| Modern life insurance is directly related to the value of human life. Therefore, it is different from other industries, and can better reflect human interest protection and indemnity, as well as more complex human to human interest relationships. Exploring issues on life insurance theory from the interest angle can not only pinpoint the core of life insurance theory, but also add to the scope on interest theory research. Meanwhile, this study has certain practical implications on the growth of China's life insurance business.This thesis combines the qualitative and quantitative approaches. Through theory to practice, essence to phenomenon, and general to specific, and through the application of mathematic analytical tools, it exploits the fundamental meaning of life insurance interest, life insurance interest function, the gaming process of various life insurance interest subjects, China's current life insurance interest relationships, life insurance interest relationship innovations, and the theory on China's life insurance interest relationship movement, readjustment and practical problems, against the global background. In this thesis, a fairly complete analytical framework is formulated of China's life insurance interest.This thesis comprises of three parts.Part One constructs and prepares the theoretical premise of the whole thesis, and analyses the life insurance interest theory, life insurance interest practical implications, and life insurance interest subjects: 1) Life insurance interst means the total interest from the society general supply and demond which in the field of life insurance activities. It includes life insurance, healthy insurance and pension. The study of life insurance interest has theoretical and practical significance. Life insurance is in itself an interest movement, and originates from the insurance of interests, a process of the pursuit of life insurance interest by relevant parties, resulting in the indemnification, transfer and acquisition of a sort of interest. Therefore, the basic content of life insurance is about the human interest, and the basic relationship in life insurance is one of interest. Life insurance interest theories are studies on the essence of life insurance, the basic meaning being about interests, and basic relationship about interest relationship. Life insurance interest theories are both the core of life insurance theories and the expansion on interest theories. The study of life insurance interest has practical implications in that life insurance is not only an important growth factor for the economy, guarantee for the system and condition for sustained economic development, it is also central to the construction of a harmonious society. 2) The life insurance interest theory derives from relevant research on life insurance interest from domestic and international theoretical realms, whereby the life insurance theory of life insurance interest traces its roots from the economic value of human life, and it includes the economic analysis of human life value and life theory analysis and evaluation. The interest theory of life insurance interest comes from Marxist interest theory, Western interest theory and modern socialistic interst theory. In addition, indirect exploration by current Western theorists and Chinese scholars on those issues from legal, actuarial, regulatory and marketing standpoints also sheds light on this thesis. 3) This thesis looks at life insurance interest from a narrow and a broad sense. Life insurance interest in a narrow sense mainly refers to the interest generated by associated parties directly to the life insurance contact. Broad life insurance interest generally refers to life insurance interest indemnity and acquisition that is relevant to life insurance activities, and is a combination of interests in insurance, indemnity and investment, which includes risk aversion, loss indemnity, interest acquisition, and wealth re-distribution. The focus of this thesis is on broad life insurance interest. 4) This thesis adopts the life actuarial model as the micro life insurance interest measurement tool, and the cost-benefit model as the macro life insurance interest measurement method.Part Two is the main body of theoretic research in the thesis. Life insurance interest function model is constructed and analysis is made of the life insurance interest subject gaming process, elements' interst stream, in addition to the initial discussion of life insurance interest measurement. 1) There are four interest subjects in the life insurance interest relationship, that is, life insurance interest of supplier, demander, intermediary, and regulator, who are the four main pillar factors of life insurance interest. 2) The life insurance interest function model includes life insurance interest general function, and the life insurance interest functions of needs, supply, intermediary and regulation. Life insurance interest general function is affected concurrently by all four factors: life insurance interest demand function affected by insurance premiums rates, GDP and disposal incomes, supplements and replacements, insurance awareness, social security system, urban-rural economic gap, legal system, education, support ratio, interest policies, tax policies, etc.; life insurance supply function by insurance premiums rates, solvency levels, insurance distribution channels, insurance technology and product innovation, market entry and government supervision; life insurance interest intermediary function by the size and structure of the intermediary, market penetration, education, service quality and the strength of regulation; life insurance interest regulation function by internal control set-up, regulatory staff quality, market conditions, education and regulatory standards. 3) An analysis is made of the fundamental relationship in life insurance interest, including internal interest relationships in life insurance firms, interest relationships between life insurers, interest relationships between life insurance firms and the insureds, interest relationships between life insurance subjects and objects and agents, interest relationships between life insurance subjects and objects and the regulator, and the relationship between domestic life insurance interest and global life insurance interest, etc.Part Three is the practical analysis. Based on the preceding theoretical framework and conclusion, an analysis is conducted of China's life insurance history, current life insurance conditions, and major factors impacting China's life insurance development. Certain suggestions are made on system innovations and the readjustment in China's life insurance interest relationships. A forecast is also prepared of the changes and realignments in China's life insurance interest relationships, in the post-WTO global environment.
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