In the wake of the Covid-19 pandemic, most Indians want to secure their family’s financial well-being as a priority. In addition, they want to lead a happy and balanced life with clear-cut career and travel goals, according to a survey by Bajaj Allianz Life Insurance
Providing financial security for the family is the top life goal of most Indians in the aftermath of the Covid-19 pandemic. A huge 71 per cent of those surveyed prioritised providing financial security to family over other kind of life goals, according to a survey by Bajaj Allianz Life Insurance.
The survey involved 1,936 people in the age group of 22-55 years across 13 cities, including metros, tier-1 and emerging tier-2 cities.
Zone wise, they included New Delhi, Ludhiana and Bareilly in north, Kolkata, Patna and Bhubaneswar in east, Mumbai, Surat and Amravati in west, and Chennai, Bangalore, Madurai and Guntur in the south. Those surveyed included both salaried as well as the self-employed.
Overall, the survey, named Bajaj Allianz Life India’s Life Goals Preparedness Survey 2023 mapped over 40 life goals, evaluating how Indians were preparing themselves to achieve these goals.
The findings revealed that in the aftermath of the covid-19 pandemic, retirement planning, leading a balanced lifestyle, providing for children’s education and a quality life with career growth and adequate travel were the top goals for majority of Indians.
A huge 84 per cent of those surveyed said they desired for a balanced life as against just 51 per cent in 2019. About 59 per cent of those surveyed said living a balanced life was their priority life goals, while two-thirds said they had health and fitness goals compared to just 35 per cent respondents in 2019.
Being physically and mentally fit was among the top-five life goals for many respondents, according to the survey. Health goals was also a priority in the non-metro regions with a 33 per cent points jump, the survey said.
Travelling is a non-negotiable life goal for many Indians, according to the survey. The number of Indians pursuing travel goals, particularly in the metro and among the younger consumers increased by twice, according to the survey.
About 37 per cent said they wanted to travel abroad. In 2019, this did not even figure in the top-10 life goal list.
Indians were also becoming increasingly aspirational in matters of their career prospects. Eight out of 10 Indians surveyed across the salaried or business segment said they had career related life goals, while one of four considered pursuing higher education as a life goal.
“It’s interesting to observe that India’s goals are a mix of accomplishing important goals like financially securing their family and leading a balanced life, along with having an aspiration to do more in one life. This reflects the strong tenets of the growth economy of India, and the increasing confidence among Indians. Post pandemic, the country has emerged stronger and our fundamentals to progress as a nation has outshone many, which I believe has fuelled the aspirations of the nation,” said Tarun Chugh, managing director and CEO, Bajaj Allianz Life Insurance.