India Protection Quotient 2.0 Survey Reveals Millennial Trends

According to the findings of the India Protection Quotient 2.0 survey, conducted by Max Life Insurance in partnership with Kantar, the knowledge index for millennials has risen by 10 points to 48. The industry has been doing extensive work to make millennials more aware about the importance of being financially protected right from early years. Millennials' average expenses are almost 57 per cent of their income while savings are only 24 per cent, down from 26 per cent last year, the survey reveals. One can conclude from these findings that millennials are more focused on current gratification rather than future.