The Study On The Impact Of Aging Society On Life Insurance Demand

Aging society is a phenomenon of demographic changes accompanied by social economic development and medical progress.The degree of aging in our society has been deepening since 1999,As China's social security system is not yet sound,the sustainability of our social pension insurance system is seriously challenged by the deepening of aging.so,how to make full use of commercial life insurance to support the function of social pension has long being a hot social concern.This paper focuses on the relationship between the aging society and life insurance demand,and analyzes the impact of aging index on the structure and volume of life insurance demand through empirical research.Firstly,the paper introduces the background of the research,reviews the related literature at home and abroad,and introduces the research frame of this paper.Secondly,we introduce the situation of aging population in our country,theory and the current situation of life insurance demand.Then,we introduce two classic theories of life insurance demand,and analyze the microcosmic mechanism of life insurance demand under the background of aging society.And then,we focuses on the relationship between the aging society and life insurance demand,and analyzes the impact of aging index on the structure and volume of life insurance demand through empirical research,and we compare it with the international regression result.Finally,in order to enhance the effects of life insurance on the aging population,we give some relevant suggestions.We find that both protection and investment type of life insurance demand will significantly improve with the depending of aging,people tend to increase the consumption of life insurance products in order to hedge longevity risk.The degree of social security and education standard will also promote the life insurance demand.While young dependency ratio?inflation rate?real interest rate negatively correlated with life insurance demand.According to the results,we hold that to meet the challenge of aging,life insurance company should improve the insurance products to meet the needs of different group of people,investment life insurance products should return to the function of protection to meet the needs of pension security of the aging population.at the same time,the government and life insurance company should increase the propaganda of life insurance,make the concept of life insurance pension deeply.