A Financial Awakening, ET BFSI

25% of Working Gen Z in North India Hold Term Insurance, Tops National Average
A recent report titled ‘New Age Habits, Traditional Values: Gen Z’s Approach to Financial Planning’ by Tata AIA Life Insurance, conducted with NielsenIQ, highlighted that Generation Z from North India demonstrates remarkable financial awareness and proactivity compared to their counterparts in other regions.

According to the survey report, 25% of working Gen Z (ages 21–29) in North India hold term insurance- among the highest in the country. The cohort prioritizes early protection, with 63% focused on building emergency funds and 58% aiming for early financial independence. Affordable premiums, tax benefits, and traditional saving instruments remain key decision factors.

In terms of savings and investment behaviour, nearly 49% are willing to allocate ₹2,000 or more per month to insurance premiums. Additionally, 55% invest in gold, while 61% use fixed or recurring deposits.When evaluating insurance plans, 66% prefer affordable products with comprehensive coverage, and 61% are motivated by tax benefits.

Despite their digital orientation, 53% still turn to agents or bank advisors for policy purchases, while 22% follow social media channels like Instagram and YouTube for financial guidance.

Girish Kalra, Chief Marketing Officer at Tata AIA, commented: “The findings from North India clearly show that Gen Z here are financially aware and proactive in investing. They plan early, seeking retirement options and demanding transparency from a young age. At Tata AIA, we are committed to empowering them with simplified, tech-led insurance products supporting their aspirations and long-term financial well-being.”

• Published On Jun 11, 2025 at 07:45 PM IST

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