| Life insurance as an important part of the insurance works in People’s Daily life and plays an important role of risk, financial and social management. It also occupies an extremely important position in a country’s economic security system.Henan province is located in the central plains, and has a vast area and large population. It is an important agricultural, industrial and populous province in China. The rapid economic development provides the condition for the vigorous development of the local life insurance. In recent10years, earth-shaking changes have taken place in the life insurance market in Henan province. The number of life insurance company has increased rapidly, from4in2001to34in2012. They diversify life insurance market. Life insurance business grows quickly, the premium income which is from nearly5billion yuan in2001to59.5billion yuan in2012. It ranks in the top of the whole nation. Especially in2006, the life insurance market adjusted, has realized rapid development momentum, and the speed of development is faster than non-life insurance. Life insurance market of Henan in decade has completely changed the original appearance. However, under the good development momentum, in the past two years, it has a negative growth of the premium income, falling demand, and surrender, So finding out the influent factors of life insurance demand in Henan province, analyzing the causes of low demand and exploring the healthy way to develop life insurance market become positive and significant in theory and practice for the development of life insurance market in our province and even the whole country.First of all, the current domestic and international literature review, affecting factors of life insurance demand and the demand for life insurance related concepts, and briefly described the main content of this paper.Second, combined with the changes of life insurance market supply and demand in nearly10years, it will introduce the history and current situation of life insurance market in Henan province, and analyses the life insurance demand in our province from two aspects of total demand and demand structure by comparing with other domestic provinces. The research found that:the premium income of life insurance market in our province ranked in the top of the nation and the highest in six central provinces, but the insurance density and depth was lower than the national average, and less than Shanxi province. The market volatility was large and the internal development was imbalanced.Again, by doing the changes of life insurance market supply and demand analysis, we found because of the deterioration of external economic and financial environment and bad capital market conditions, it caused a decline of the life insurance demand in nearly two years. At the same time, the lack of competitiveness of their products, a single marketing channel and insurance companies primary relying on Banks may also add to the problems of life insurance market demand downturn appeared in the current years.Finally, In order to enlarge life insurance demand, we should put forward relevant suggestions, such as strengthening the propaganda for improving public consciousness of life insurance demand, perfecting the life insurance market system and improve product competitiveness, accelerating reform of the sales and marketing mode innovation system, optimizing asset management mode in life insurance company, strengthening supervision, standardizing the market competition order, etc. |
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