| Life insurance industry is a specific tertiary industry, the quality of its product stands for the whole level of the industry, and it is the lifeline of the industry. The development of the life insurance product is the foundation to face the intense competition.Since 1982, the life insurance industry in our country has got a formal resumption. It provided several kinds of product to meet the needs of different security levels and personal finance plan. At the early time of the resumption, insurance company sold life insurance product and non-life insurance product together. The structure and the kind of the product were simple at that time. In 1992, the personal agent marketing system was introduced into China. Insurance companies developed some kinds of product which suited for this marketing method. The traditional individual life insurance product became the most popular product. After 1995, life insurance and non-life insurance became separated with each other. Due to this, life insurance got a rapid development and individual life insurance business gradually became the mainstream of the insurance industry. In 1999, the direct impact of LichaSun resulted to a dramatic decline of the life insurance industry. The whole life insurance industry developed and sold the new-type life insurance product blindly in order to pursuit the size of the premium income and occupy the share of the market. The traditional life insurance product and the new-type life insurance product became two categories of the product, and the latter kind had the trend to transcend the former kind. Since 2001, the structure of the new-type life insurance product has changed a lot, variable life insurance experienced a hot and low phase. In 2007, variable life insurance became hot again with the rise of the stock market. However, the structure of the product changed when the global financial tsunami happened. Under the external monitor stress and the company's capability of common oppression, life insurance product's function began to return to their core function-protection. During the development of our life insurance product, we could see the influence factors became diversity. Such as the management system of the company, underwriting capacity, our country's policy, income, interest rates, inflation levels, population structure, financial development level, etc. In order to meet the diverse needs, the development of the product, the innovation of the insurance sales and after-sale service also had a great impact on the need of the life insurance product. All these factors had multiple affection on the development of the life insurance product. Products must be determined by supply and demand, so this paper is from the perspective of the supply and demand of the life insurance product, use historical analysis, qualitative analysis and quantitative analysis method, analysis the development of our country's life insurance product in different phase; analysis the influence factor of each phase and thus on this basis, to find the existing problems; finally try to put forward recommendations to make life insurance product have a sustainable and health development.This article is divided into there chapters, the main framework is as follows:Chapter 1 is "An overview of life insurance and life insurance products". The main content includes the definition and function of life insurance product; the features and categories according to whether it has investment function; a general analysis of the influence factor of the life insurance product supply and demand.Chapter 2 is "China's life insurance product development process and the problems". First it gives a clear development process, then analysis the main influence factors mentioned in chapter 1 in each phase. The analysis also is from the perspective of supply and demand. From this development process, we can conclude some existing problems.Chapter 3 is "The recommendations of the development of China's life insurance product". Based on the issues raised in the previous chapter, from the perspective of give a reasonable role in the personal financing plan, develop different kinds of product in a more coordinated way, improve the quality of service and so on to make recommendations on the further development of life insurance product... |
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