Life,Holistic Living: Delivering Superior Customer Experience

Life Insurance: A preferred savings instrument Household savings composition Financial savings mix 22% 18% 20% 22% 3% 8% 12% 15% 22% 19% 18% 19% 23% 47% 17% 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 47 FY19 FY22 ■Provident/Pension fund ■ Others HDFC Life

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