The Research On The Design Of Family Joint Long-term Care Insurance

According to State Statistics Bureau,by December 2021,the population aged 65 and above will reach 200 million,accounting for 14% of the total population,and the old-age dependency ratio will be 20.8,every 5 working people will support one elderly person.China’s birth rate has been decreasing year by year since 2016 and will drop to 7.52 per thousand in 2021.According to the new standard of the United Nations,the 65-year-olds account for 7% of the total population,which means that the region has entered the aging society;Reach 14%,is deep aging;If it exceeds 20%,it will enter the super-aging society.Our country has entered a deeply aging society.The increasing number of the elderly,coupled with the improvement of medical conditions,many malignant diseases into chronic diseases,the number of disabled elderly people and the need for care is increasing,but the cost of care is rising.At present,the effective supply of long-term care insurance products is insufficient,and how to properly solve the living problems of disabled elderly people has become a pressing matter of urgency.Therefore,based on the design concept of "taking the old with the young",this paper studies and develops family joint long-term care insurance products.Through a family policy,the premium threshold of long-term care insurance is lowered,so that more families can be guaranteed.Family joint long-term care insurance products can not only reduce the premium expenditure of long-term care insurance,reduce the financial pressure of the family,reduce the support pressure of the young people in the family,protect the living standard of the disabled elderly,but also increase the young people’s awareness of the risk of disability,stimulate their insurance willingness,prevent family care to replace long-term care insurance products.This paper firstly defines the connotation of long-term care,long-term care insurance and family joint long-term care insurance,and summarizes and selects the insurance pricing model.Then,through market research and analysis,the external environment and people’s needs of the current long-term care insurance products are clarified to provide reference for the design of long-term care insurance products that meet the actual needs.Then the paper focuses on the product terms design and pricing research,the use of Markov pricing model,annuity method to calculate premium price,and comparing with the traditional long-term care insurance;Finally,the conclusion is drawn,and the next research direction is clear that the product should be promoted to the market more quickly and effectively.Based on this study,the following conclusions are drawn: the premium expenditure of family joint long-term care insurance is lower than that of traditional long-term care insurance.For the same claim amount,the premium of family unified long-term care insurance is more advantageous,which reduces the expenditure pressure of people getting long-term care insurance.By comparing traditional long-term care insurance,the earlier the family joint long-term care insurance is purchased,the more price advantage can be reflected.