The Impact Of Assortative Mating On Commercial Family Insurance Purchase

As an important part of China’s financial industry,the insurance industry plays an important role in China’s economic development.In order to promote the development of the insurance industry,many scholars have studied the factors affecting the insurance consumption and make contribution to the development of our country insurance industry.It is of great significance to study the factors affecting insurance consumption in economics and sociology.Therefore,this paper adopts the data of China Household Finance Survey 2019(CHFS2019)to define marriage matching degree,and further analyzes the influence of marriage matching degree on family commercial insurance participation through Probit model,OLS model and Tobit model.From a theoretical perspective,domestic and foreign scholars mainly focus on the impact of residents’ financial knowledge level,income ability,cognitive ability and risk attitude on their participation in commercial insurance.However,as an important part of modern families,few scholars have studied the impact of marriage matching on family commercial insurance purchase.Therefore,this paper brings a new perspective to the study of the impact of commercial insurance.In a practical sense,studying the influence of marriage matching degree on the purchase of family commercial insurance is conducive to making families with different marriage matching degree attach importance to the role of commercial insurance,which can prevent the risk caused by marriage instability,and enable insurance companies to attach importance to the commercial insurance needs of families with different marriage matching degree and conduct targeted marketing.Therefore,from the perspective of marriage market,this paper analyzes the influence of marriage matching degree on the demand for family commercial insurance.Secondly,in order to further analyze the influence of marriage matching degree on the purchase of family commercial insurance,this paper analyzes the heterogeneity from different regions,different types of insurance,different income levels and different insures.Insurance companies can subdivide family types according to different marriage matching degree,design and promote various innovative insurance products in different supporting forms,and adjust insurance marketing strategies.Explore potential customers and promote family insurance consumption.In the process of writing the paper,firstly,I studied and analyzed the literature related to commercial insurance and marriage matching,and proposed the research content of this paper according to the relevant theories.Secondly,in order to study the influence of marriage matching on the purchase of family commercial insurance,the empirical content of this paper is analyzed after selecting appropriate data and data cleaning.Finally,this paper combines the results of empirical research and the reality of our country to give effective suggestions.The empirical analysis results of this paper are as follows: First,female "downward" marriage has a significant positive correlation with family commercial insurance participation,that is,compared with other gradient marriage families,female "downward" marriage families are more likely to buy commercial insurance;Secondly,the study found that female "downward" marriage has a significant positive correlation with family commercial life insurance and family commercial health insurance participation,that is,female "downward" marriage families are more likely to buy commercial life insurance and family commercial health insurance.For different regional families,the effect of "downward" marriage of women in central and western regions on family commercial insurance participation is more significant than that in eastern regions.Across income groups,women in the middle and upper income groups were more likely to buy commercial insurance if they were married "downward";Among the different insured,families were more likely to buy commercial insurance for both spouses and more likely to buy insurance for the wife.Finally,it is found that the effect of marriage match on family business insurance participation is influenced by family investment preference and family health concern.According to the research results,this paper suggests that insurance companies should pay attention to the mating degree of couples and innovation of insurance products when designing insurance products,so as to meet the needs of different types of consumers.Subdivide family groups and adjust marketing strategies;Pay attention to the property division of husband and wife insurance,protect the rights and interests of customers;Improve the husband and wife insurance consciousness,actively participate in the insurance;Residents should set up a correct marriage concept,improve the quality of marriage;Both husband and wife should take the initiative to learn financial knowledge and understand the insurance function;The government should optimize the family income structure through policy support;The government should strengthen the publicity of insurance knowledge and increase the participation rate of residents.