HDFC Life Corporate Presentation
Life Insurance: A preferred savings instrument
Household savings composition
Financial savings mix
22%
18%
20%
22%
3%
8%
12%
15%
22%
19%
18%
19%
47%
17%
23%
68%
65%
60%
17%
17%
32%
FY13
40%
35%
67%
56%
50%
53%
38%
FY16
FY19
FY21
■Financial savings
■Physical savings
Household savings as % of GDP
FY13
FY16
■Currency & deposits
Life insurance
Increasing preference towards financial savings with increasing financial literacy within the population
Various government initiatives to promote financial inclusion:
Implementation of JAM trinity
Launch of affordable PMJJBY and PMSBY social insurance schemes
Atal Pension Yojana promoting pension in unorganized sector
Source: DBIE-RBI Statistics, RBI Annual Report, Economic Survey, CSO, www.pmjdy.gov.in
45
FY19
FY22
■Provident/Pension fund
■ Others
HDFC
LifeView entire presentation