Insurance products emerged as the preferred choice of savings and investments for parents after the pandemic, as they consider these as low-risk and reliable financial tools to meet future goals, according to a survey. The Future Fearless survey -- conducted by Ageas Federal Life Insurance and YouGov India to understand the impact of the COVID-19 pandemic on the financial preparedness of Indian parents in planning for their children’s education -- revealed that saving for academics has taken precedence over other life goals.
The survey was based on an online self-administered quantitative method carried out in 11 cities. The responses were collected from 1,333 parents with kids under the age of 10 years.
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