Multi-Pronged Risk Management and Protection Philosophy

Life Insurance: A preferred savings instrument Household savings composition Financial savings mix 45 25% 22% 18% 19% 3% 11% 8% 12% 15% 13% 19% 18% 20% 52% 26% 17% 68% 65% 60% 14% 48% 32% 35% 67% 56% 51% 50% 40% FY10 FY13 FY16 FY20 ■Financial savings ■Physical savings Household savings as % of GDP FY10 FY13 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 FY16 ■Provident/Pension fund FY20 Others HDFC Life

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