a majority relies on life insurance plans for longterm goals finds exide lifes money habits survey 2018i life insurance rules the roostdespite low returns life insurance plans are use to achieve primary goalswhat is your source of funding to buy a house43 life insurance31 bank savings31 mutual funds26 fixed deposits22 provident fundto build a retirement corpus49 life insurance34 provident fund27 mutual funds21 bank savings 24 fixed depositsto fund kids education38 life insurance29 bank savings28 fixed deposits25 mutual funds15 provident fundto fund kids weddings29 fixed deposits28 life insurance24 mutual funds24 gold19 bank savingsto create a legacy50 life insurance30 real estate25 bank savings23 fixed deposits 23 goldii life coverage is inadequateone in three has no idea what ideal life cover should be their current cover is half the ideal requirementrs 20 lakh is the average life cover of those earning between rs 25 lakh and rs 5 lakh per annumrs 30 lakh is the average life cover of those earning between rs 5 lakh and rs 10 lakh per annumrs 50 lakh is the average life cover of those earning rs 10 lakh a year and aboveiii self assessment of coverage overestimates preparednessnearly one in three feels he has enough to take care of his family but many have no cover at all58 feel they have adequate life cover through term insurance31 feel they have enough assets to take care of their families12 are planning to buy a term cover in the near future37 of those earning less than rs 5 lakh have no idea about life cover12 do not have any life insuranceiv not too many are writing willsdespite awareness about importance of leaving a will execution remains low13 have executed a will14 havent heard about a will72 have heard about but havent executed a will81 are saving and investing to build legacy corpus14 have executed a willv digital documentation gets a thumbs upmany have adopted digital modes to store critical documents45 maintain a scanned copy of key documents on their laptops or desktops39 store photos of documents on their mobile phones27 carry the documents with them in their bags or wallets13 use government apps like umang or digi locker to store themsource exide life insurance money habits survey 2018 the survey polled 2408 respondents in the age group of 3060 years across 12 cities figures do not add up to 100 due to multiple responses