Project Inspire: 'Future Proofing' HDFC Life

Life Insurance: A preferred savings instrument Household savings composition Financial savings mix 22% 18% 22% 20% 0% 8% 15% 15% 22% 19% 18% 21% 17% 23% 55% 52% 59% 68% 16% 17% 32% FY13 45% 41% 67% 56% 48% 48% 38% FY16 FY20 FY22 FY13 FY16 ■Financial savings ■Physical savings ■Currency & deposits ■Life insurance Household savings as % of GDP FY20 ■Provident/Pension fund Increasing preference towards financial savings with increasing financial literacy within the population Various government initiatives to promote financial inclusion: Implementation of JAM trinity. Deposits in PMJDY accounts nearly doubled in 4 years from INR 0.96 Tn to INR 1.95 Tn о Nearly 90% of people in the country have a bank account, without any sharp urban-rural divide Launch of affordable PMJJBY and PMSBY social insurance schemes Atal Pension Yojana promoting pension in unorganized sector Source: RBI, CSO, MOSPI, CRISIL, India Ratings 37 FY22 Others HDFC Life

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