Working Women Show Improved Retirement Preparedness but Remain Concerned About Loneliness: Axis Max Life India Retirement Index 5.0

Working Women Retirement Preparedness: India Retirement Index

Ahead of International Women’s Day, Axis Max Life Insurance Ltd. (“Axis Max Life”), formerly Max Life Insurance Company Ltd., released new insights on working women cohort from the fifth edition of its flagship India Retirement Index Study (IRIS 5.0). The study evaluates urban India’s retirement preparedness across three key indices, Financial, Health and Emotional Preparedness, measured on a scale of 0 to 100.

The Retirement Index score for women stands at 49 (out of 100) in 2025, close to the national score of 48. Notably, the index has risen from 44 in 2022 to 49 in 2025, marking a five-point increase, which is slightly above than the overall national growth over the same period from 44 in 2022 to 48 in 2025.

Sumit Madan, CEO and Managing Director, Axis Max Life Insurance, said, “The ‘Health-Wealth’ focus is no longer theoretical; it’s becoming the new standard for retirement preparedness. While women are leading the charge in overall readiness, we recognize that their health preparedness is also growing year-on-year. As life insurers we have also made it our priority to refine our retirement solutions by embedding proactive health and lifestyle features that help our policyholders maintain their vitality throughout their silver years.”

Key Findings of the Women Cohort

• Health Preparedness: The study, conducted in partnership with Kantar, women’s Health Preparedness Index rose from 40 (2022) to 47 (2025), marginally outperforming the national growth rate (41 (2022) to 46 (2025).
• The Emotive Index: Despite health-wise uptick, psychological preparedness is unsteady. The Emotional Preparedness Index for women dropped from 60 to 58 over the same period. This dip was slightly sharper than their male counterpart which remained stable at 59.
• The Loneliness Factor: The fear of loneliness has increased among women—from 69% to 74%— at a time when the all-India level has remained unchanged, indicating a growing emotional sensitivity within this cohort.

In line with gains in the Health Index, the share of women undergoing regular or occasional health check-ups has risen from 57 percent in 2022 to 60 percent in 2025, ahead of the national average of 55 percent. Nearly 43 percent of women report engaging in daily physical workouts, in line with all India average.

Confidence about future well-being has also strengthened. The proportion of women who believe they will remain fit and healthy during their retirement years has increased marginally from 79 percent in 2022 to 82 percent in 2025, moving ahead of the broader national sentiment, which has largely plateaued.

That said, formal risk protection continues to evolve. Health insurance adoption among women has grown from 42 percent in 2022 to 48 percent in 2025, though the pace trails the national growth rate from 43 percent to 50 percent.

Emotional Preparedness Reflects Emerging Sensitivities

Despite the uptick in health index, emotional anxieties continue to influence retirement perceptions among women.

Concerns around financial and environmental security remain largely stable among women. Around 73 percent worry about financial dependence on children, and 79 percent remain concerned about the impact of changing environmental conditions on their retirement years, suggesting persistent but not escalating anxieties.

The proportion of women who feel totally secure about receiving familial support in retirement has increased directionally from 49 percent in 2022 to 53 percent in 2025, in line with the national growth rate from 51 percent to 55 percent.

Read more about the India Retirement Index Study: www.axismaxlife.com/iris-india-retirement-study-index

About India Retirement Index Study 

India Retirement Index Study is an annual retirement study by Axis Max Life conducted in partnership with KANTAR. The study evaluates India’s readiness for a healthy, peaceful, and financially secure retirement across three indices Financial, Health, and Emotional Preparedness each measured on a scale of 0 to 100. The fifth edition surveyed 2,242 respondents across 28 cities, including new segments such as gig workers.

About Axis Max Life Insurance Limited (https://www.axismaxlife.com)

Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited. Axis Max Life offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.

IRDAI Registration. No – 104
Company Information Number – U74899PB2000PLC045626

About Kantar 

Kantar is the world’s leading marketing data and analytics business and an indispensable brand partner to the world’s top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future. To know more, visit www.kantar.com

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