New Delhi, 10th 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 premiums 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 supporting 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.
About the Study
Tata AIA commissioned NielsenIQ to conduct this study across eight major cities (Delhi, Mumbai, Bangalore, Kolkata, Hyderabad, Pune, Jaipur, and Patna), surveying working Gen Z individuals aged 21-29. The sample included an equal split between metro and non-metro regions, with 50% male and 50% female respondents and an average age of 25.
