Study On The Demand Influencing Factors Of Long-Term Care Insurance Based On Structural Equation Modeling

Recent years,due to the aggravating trend of aging and the higher incidence rate of chronic diseases,the number of the disabled elderly is increasing.At present,most of the disabled elderly are nursed by family,which brings much mental and financial pressure.However,the change of family structure makes it more difficult for family members to care for disabled elderly.Also,due to the limitation of quantityand cost,professional care agencies can not effectively solve the general family’s dilemma.As a result,long-term care insurance emerged to solve this problem,which reduces the financial pressure for the disabled elderly and relieved the family burden.This kind of insurance is mature in developed countries,but it is still in its initial stage in China.Therefore,it is significant to study the influencing factors of long-term care insurance.In this paper,some residents in Xiamen are interviewed by questionnaires.Structural equation modeling is applied to analyze the influencing factors by using SPSS22.0 and AMOS23.0 data processing software.First of all,after reading literature,we select health factors,economic factors,subjective factors,insurance product factors and individual characteristics as the research direction;then,we use stratified sampling method to obtain 526 valid questionnaires in Xiamen area;next,we analyse the questionnaire’s reliability and validity to prove validity,then use 6 latent variables to construct the structural equation model to find that the influence of health factors,economic factors and insurance products factors is partially significant,.Finally,the individual characteristic factors are used as control variables.The independent sample T test and variance test are used to analyze the difference.It is found that education,occupation,marital status and other factors have significant influence on demand.Based on the conclusion of research,we put forward relevant policy recommendations for long-term care insurance system,so as to promote residents’ willingness to participate in the insurance and meet the real needs of residents,so as to achieve long-term sustainable development of the system and the real sense of policy benefit.