Rural India’s Protection Quotient improves to 16, yet significant gaps remain in ownership, gender parity, and regional financial security
Read more at :
https://www.axismaxlife.com/maxlife-ipq
New Delhi, July 16, 2025: Axis Max Life Insurance Limited (formerly Max Life Insurance Company Limited), in partnership with global marketing data and analytics leader Kantar, has released the Rural Edition of India Protection Quotient (IPQ) 7.0, revealing encouraging yet concerning insights into rural India’s financial preparedness and life insurance penetration.
The survey, conducted across 155 villages in 25 cities, highlights a 4-point increase in rural India’s Protection Quotient—rising from 12 in IPQ 5.0 to 16 in the latest edition. While awareness of life insurance products has improved, ownership levels remain just one-third of urban India’s, indicating a persistent protection gap.
Key Findings from IPQ 7.0 Rural Edition:
Urban-rural gap remains stark: Rural Protection Quotient stands at 16, compared to much higher urban indices, with a 32-point gap.
Gender disparity persists: Rural women report a lower Protection Quotient of 14 vs. 17 for rural men, lagging in awareness, ownership, and confidence.
Regional divide: West India leads rural protection indices, while the East reports the lowest ownership, with just 2% Savings Plan coverage.
Perception barriers: 43% believe life insurance benefits only the family, not the individual, limiting adoption.
Digital surge: Financial transactions have doubled, with 88% rural respondents using mobiles for social media and 40% adopting UPI and mobile banking.
Prashant Tripathy, CEO & MD, Axis Max Life, said:
“IPQ 7.0 Rural Edition signals a defining shift—awareness and aspirations in rural India are rising. Yet, the persistent protection gap is a call to action. As we align with IRDAI’s vision of ‘Insurance for All by 2047,’ the industry must rethink how we serve Bharat—through simplified products, inclusive advisory networks, and tech-driven models. The future of insurance will be shaped not just by innovation, but by empathy and intent.”
The findings highlight that financial anxiety remains high, with 1 in 4 rural Indians unsure if their savings will last a year, despite increasing optimism among the financially aware. Women-led households and SHG-affiliated women showed better engagement, and younger rural women (25–35) demonstrated higher digital and financial curiosity, indicating pathways for gender-inclusive outreach.
Public schemes continue to be the cornerstone of rural financial investment, with over 60% relying on government-backed products or SHG loans. Awareness of market-linked products like mutual funds remains minimal, while health insurance ownership is gradually improving, signaling rising medical preparedness.
The IPQ 7.0 Rural Study sampled 1,620 respondents aged 22–55 from households earning INR 50,000 and above annually. The findings reaffirm the need for targeted education, simplified insurance solutions, and regional interventions to bridge India’s rural-urban protection divide.
About Axis Max Life Insurance Limited