Business news : Investors below 35 most financially savvy, says report

Individuals aged 26-35 exhibit the highest intention to invest in health and life insurance, fixed deposits and mutual funds in the next year, indicating a proactive approach towards financial planning.

This was revealed in a study titled ICICI Lombard’s report on emerging trends in health insurance with focus on taxation benefit.

At the same time, individuals aged 26-45 make a greater set of investments, the report states.

The preference for health insurance as a tax-saving option is on the rise in non-metro areas, emphasising its increasing appeal beyond major cities.

A remarkable 84 percent of financially savvy customers have invested in health insurance, showcasing the growing recognition of the importance of health coverage.

Lower awareness
The report further highlights that there is a need to spread awareness with only 54 percent of consumers being fully aware of how they can save tax by investing in health insurance.