Participants Of House-for-pension Scheme And Study On Its Risks

House-for-pension scheme is a new type of method for caring for old people proposed to deal with the aging crisis of aging before getting rich after our country enters aging society. Under the background of insufficient social pension funds and weakening of the family function of caring for old people, it is meaningful to advocate that individuals should actively develop self-support, to encourage the old to participate in house-for-pension business and expand sources of individual pension funds. Reverse mortgage endowment insurance, as an important mode of implementing the house-for-pension idea, is still at the pilot stage currently. Further study on the insurance products is expected in the aspects such as specific operation mode and risk management.On the basis of referring to relevant research results of housing reverse mortgage,the thesis conducts the study mainly in the aspects of participants of Reverse mortgage endowment insurance, pricing of different operation modes, risk management, etc. The main body of the thesis puts forward at first the basic operational framework and process of the Reverse mortgage endowment insurance and analyses the participating entities on both demand and supply sides. It proposes the pricing formula for both the term mode and the life mode. Secondly, using quantitative analysis, sensitivity analysis and other methods,it concentrates on studying the risk of change of the house price, interest rate risk and longevity risk in the business operation, and conducts identification, analysis of causes and quantitative analysis of various risks faced by two parties of the insurance contract under the two operation modes. Finally, it puts forward to the point the suggestions for the business development and the precaution and prevention strategy against the risks, and provides new ideas for pilot operation and promotion of the business.The thesis systematically describes for the first time the operational mechanism for the Reverse mortgage endowment insurance and proposes creatively the mode of reverse mortgage term pension insurance which combines the time limit of the mortgagefor fixed housing property with the payment of the life annuity. It also conducts a comparative study of the two different operation modes from the perspectives of business pricing and risk management. The thesis finally comes up with business set-up suggestions like the principle of making business operation clear and various set-up modes parallelism.Moreover, risk prevention measures like premium limit and differentiating contract interest rate are adopted to deal with major risks of house-for-pension scheme.