Study On The Influence Of Population Aging On The Purchase Of Commercial Insurance For Urban And Rural Households

The aging of the population has become a major global issue,and as the most populous country in the world,our situation is more complicated and the challenges are even greater.As early as 2000,China entered an ageing society.According to the statistics of the National Bureau of Statistics,by the end of 2018,China's population over 65 years old was about 166 million,accounting for 11.94% of the total population.It has become the country with the most elderly population and the fastest aging in the world.As the problem of population aging has intensified,how to protect families from the aging of the population is the top priority of our national health problem.In March 2019,the second meeting of the 13 th National People's Congress was held in the Great Hall of the People.When Premier Li Keqiang made a government report,he specifically mentioned the issue of old-age care.This shows that the Chinese government has attached great importance to the issue of population aging..At this stage,China has three pillars to support the endowment insurance,that is,the government-led social basic pension insurance,enterprise annuity or occupational annuity,and commercial pension insurance.Due to the limited first and second pillars,the third pillar is urgently needed.This paper firstly analyzes the characteristics and current situation of China's population aging and China's family purchase of commercial insurance,and then empirically studies the impact of population aging on China's family purchase of commercial insurance and its possible reasons.This paper builds the Probit model and the Tobit model using the 2016 China Family Panel Studies(CFPS)data,and uses three indicators to measure the aging of China's population in the construction of the econometric model to more fully explore the aging of the population.The extent of the impact on the purchase of commercial insurance by Chinese families.At the same time,in view of China's unique urban-rural dual structure characteristics,this paper studies the impact of China's population aging on the purchase of commercial insurance for urban families and rural families in the empirical part.This paper draws the following main conclusions:(1)By selecting three indicators as a measure of population ageing,that is,whether the family has a population aged 65 and over,the number of people aged 65 and over,and the proportion of the population aged 65 and over in the total family population The population aging indicators will reduce the willingness of Chinese urban and rural households to purchase commercial insurance,and there are differences between urban and rural households.At the same time,the reduction of purchase quotas is more stable.Specifically,the impact of population aging on household purchases of commercial insurance is also reflected in participation decision-making and scale decision-making,which reduces the possibility of households purchasing commercial insurance,and also encourages families to reduce the amount of commercial insurance purchases and households to purchase commercial insurance.The proportion of expenditure.(2)Family income and family size have a significant positive impact on family purchase of commercial insurance.The higher the income level and the larger the population,the more willing to purchase commercial insurance,and willing to increase the scale of expenditure.At the same time,it is found that the above variables are basically stable for urban and rural households to purchase commercial insurance.(3)The influence of the marital status and education level of the head of household on the purchase of commercial insurance for the national households and urban and rural households is significantly positive.On the basis of theoretical analysis and empirical analysis,this paper puts forward corresponding suggestions from the perspective of government,family,and insurance companies.It hopes to fill the shortcomings of the third pillar of endowment insurance as soon as possible,improve the old-age security system,and improve business.The insurance system guarantees the life of our people in their later years and the economic burden of the family is reduced.