North India’s Gen Z Emerges as Top Buyer of Term Insurance with 25% Adoption – Tata AIA Life’s report 56h17

New Delhi, 10^th June, 2025 – Working Generation Z in North India, between the ages of 21 and 29, are setting new benchmarks in financial protection, with 25% already owning term insurance policies—one of the highest adoption rates nationwide, according to a comprehensive research study by Tata AIA Life Insurance and NielsenIQ. Titled ‘New Age Habits, Traditional Values: Gen Z’s Approach to Financial Planning’, the study surveyed working Gen Z individuals aged 21–29 years (born between 1997-2012). This generation demonstrates remarkable financial awareness and proactivity compared to their counterparts in other regions.

Key Findings: North India Gen Zs Prioritize Early Protection and Long-Term Security

Term Insurance Leading the Way:

• 25% of Generation Z respondents in the Northern region currently hold term insurance policies—a standout adoption rate
• This reflects a pronounced awareness of protection needs at an early career stage

Strategic Financial Planning:

• 63% identify building an emergency fund as their primary short-term objective
• 50% prioritize adequate retirement savings through life insurance as their key long-term goal
• 58% aim for financial independence and early retirement—higher than the 47% in South India

Investment and Spending Patterns:

• 49% are willing to allocate more than Rs 2,000 monthly for life insurance coverage
• 55% have invested in gold, demonstrating appreciation for traditional value-preserving assets
• 61% strongly favor conventional savings instruments like fixed and recurring deposits

Insurance Selection: Key Decision Drivers

When choosing life insurance products, North India’s Gen Zs prioritize:

• Value optimization (66% seek affordable s with comprehensive coverage)
• Tax efficiency (61% value attractive tax-saving benefits)

Digital-First Financial Information

In this digital era, North India’s Gen Z shows distinct information-seeking behaviors:

• 22% rely on social media platforms like Instagram and YouTube for financial guidance and insights

“The findings from North India clearly show that Gen Z here are financially aware and proactive in investing. They plan early, seeking retirement options and demanding transparency from a young age. At Tata AIA, we are committed to empowering them with simplified, tech-led insurance products ing their aspirations and long-term financial well-being,” said Girish Kalra, Chief Marketing Officer, Tata AIA Life Insurance.

Conclusion

North India’s Generation Z is redefining protection planning through early adoption of term insurance, balanced investment portfolios, and clear long-term financial objectives. Their sophisticated approach to financial security presents a significant opportunity for insurers to develop tailored solutions that address both their immediate needs and future aspirations.