A Study On The Influence Of Population Structure On Life Insurance Demand In China

With the passage of time and the change of fertility policy,the population structure of our country has changed greatly,which affects the whole country’s economy and all aspects of development.In order to study the impact of population institutions on life insurance demand,this paper first divides the population structure into age,gender,marriage,family,culture,urban and rural structure according to the natural,social and regional attributes of the population,and expounds in detail how these six structural levels act on life insurance demand.Secondly,it studies the changing trend of population structure in China,and analyzes the current situation of life insurance demand in China.It is found that the overall level of life insurance demand in China is developing well,but the regional differences are obvious.On this basis,the paper selects the dynamic panel data of 31 provinces and cities in China from 2008 to 2018 as well as the corresponding quantitative indicators and uses GMM to investigate the impact of demographic change on life insurance demand,and discusses the reasons for the difference of the impact of demographic structure on life insurance demand in different regions with different levels of economic development.The research shows that in all samples,education level has a significant positive impact on life insurance demand.In the national sample,both the marriage rate and the elderly dependency ratio will promote the demand for life insurance.In the sub sample,the effect of gender ratio on life insurance demand in the eastern region is significantly promoted,the effect of marriage rate in the central region is significantly inhibited,the elderly dependency ratio in the eastern and central regions is significantly promoted life insurance consumption,and the impact of family size on life insurance demand in the central and western regions is positive.Among the control variables,the coverage of social security will have a negative impact on the demand for life insurance in the central region.According to the relevant conclusions and empirical analysis,this paper puts forward suggestions from the perspective of the government and insurance companies to promote the demand for life insurance: the government should enhance the education level and risk management awareness of all the people.For life insurance companies,we should develop more new products to meet the different needs of life insurance market.