| The age structure of our population is in the process of constant change,the total population is increasing,but with the influence of policies and the change of conception of fertility,the birth rate remains very low,while the mortality rate is relatively stable.The natural growth rate of the population was decreasing,life expectancy and the birth rate had led to a growing elderly population and a growing elderly dependency ratio.These demographic changes make the age structure of the population change,which will affect China’s economy,and also affect the protection of life insurance and investment life insurance demand.This paper focuses on the influence of changes in the age structure of the population on the demand for heterogeneous life insurance.On the basis of combing through the previous literature,this paper first introduces the theory of life insurance demand,defines the concept of population age structure,heterogeneous life insurance and life insurance demand,and it also shows the characteristics of guaranteelife and the function of investment life insurance.Economic and social factors.Once again,according to the data on China’s current population age structure and life insurance demand for the status quo and characteristics of the description,at the same time,the development of guaranteed life and investment life insurance status and characteristics.Then,using the insurance and investment insurance premium data of 30 provinces and cities in China from 2009 to 2018,the per capita disposable income,stock price index,real interest rate,Engel coefficient,urbanization rate and social security level are the control variables,with the old-age dependency ratio and the child-rearing ratio as the core explanatory variables.By establishing a panel data model to study the influence of population age structure and other related factors on the development of heterogeneous life insurance.The empirical results show that the change of the elderly population is positively correlated with the demand for guaranteed life insurance,and the increase of the elderly population will cause it to have a strong desire to obtain protection,thus promoting the increase of the demand for guaranteed life insurance,the demand for the old people’s protection life insurance is stronger;because of the misunderstanding of life insurance in the elderly population and the incompleteness of the life insurance market,the impact on the demand for investment life insurance is not significant.The increase of the child population,promoting the increase of the demand forguaranteed life insurance,but it has a dampening effect on the demand for investment life insurance.The influence of population age structure on the demand of guaranteed life insurance is greater than that of the demand of investment life insurance.Therefore,with the change of population age structure,the guarantee life insurance plays an extremely important role.The impact of the increase in the elderly population on the security and investment type is higher than that of the increase in the number of children.Finally,according to the content of theoretical analysis and empirical results,the full text is summarized.And from the insurance company,government and regulatory point of view of policies and recommendations.Insurance companies should return to the origin of protection and vigorously develop guaranteed life insurance.At the same time,insurance companies should innovate life insurance products to meet different levels of life insurance needs.And insurance companies should improve their service levels and develop a full range of life insurance plans.On the government side,popularize the common knowledge of life insurance and enhance the supplementary strength of life insurance to social security.Meanwhile,On the one hand,the government accelerates economic development and raises the income of residents,and on the other hand,provides financial subsidies for rural residents to purchase life insurance.In terms of supervision,strengthen supervision and promote market-oriented reform of life insurance products.Three aspects work together to achieve the rapid development of life insurance demand. |
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