| According to the UN definition of population aging,China entered the ageing population as early as 2001,and the population aging is becoming more and more serious Along with the aging of China's population is the growth of life expectancy,the rise of dependency ratio and the lack of first-come and unprepared According to the forecast of the Institute of Population and Labor Economics of the Chinese Academy of Social Sciences,by 2050,China's old age The proportion of the population will reach more than 30%,and the old-age dependency ratio will reach 43.1% With the “baby boom” generation entering the ageing group,China's social basic pension system faces very large financial pressure,the system support rate declines,and the pension The replacement rate is reduced,and the form of pension in China is severe.Under the trend of accelerating population aging,relying solely on the basic social pension insurance system can not meet the old-age needs of the elderly population,which brings a good development opportunity for China's life insurance industry On the one hand,along with the increase in consumer income,the increased awareness of insurance,and concerns about the quality of life in the elderly in the future,many young and middle-aged people began to increase the effective demand for life insurance to plan for the elderly From this perspective,the aging of the population on life insurance Demand has a positive effect;on the other hand,with the increase of the elderly population,the proportion of life insurance companies refusing to protect the population increases In addition,the increase in parenting pressure may also affect the ability of consumers to pay premiums From this perspective,the population is aging To a certain extent,it has a restraining effect on life insurance demand Therefore,it is necessary to empirically analyze the impact of population aging on life insurance demand in the presence of both positive and negative impacts.The empirical part of this paper uses the inter-provincial panel data of China's 30 provinces(excluding Tibet,excluding Hong Kong,Macao and Taiwan)from 2005 to 2017,and analyzes the impact of the core indicators' old-age dependency ratio and other control variables on life insurance demand through a fixed-effects model The empirical analysis is mainly divided into two parts: the first part is the impact of population aging on the total demand and demand structure of life insurance in the country;the second part is to divide 30 provinces into high aging level and low aging level according to core indicators After that,the impact of population aging on the total demand and demand structure of life insurance in the two regions will be further analyzed The empirical results show that the old-age dependency ratio has a significant role in promoting life insurance demand,and in the more severely aging areas,the life-care needs increase by more than 1% for the old-age dependency ratio After the breakdown of the insurance structure,the empirical results show that the elderly The trend has a significant role in promoting traditional life insurance and has a certain inhibitory effect on investment life insurance In addition,children's dependency ratio,education level,urbanization rate and disposable income of the elderly have a significant positive impact on life insurance demand The social security level has a certain weakening effect on traditional life insurance demand Inflation rate on investment life insurance There is a certain promotion.Finally,based on theoretical analysis and empirical analysis,this paper proposes corresponding policy recommendations for consumers,insurance companies and the government. |
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