Life Insurance Investment Based On Household Structure

In various areas of socio-economic and daily life,risks happen everywhere and at all times: Death of young member is unfavorable to the family,people who cannot afford the medical cost may lose the opportunities of surgery,unemployment may leave people in a worse position,insufficient pensions makes the elder live in poverty,some people die of disasters and unexpected casualties.With the rapid development of China's economy,people transfer risks to insurer by life insurance is becoming more and more popular.Life insurance is the subject of the population,therefore,the population itself and its structure plays a vital role.According to summary of the foreign life insurance business practice,demand for insurance is positively correlated with minors increased.However,nearly three decades of family planning policy,the amount of newborns declines sharply such that China's population structure has a significant difference contrast to the mainstream western society: from the "one-child-policy" to "1.5-child-policy",then "two kids when either parent is only child",and finally adjusted to "two-child-policy".These policy changes make the age structure of the population has a significant feature.The thesis is based on the actual situation in China,focused on the data of a given life insurance company's underwriting between 2003 and 2015,by carrying out research on the insurance status of the configuration of the sample data with the analysis of big data,especially for the close relationship between life insurance arrangement and family members age structure and their minors.Then,it summarizes the life insurance investment propensity of families,provides the insured a reasonable forecast under the demographic composition,and prompts China family to own their insurance demand,which plays a key role in risk transfer,compensation for loss of value and so on.Meanwhile,it promotes the life insurance enterprises to improve their products closer to demand,and develop a more marketing targeted strategy to increase competitiveness.