Research On Pricing Of Long Term Care Insurance Products

In the 21 st century,China is faced with the serious problem of population aging,and with the growth of the young generation,the traditional concept of family has been impacted,and the relationship between people is no longer the previous "bundling" but increasingly emphasizes the value of freedom of independent individuals.Especially in urban areas,more and more elderly people face their old age pension problems and medical problems,etc.,no longer constrained by traditional ideas,they place their hopes on their children.The emergence of nursing homes,nursing homes,hospices and other institutions has provided more options for the elderly.These places can not only provide social activities for the elderly,but also provide more company and more detailed care for the elderly.In this social activity,there will be a significant cost of elderly care.According to the economics of supply and demand balance point of view,our country is now on the market system trained,professional,high professional quality of long-term care serious shortage of resources,and the demand for long-term care of old people is increasing,the nursing resources,and the old man needs serious imbalances will inevitably lead to the care costs rise,for now the young people this is a foreseeable future pension risk and hidden trouble,But at the same time for the insurance industry,this huge market demand undoubtedly represents a lot of untapped potential customers.However,at present,our country is still in the development and exploration stage of construction in the field,for the long-term care for the elderly and insurance data for reference and precedent is less,and the product pricing is also lack of market macro data support,all these need to be explored.It is well known that longterm insurance nursing products are mainly an insurance business for the elderly at the present stage in our country.Therefore,this paper starts from the disabled elderly,introduces in detail the definition of the disabled elderly and the social attitude towards the disabled elderly,and the nursing industry meets the needs of the disabled elderly,etc.In the process of research,it is found that a large number of data and data belong to long-term care insurance in long-term health insurance,and in health insurance,the health status of the policyholder is very important,and it is necessary to define the payment conditions and levels of insurance benefits by dividing the health status of the body.For the daily food,clothing,housing,transportation,physical cleaning,proper exercise,laundry cleaning,etc.,combined with the main audience of long-term insurance: the elderly with mobility difficulties and the elderly with silly diseases often need long-term care,even if they can fulfill some self-living needs in life.Based on these problems,this paper will combine the current long-term care theory and practice to do some tentative long-term product pricing researchThis paper mainly takes the pricing of long-term care insurance products as the main research content,from the basic concept,the insurance supply and demand research and finally the product pricing research in these three aspects,combined with the background of deepening aging in China,all aspects of long-term care insurance products to do a deep research.The choice of model is particularly important.The difference between long-term care risk and the risk of serious illness and accident in traditional insurance liability is that serious illness and accident are one-time risks,while long-term care is a need that lasts for many years.The disability may be lifelong until death,but health can also be restored.Therefore,it is not suitable to use the traditional life insurance actuarial Manchester United model as the research method.In the process of searching,it is found that the Markov model meets the assumption of independent state transition,so this model is selected as the pricing basis for subsequent research.Through the data collection,using the two-year data of CHARLS Health questionnaire survey in 2015 and 2018,the regression analysis of the sample status was conducted to obtain the state transition probability matrix,set the reasonable insurance benefit level,and finally obtain the product rate...