Max Life Insurance Co Ltd ("Max Life"/"Company"), one of industry's foremost life insurance companies, today announced that it will dedicate 6th day of every calendar month as 'Protection Day' towards driving awareness around the concept of financial protection.
The decision come closely along the lines of the Company's recently launched Max Life India Protection Quotient survey conducted in association with Kantar IMRB which essentially indicated that the degree to which the Indians feel protected from financial uncertainties was abysmally low at 35.
As a part of this initiative, a wide range of initiatives will be rolled out across Max Life's network of over 240 Max Life's offices and a wider network of its distribution partners. These will include customer education initiatives for all age groups across a wide range of cities. As a part of the initiative the Company will also drive a "Super Customer Week", where customers across the board will be educated about various aspects of financial protection.
"We are in the business of helping people secure the true value of their lives through financial protection to ensure happiness of their families. Celebration of Protection Day every month is a definitive step towards creating a financially secure society. Generally, number 6 denotes love and harmony, which is also symbolic of secured financial future. This is the reason why we selected the 6th day of the calendar month to be a celebration of protection", said Aalok Bhan, Director and Chief Marketing Officer, Max Life.
As per the Max Life India Protection Quotient survey, Indians are underprepared to face financial instability caused by life events. The survey also states that consumers of life insurance feel under-protected because of low uptake, lack of awareness and ownership of term insurance. One of the key finding of the survey was poor awareness levels leading to inadequacy of cover.