Study On The Influencing Factors Of The Demand Of Long-term Care Insurance For The Elderly In China

Aging is an inevitable stage in the development of population structure, and it is the outcome of economic and social development to a certain stage. At present, China’s aging problem is very serious, showing a large number of elderly population, rapid development, aging in advance of economic development and so on. It’s typical of age before getting rich and not ready to get old. With the aging of population and the extension of population life, the risk of illness of the elderly increased. The high cost of medical care made the majority of families faced with a heavy economic burden. With the miniaturization of family structure, the burden of children’s pension becomes more and more aggravated. Aging brings great challenge to the family and society. In order to provide the elderly with a dignified life and reduce the pension burden of the family and society, developed countries put forward the long-term care insurance system and the implementation of long-term care insurance system to developed countries has brought very good results. Therefore, to deal with the challenge of aging in our country, we need to incorporate aging cause into the strategic planning of national social and economic development. Long term care insurance is an important tool to solve the problem of aging. Therefore, we need to study the factors that affect the demand of long-term care insurance, and puts forward some policies and measures to promote the long-term care insurance with a healthy, rapid and sustainable development in our country.The development of long term care insurance in our country is at the beginning stage. Although the government has not yet established the long-term care insurance system, there are several insurance companies launched commercial long-term care insurance. But because of the higher premium and harsh insurance conditions, the realistic demand of long-term care insurance is not high. However, serious aging has made the long-term care insurance of our country faced with the huge potential demand. How to transform the huge potential demand into real demand will require the joint efforts of the government and the insurance companies.This paper is divided into six parts, the first part is the introduction, this part puts forward the research background, research significance, research situation at home and abroad as well as the innovation and the deficiency. The second part discusses the meaning and characteristics of long-term care insurance, and then summarized the domestic development status of long term care insurance. The third part briefly introduces the development of long term care insurance in Germany, Japan and the United States;The fourth part first give a scientific analysis, then put forward the main factors that influence the demand of long-term care insurance. And these factors are divided into three aspects:economic, social and demographic. The fifth part is the empirical analysis of the factors affecting the long-term care insurance demand, the writer select the macro observable factors and established a logarithmic model, using 2010-2014 panel data of 28 provinces, and then analyse of the model results. The sixth part proposed the policy recommendations for the development of long-term care insurance in China to the point of view of the government and insurance companies on the basis of empirical analysis and using the experience of developed countries.