Prashant
Tripathy,
CEO
&
Managing
Director,
Max
Life
Insurance,
said,

“Preparing
for
retirement
is
a
critical
priority
for
the
future
of
Indians,
especially
as
life
expectancy
rises
with
advancements
in
healthcare,
emphasizing
the
need
for
long-term
financial
planning.
Notably,
urban
Indian
working
women
are
taking
the
lead
in
investments,
actively
securing
their
financial
futures.
These
trends
highlight
a
positive
shift
towards
proactive
retirement
planning
and
financial
independence
among
urban
Indians.”

Key
Findings
from
IRIS
4.0:
Women’s
Retirement
Progress

Enhanced
Retirement
Preparedness

Women’s
Retirement
Index
climbed
to
50,
a
notable
increase
from
47
in
the
previous
edition,
placing
them
ahead
of
both
the
men’s
and
the
national
average
of
49.
Key
indices
also
showcased
growth,
with
the
Finance
Index
rising
from
50
to
53
and
the
Health
Index
increasing
by
2
points
to
47,
while
the
Emotion
Index
remained
steady
at
59.

Shift
Towards
Risk-Based
Investments

This
year’s
findings
revealed
a
growing
preference
among
women
for
risk-based
financial
products,
with
more
than
1
in
3
having
invested
in
options
such
as
mutual
funds/SIPs
(27%)
and
the
stock
market
(20%).
Motivated
primarily
by
the
goal
of
saving
for
retirement,
68%
of
women
reported
investments
in
retirement
products,
outperforming
the
national
(63%)
and
men’s
(61%)
averages.
Other
popular
financial
instruments
included
life
insurance,
health
insurance,
and
fixed
deposits,
signifying
a
diversified
approach
to
retirement
planning.

Prioritizing
Financial
Independence

Financial
independence
during
retirement
emerged
as
the
top
motivator
for
investments
among
women.
Maintaining
their
lifestyle
and
family
recommendations
also
played
a
key
role,
with
46%
citing
advice
from
loved
ones
as
a
significant
trigger.
This
highlights
the
importance
of
community
influence
in
women’s
financial
decisions.

Health
and
Emotional
Well-Being

Health
and
wellness
remain
integral
to
women’s
retirement
plans.
While
only
4
in
10
women
engage
in
regular
physical
activities,
a
majority
(over
80%)
do
so
at
least
three
times
a
week.
Nearly
half
(49%)
have
health
insurance,
and
82%
feel
optimistic
about
maintaining
good
health
during
retirement.
On
the
emotional
front,
more
than
73%
associate
retirement
with
positive
aspects
of
life
–
independence
and
a
stress-free
life
being
the
top
two
factors.
However,
concerns
around
loneliness
and
financial
dependence
persist.

Challenges
and
Way
Forward

Despite
these
advancements,
barriers
remain.
Over
half
(55%)
of
women
believe
their
financial
investments
may
not
last
beyond
a
decade
of
retirement.
Cultural
reliance
on
family
wealth,
children,
and
competing
priorities
continue
to
hinder
long-term
planning.
Encouragingly,
45%
of
women
now
recognize
the
importance
of
starting
retirement
investments
before
the
age
of
35,
up
from
39%
in
the
previous
edition.

The
findings
also
reveal
the
need
for
greater
awareness
and
education
around
financial
planning,
particularly
to
address
women’s
concerns
about
inflation,
rising
medical
expenses,
and
environmental
challenges
like
global
warming.

The
study
paints
a
hopeful
picture
of
women’s
growing
financial
and
retirement
preparedness,
while
also
highlighting
areas
that
require
continued
focus.
At
Max
Life
Insurance,
we
remain
dedicated
to
enabling
women
across
India
to
take
charge
of
their
financial
futures
through
tailored
products
and
sustained
awareness
efforts.
Together,
we
can
build
a
future
where
financial
independence
and
security
are
within
everyone’s
reach.

About
India
Retirement
Index
Study

India
Retirement
Index
Study
is
an
annual
retirement
study
by
Max
Life
conducted
in
partnership
with
KANTAR.
The
survey
aims
to
understand
the
retirement
readiness
of
Urban
India,
with
insights
into
awareness,
aspirations
and
challenges
of
consumers
during
retirement
and
its
planning.
India
retirement
index
is
the
degree
to
which
Indians
feel
prepared
for
tomorrow’s
retired
life
on
a
scale
0
to
100.
It
is
based
on
how
prepared
India
is
for
a
healthy,
peaceful
&
financially
independent
post-retirement
life.

About
Max
Life
Insurance

Max
Life
Insurance
Company
Limited
is
a
Joint
Venture
between
Max
Financial
Services
Limited
and
Axis
Bank
Limited.
Max
Financial
Services
Ltd.
is
a
part
of
the
Max
Group.
Max
Life
offers
comprehensive
protection
and
long-term
savings
life
insurance
solutions,
through
its
multi-channel
distribution
including
agency
and
third-party
distribution
partners.
Max
Life
has
built
its
operations
over
two
decades
through
a
need-based
sales
process,
a
customer-centric
approach
to
engagement
and
service
delivery
and
trained
human
capital.
As
per
annual
audited
financials
for
FY2023-24,
Max
Life
has
achieved
a
gross
written
premium
of
INR
29,529
Cr.

For
more
information,
please
visit
the
Company’s
website
at

www.maxlifeinsurance.com.

About
Kantar

Kantar
is
the
world’s
leading
marketing
data
and
analytics
business
and
an
indispensable
brand
partner
to
the
world’s
top
companies.
We
combine
the
most
meaningful
attitudinal
and
behavioural
data
with
deep
expertise
and
advanced
analytics
to
uncover
how
people
think
and
act.
We
help
clients
understand
what
has
happened
and
why
and
how
to
shape
the
marketing
strategies
that
shape
their
future.

To
know
more,
visit

www.kantar.com.