Research On The Development Of Commercial Long-term Care Insurance In China

Commercial Long-Term Care Insurance(CLTCI),as an important branch of health insurance,refers to the insured person purchasing insurance when he is in good health.During the insurance period,his body functions due to old age,disease or accident Damaged,life needs other people's care,part or all of the cost of care will be compensated by the insurance company.With the change of society and the improvement of medical standards,people's life expectancy continues to increase,and the aging and aging of the population will deepen.The number of elderly people with disabilities will increase day by day.International experience shows that the aging trend will bring a series of social and economic problems..In addition,changes in the socio-economic environment such as shrinking family size,rising female employment rates,and rising medical expenses have also quietly changed the functioning of the family 's old-age care in the traditional sense,and the demand for old-age care cannot be adequate within the family.Satisfaction,if relying solely on the government's financial power to share the risks of elder care,it will definitely cause huge financial pressure on the government and weaken the national financial function and macro-control capabilities.Therefore,commercial long-term care insurance needs to be used as supplementary insurance to meet people's diversification.The need for disability care makes up for the lack of social long-term care insurance(SLTCI),passes on the risk of disability care for the elderly,provides old-age care insurance protection for the elderly,and reduces the burden of social and family pension care.In the future,China will face a serious problem of aging population and aging.The middle-aged couples in the family should not only take care of their children,support the elderly,but also go out to work to support their families.At present,there are many kinds of long-term care insurance on the market in China,but most of the products are in the form of combination,for example,serious illness insurance or endowment insurance with the elderly care insurance fund,which are mainly sold as investment and financial products.There are few real pure long-term care insurance products,and the combined form of insurance premium is relatively high,and its payment mechanism is single,which is difficult to meet the needs of the elderly groups for such insurance.In addition,there are some difficulties in the development and pricing of this kind of insurance.Therefore,this paper mainly studies the development of commercial long-term care insurance and the calculation of the rate.First of all,based on the economic and social background of the development of China's long-term care insurance,this paper analyzes the necessity of developing such insurance in China from the aspects of the acceleration of the aging process,the increase of disabled elderly,the change of traditional family pension care mode and the increase of medical expenses,etc.;secondly,it analyzes the types,payment methods,insurance period,insurance liability and payment of China's commercial long-term care insurance This paper sums up the current situation of the development of this kind of insurance in China from five aspects of payment form,and then analyzes the problems existing in the development of this kind of insurance in China according to the current situation.In the long run,consumers are influenced by the traditional concept of intergenerational reciprocity and the low popularity of insurance companies,and consumers have low awareness of this kind of insurance.In addition,the commercial long-term care insurance currently sold in China There are a series of problems in the products,such as high premium rate,small product difference and single payment form of insurance benefits.Aiming at the problems of limited actuarial level and lack of basis for pricing,the United actuarial model is selected from the Multi-state Markov,Decrement table and United actuarial model as the calculation model of long-term care insurance rate in this paper.According to the limited insurance statistics in China Data,under a series of hypothetical conditions,we calculated the five-year single payment and regular payment of insurance premium for the elderly men and women in China,and analyzed the current payment level of nursing insurance for the elderly disabled in China according to the calculation results.The calculation results show that the premium of commercial long-term care insurance is higher than that of traditional life insurance,while the economic income level of the elderly is lower,and they are unable to pay the high premium of long-term care insurance.Therefore,the government and insurance companies need to work together to reduce the premium of this kind of insurance to a certain extent,and stimulate the purchase demand of this kind of insurance for the elderly.At the end of the paper,based on the analysis and research above,some suggestions on the development of long-term care insurance in China are put forward from the insurance companies and the national level.As the designer of the product,the insurance company should increase investment in the publicity of the product,so that the demanders can understand the commercial long-term care insurance product in detail;train professional insurance agents,strengthen the underwriting strength of the insurance type and improve the corresponding claims clauses,so as to ensure the service quality and the fairness of claims.From the national level,first of all,we should speed up the implementation of tax preferential policies for commercial long-term care insurance,so that the price of such insurance can be relatively reduced,so as to reduce the insured pressure;second,the government should also give the companies carrying out such insurance loose investment policies to make up for their huge payment amount;at the same time,the government should also encourage insurance companies to develop a variety of investment policies Insurance products.In the end,the government and insurance companies make two-way efforts to promote the integration of Commercial Long-Term Care Insurance and Social Long-Term Care Insurance,reduce the burden of the state on the elderly disabled group care,and achieve a win-win situation between the government and insurance companies.