sacrifice a high return in exchange for this security.

"The fact that only around 10 per cent of Indians are covered by any form of pension scheme helps us understand the low financial risk tolerance of Indian respondents," Swiss Re Head of Economic Research and Consulting (Asia) Clarence Wong said.

Although consumers in India are aware of the need to plan early for their financial futures, they are the most unwilling group among all markets surveyed to use professional financial planner or investment adviser.

"Much effort is needed to raise public awareness of the importance of financial planning early on in life, and how qualified financial professionals might add value to this lifelong process," Wong Added.

The survey covered two key business risk aspects: growth and operations, as well as four key consumer risk aspects: finance, career, health and lifestyle and was conducted in the first quarter of 2009, covering eight markets, namely Australia, China, Hong Kong, India, Japan, Malaysia, Singapore and South Korea.