Study On Influence Factors In Urban Residents Commercial Endowment Insurance Demands In Lanzhou

Commercial endowment insurance is a long-term life insurance with the main purpose of acquiring the pension. It is called retirement pension insurance and it is a special form of annuity insurance. Commercial endowment insurance has features of high-specialization and flexibility. It can meet people’s different requirements, which is a supplement of the basic state pension. As the capital of Gansu Province, Lanzhou has a relatively high population density. This city needs to support excessive aged population considering its population ageing that is higher than the nationwide average level. At the same time, the endowment system is imperfect and the basic state pension can’t suffice for the people’s needs, which aggravates the issues of providing for aged people by individuals, families and society. So at this point, the demand of commercial endowment insurance should have been obvious. But the truth is opposite, because commercial endowment insurance hasn’t exerted its deserved effects. In this respect, this research selects parts of urban residents in Lanzhou to do social research. Gathering the first hand information, this research does descriptive statistics analysis and empirical tests for all the factors of the demand of commercial endowment insurance of Lanzhou, which is to know the degree of every factor’s effect and make suggestions for stimulating the demand of commercial endowment insurance.The content of this research consists of six parts. The first part introduces the study background, study significance, study thoughts and study methods and also summarizes the related research findings domestic and abroad. The second part outlines the related theories. The third part does the analysis for current state of commercial endowment insurance of Lanzhou from insurance institutions, the supply of insurance categories, insurance premiums, and payments of insurance. The forth part does qualitative analysis for all the factors of the demand of commercial endowment insurance of Lanzhou according to the analysis of the questionnaires. The fifth part does empirical tests for all the factors of the demand of commercial endowment insurance of Lanzhou using Logitp model regression. The result shows, the positive variables of demand of commercial endowment insurance of Lanzhou, according to their individual influence, from big to small, are the knowing degree of commercial endowment insurance, the influence of the relatives’and friends’buying, the satisfying degree of insurance company’s service, the content level of current insurance’s qualities, the number of offspring, and the family’s per capita annual income; the negative variables are the level of current insurance premiums, if the insurance company participates the supplemented endowment plan, health state, the level of basic state pension meets the demand of providing aged people. On the whole, the supply factor plays the most important role in the demand of commercial endowment insurance of Lanzhou, the next does the family factors and society factors. On the other hand, personal factors, unit factors and recognition factors have small influences. The sixth part summarizes the conclusions based on the fifth part and proposes pointed counterpolices and suggestions.