Mar 2012: HDFC Life, in association with ValueNotes, launched its inaugural Life Freedom Index report, which assesses the current state of financial freedom of Indian urban consumers, their awareness about available products, their sufficiency and adequacy of financial planning, and above all their current state of financial freedom.
Some of the key findings of the HDFC Life ValueNotes Life Freedom Index include –
Not financially free: Indian urban consumers’ Life Freedom Index at 58.3 on a scale of 0-100 denotes that they are not completely insecure financially, but have a long way to go before achieving a complete state of financial freedom.
Most concerned about child’s education: Child’s education (75%) is the primary concern during financial planning, followed by health expenses (61%) and retirement (57%).
Urban Indian Women are not completely financially free: While the Urban Indian Woman is becoming financially independent, she is not completely financially free and needs improvement on aspects such as financial planning, sufficiency and adequacy, and has a long way to go when it comes to goal-based financial planning.
– To download a complimentary copy of the report, please follow this link