Analysis Of The Influence Of Family Population Structure On The Demand Of Commercial Life Insurance

Compared with many developed countries,China’s insurance industry started relatively late,the construction period is relatively short,and the overall development of the insurance industry is not very perfect.However,since China officially resumed its insurance business,China’s insurance industry has achieved a huge leap in nearly 40 years,with the number of insurance subjects increasing,the scale of premium income expanding rapidly,and the development of insurance products increasing According to the data issued by the China Bank Insurance Regulatory Commission in November 2020,as of that month,China has achieved the original insurance premium income of 2968.8 billion yuan,including life insurance premium income of 2251.3 billion yuan and health insurance premium income of 658.2 billion yuan.As of November,China has issued a total of 81.32 million insurance policies,including 63.3 billion life insurance policies 160000 and343.3 million health insurance.It can be seen that with the rapid development of China’s insurance market,residents’ insurance awareness has also been significantly improved.While the supply side of the whole financial industry,including the insurance industry,is in good shape,the demand side is also changing.Due to historical reasons,China put forward the basic national policy of family planning in the 1970 s.After the implementation of this policy,it has indeed brought a positive impact on China’s population control,Its disadvantages are gradually revealed,low birth rate and mortality rate make the number of the elderly population in China increase rapidly,and the reduction of the number of newborns will also make a number of industries appear weak phenomenon.For the insurance industry,especially the commercial life insurance industry,which is based on people’s life and body,the change of population structure is bound to bring challenges to the whole industry Based on this important objective situation,this paper studies the influence of family population structure on the demand of commercial life insurance,which has important theoretical and practical significance for the insurance industry under the change of population structure.Firstly,This paper introduces the aging situation of our country,the implementation of the "two child" policy and the changing trend of family size to elaborate the basic situation of the influencing factors of population structure.Then,based on the data of premium income,insurance density and insurance depth,it comes to the conclusion that China is already a big insurance country,but has not yet become a powerful insurance country.Secondly,we analyze the corresponding theories that affect the insurance demand.According to the life cycle theory,background risk theory and insurance demand theory,and combined with the miniaturization of family size,child dependency ratio and elderly dependency ratio,we make a qualitative analysis of the insurance demand.Finally,based on the survey data of family finance center of Southwest University of Finance and economics in 2017,we choose probit model and tobit model The empirical analysis of it model shows that the increase of child dependency ratio,the increase of elderly dependency ratio and the miniaturization of family size can promote the development of commercial life insurance market.Based on this research conclusion,this paper puts forward the following feasible suggestions.For government departments,we should provide corresponding policies and improve the follow-up supporting measures,so as to give more powerful protection to the "two child" policy.Insurance companies should gradually move closer to the combination of medical and nursing on the basis of existing conditions,better deal with the impact of aging,and strengthen the protection for families Awareness of risk prevention and vigilance against personal risk.