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

According to the provision of the United Nations released,when a country has a population of more than 10%of the population aged 60 and above,or the proportion of national population over the age of 65 more than 7%,then the country enters into the population aging society.Meanwhile,an aging population for the whole world is a very noteworthy subject,in recent years,the present situation is not optimistic for the world.In terms of China,an aging population is inevitable.And,it is taking highly eyesight from all over the world.China's each area or province all has its own aging population for different population structures and economy.Shandong province of China in 1995,65 years old and older population was 7.4%,the proportion of people aged 65 and over has been rising since 1995.By 2015,the proportion of people over 65 years old was 12.2%.For Shandong province in 1995,it has begun to enter into an aging society.In this context,this article studies the influence of population aging in Shandong province the demand for life insurance,it not only will help solve the problem of the aging of the population of Shandong province,but also provide some opportunities for the development of commercial insurance in Shandong province.Firstly this paper describes the story of the selected topic background and research significance,and summarizes the contents of domestic and foreign research.Secondly,this paper introduces the basic concepts and relates theories of population aging and life assurance,and summarizes the status quo of population aging and life assurance in Shandong province.Then,it will describe the core content of this paper,the empirical part,it mainly analyzes the VAR model of the population aging in Shandong province,and concludes the empirical conclusion.The empirical results found that the elderly population bring-up ratio,average household size of population,the per capita GDP in Shandong province,the benchmark one-year deposit rate is the Granger test,life insurance density shows that these variables can cause HPAPI changes.At the same time,it also found that the average household size of population,the per capita GDP in Shandong province,the benchmark one-year deposit rate and the life insurance density are Granger cause,and it shows that the average household size of population,the per capita GDP in Shandong province,the benchmark one-year deposit rate and life insurance density is able to influence each other.For each variable Cointegration test and impulse response analysis,the results found life insurance demand of Shandong province with an aging population,the per capita GDP in Shandong province of Shandong province and Shandong family size was positively related to relationship,negatively related with the benchmark one-year deposit rate.At the same time,it is found that when the elderly population is brought up by 1%,the life density of Shandong province is about 4.06%.Every time the per capita GDP of Shandong changes 1%,it will cause a positive change of about 1.7%.The change of the average household population in Shandong province will result in a change in the demand for life insurance in Shandong province of 7.889409%.When the one-year deposit rate changes 1%,the demand for life insurance in Shandong province will change 2.048337 percent.The aging of the population increasing can cause the increase of the life insurance demand,but the increase of the life insurance demand and will cause the aging of the population increase,the result shows the old population ages and the influence of the life insurance demand is one-way.