A market shift led by East India’s Gen Z is redefining retirement planning strategies, with 63% of working youth (ages 21–29) identifying life insurance as their primary retirement tool—the highest in the country, according to Tata AIA Life Insurance and NielsenIQ’s latest report, “New Age Habits, Traditional Values.”
The study highlights East India’s balanced investment mix, where 54% favor fixed or recurring deposits, 47% invest in gold, and 43% participate in equities. Term insurance awareness is growing: 11% already own a policy, while 44% intend to buy one soon. Insurance choices are driven by affordable premiums with strong coverage (56%), tax-saving benefits (51%), and seamless service (36%).
The demand for flexible, tax-efficient retirement solutions—especially ULIPs and term plans—is growing rapidly. Financial influencers on platforms like Instagram and YouTube play a pivotal role in shaping their investment decisions. Girish Kalra, CMO, Tata AIA Life Insurance, noted, “It’s promising to see East India’s youth actively planning for the future. We aim to empower them with accessible and trustworthy financial products tailored to their goals.”
