With soaring inflation and living costs, almost 85% of middle income earners in India aspire to pay higher insurance premiums to maintain the level of their lifestyles and amenities, points out an ING Investor Dashboard Survey.

The survey further says that almost two-thirds of those whose risks are already covered, are now willing to fork out more premiums to buy additional insurance when their policies are up for renewal in next term.


Among the needs to protect their lifestyles include better education for children at prior-most level followed by protection of family income and saving for retirement, proper health care facilities and housing conditions. Most of the insured prefer to cover their risks through endowment policies and term plans.

However, the trend catches up in investments in ULIPs whenever markets stage a smart recovery; but the ULIP ride has to go through the tidings of market risks every now and then. Furthermore, in rising interest rate environment, investors have preferred to stay invested in bank fixed deposits, once insurance premium obligations are met.

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