| Since the reform and opening up in 1978,China’s economy has developed rapidly and achieved good results.The per capita GDP increased from 381 yuan in1978 to 6,606 yuan in 2018,ranking the second in the world.Meanwhile,China’s life insurance industry has made great progress thanks to the economic growth,with the life insurance premium income in 2018 increasing by more than 1,700 times compared with that in 1989.However,at the same time,the density and depth of life insurance are still far from the global average level,the density of life insurance in2017 was only 3/5 of the global average,and the structure of life insurance products is very unbalanced.The age structure of population,as an important factor affecting the development of life insurance industry,is undergoing a major change of fewer children and aging.This change will have a huge impact on the development of the life insurance industry.This paper will study the influence of population age structure on life insurance demand from two aspects: the total life insurance demand and the demand structure.The body of this paper consists of five chapters.The first chapter is the introduction.In this chapter,the research background,research significance,literature review,research content,innovation points and shortcomings of this paper are expounded.The literature review part is mainly to comb and summarize the domestic and foreign literature on population age structure,influencing factors of life insurance demand and influencing factors of life insurance demand structure.The second chapter is the concept and development of population age structure and life insurance demand in China.In this chapter,the concepts of population age structure,life insurance,life insurance demand and life insurance demand structure are elaborated.Then according to the existing literature summarized the life insurance demand and the structure of life insurance demand factors,and carried out a specific analysis.Finally,the population age structure and the development of life insurance market in China are introduced.The third chapter is the qualitative analysis of the influence of the change of population age structure on the total life insurance demand and the demand structure.In the first section,the theory of life insurance demand is firstly expounded,and then the influence of the change of population age structure on the total life insurance demand is analyzed.It is mainly analyzed from three aspects: the influence of aging on it,the influence of fewer children on it,and the influence of the combined effect of aging and fewer children on it.In the second section,the theory related to the structure of life insurance demand is firstly expounded,and then the function of each specific type of life insurance and the motivation of life insurance demand under the background of fewer children and aging are analyzed in detail.The fourth chapter is the empirical analysis of the influence of the change of population age structure on the total life insurance demand and the demand structure.The first part is an empirical analysis of the influence of the change of population age structure on the total life insurance demand in China.The panel data of 30 provinces,municipalities and autonomous regions(except Tibet)in China from2005 to 2018 are selected,with life insurance density as the dependent variable,and the old-age dependency ratio,the child dependency ratio,per capita disposable income,real interest rate,savings rate and Educational level builds models for explanatory variables and draws empirical results: elderly dependency ratio,per capita disposable income,household saving and education level has positive correlation with life insurance demand,children’s dependency ratio and the real interest rate is negative relationship with life insurance demand.Therefore,it is concluded that the change of China’s population age structure will promote the increase of life insurance demand.The second part is an empirical analysis of the influence of the change of population age structure on the structure of life insurance demand.Also selected the panel data of 2005-2018 in our country,the traditional life insurance density and the density of innovative life insurance as the dependent variable,with elderly dependency ratio,children’s dependency ratio,per capita disposable income,saving rate,real interest rates and the level of social security as explained variable model,empirical results are: elderly dependency ratio on the two types of life insurance coefficients is significantly positive,but the impact on the creative life insurance coefficient is smaller than that of traditional life insurance influence coefficient.The child dependency ratio has a negative impact on both types of life insurance,but the impact on traditional life insurance is not significant.Chapter five is the conclusion and policy Suggestions.This chapter mainly summarizes the main conclusions of the previous studies,and on this basis,puts forward two policy Suggestions on the total life insurance demand and the structure of life insurance demand.The specific Suggestions are as follows: improve the image of life insurance in the public mind,and enhance the public’s trust in life insurance;Increase the per capita disposable income of residents and promote the transformation of potential demand into effective demand of life insurance market;Accelerate the innovation of life insurance products and services and promote the development of commercial annuity insurance market;Return to the most basic guarantee function of life insurance products,and clarify the core competitiveness of products;Healthy development of new life insurance products to meet the needs of multi-level life insurance;To create a healthy insurance environment and promote the optimization of the structure of life insurance products. |
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