The Influence Of Fertility Decision On Female's Commercial Life Insurance

China's demographic structure has undergone a major transformation since the implementation of family planning in the 1970s and the fertility rate has gradually decreased and remained at a low level for a long time.According to the fifth national census data,China officially entered an aging society in 2000 and the degree of aging has risen sharply.This has caused social problems such as insufficient labor force,disappearance of demographic dividends,and shortage of old-age resources.In this context,family fertility decisions have become a hot topic.In order to alleviate a series of problems caused by low fertility rate,the Chinese government launched the"two-child policy" in 2016,trying to regulate the fertility rate through this policy.How will the fertility decision of the residents change after the two children are released?And how will it affect the purchase of commercial insurance assets by families and individuals?This paper chooses commercial life insurance as the research object,and analyzes how female family members will change the purchase of commercial life insurance under different birth decisions.Most scholars have studied how the number of children affects the allocation of family financial assets from the macro level.In addition to summarizing the results of previous studies,this paper uses empirical analysis methods from the micro level to use the China Household Financial Survey data at 2013 to select relevant variables to verify the impact of fertility decisions on women's purchase of commercial life insurance,and simulates the "two-child policy".The possible impacts are explained by three transmission mechanisms.The empirical results show that increasing the fertility rate will have a significant negative impact on women's purchase of commercial life insurance,and the government and related enterprises should prepare strategies in advance.