Research On Demand Of Life Insurance In Gansu Province Under The Background Of The Population Aging

Population aging is an inevitable process of demographic transition,which appears with the economic and social development. The changingof demographic structure affects all aspects of social life, and thePopulation aging has gradually become an important issues of concern.The population aging in Gansu province is more and more serious, theaging speed is accelerated obviously. For the life insurance market inGansu Province, the problem of aging population increases is not onlyan opportunity but also faces some challenges. Based on the study,lifeinsurance companies in Gansu Province can make a more in-depthunderstanding of the aging of the population, and have a clearunderstanding of the way, process and extent of the Population aginghaving effects on life insurance demand, so as to make a reasonable planto face the changing market demand.This paper begins with the analysis of population aging status andlife insurance demand status in Gansu province, and then analyses themechanism of the influence of population aging on the total lifeinsurance. Through the analysis we found: Now, the low security ofsocial insurance in Gansu province can not meet the people’s life desire,this provides the opportunity for the commercial life insurance; the rapiddevelopment of aging of the population in Gansu Province will have animpact on economic development, and will ultimately has a negative impact on the increase of life insurance demand; aging also helps peoplechange risk awareness, leading to potential life insurance demand.Finally, this paper constructs a model to analyse the life insurancedemand in Gansu Province under the background of the populationaging. And then we draw the following conclusions: there is a long-runcointegration relationship among non-stationary data; per capita lifeinsurance demand can be influenced strongly by it’s early payment,thedegree of the population aging intensifies and increasing per capitaincome levels are able to increase the demand of life insurance in GansuProvince, and the one-year deposit benchmark interest rate level and theaverage number of family population increase of Gansu province haveinhibitory effect on per capita life insurance demand;through thevariables’s contribution to the variance,we can see that, Gansu percapita life insurance demand can be influenced strongly by its ownfactors, and the per capita GDP of Gansu Province, the elderlydependency ratio and the benchmark one-year interest rate are all haveimportant influence on the demand of life insurance in Gansu province,while the average family size change impacts on life insurance demandis relatively small, and the contribution degree is relatively stable.