A Study On The Willingness Of Only-child Parents To Participate In Commercial Long-term Care Insurance

Since the introduction of commercial long-term care insurance into the domestic insurance market in 2005,after more than ten years of development,it has been widely concerned by academia and practitioners.In the course of its development,in order to establish a long-term care insurance development model more suitable for China’s national conditions,the Ministry of Human Resources and Social Security issued 《the Guidance Opinions on the Pilot Development of Long-term Care Insurance System》(2016),which clearly listed 15 pilot cities,marking the beginning of a large-scale regional pilot phase of long-term care insurance,and providing a basis for future national promotion.Lessons learned.In our country,there is a special group-the only-child parents,which deserves our attention.The only-child parents have only one child to take care of their own problems.Whether in terms of manpower,financial resources or accompanying time,they are relatively scarce compared with multi-child parents.Therefore,these groups are facing more severe long-term nursing risks.Aiming at the only-child parents,this paper firstly analyzed the long-term care risks faced by this special group and the current situation of long-term care insurance.Secondly,based on the theoretical level,the factors affecting the participation of only-child parents in commercial long-term care insurance are analyzed from the perspective of both supply and demand.Then,using the first-hand data from the author’s questionnaire,this paper makes an empirical analysis of the factors affecting the insurance participation from the perspective of demand.It can be found that,in addition to gender,education level,the elderly in need of care at home,high insurance awareness and high level of elderly life worries,there is a significant impact on the demand for commercial long-term care insurance.The study also found that for only-child parents,the more they do not live with their children,the more they do not pay attention to family care,the more willing they are to participate in commercial long-term care insurance.Therefore,at the end of the article,the author puts forward suggestions from four levels: family,nursing institutions,government policies and insurance companies,hoping to provide a way of thinking for solving the long-term nursing problems of only-child parents in China,so as to help this group better cope with the long-term nursing risks in the future.Based on the above ideas,this paper is divided into the following six parts.The first part is the introduction.Firstly,this paper starts from the background of articles about the serious disability of the elderly,the large number of only-child families and the high cost of nursing care.Secondly,the significance of enriching the theoretical research on the willingness to participate in commercial long-term care insurance,expanding the pilot experience of long-term care insurance,and the current nursing status of only-child parents and the nursing risks they face are discussed.Then it combs and compares the literature reviews at home and abroad.Finally,it explains the research contents and methods of the paper,and clarifies the innovation and shortcomings of the paper.The second part is the definition of related concepts and theoretical basis.Firstly,it defines the professional terms of only-child family,long-term care and commercial long-term care insurance from the theoretical level.Secondly,it elaborates the three theoretical foundations that support this study,namely information asymmetry theory,Maslow’s demand theory and welfare pluralism theory.This part points out that the information asymmetry theory has a good enlightenment for the operation of the commercial long-term care insurance market.Maslow’s hierarchy of needs theory provides a theoretical basis for solving the different levels of needs of the only-child elderly parents.The welfare pluralism theory provides a framework for the construction of the long-term care insurance system for the only-child elderly parents.The third part is about the long-term nursing risks faced by the only-child parents and the current situation of protection.Firstly,it clarifies that the only-child parents are mainly faced with the risk of disability under the aging population,the risk of weakening the home care function under the special family structure,and the economic risk brought by the high cost of medical care.Secondly,in order to fully understand the status quo of long-term care insurance for only-child parents,on the one hand,the pilot experience of 15 pilot cities is summarized,and the characteristics and problems in the initial stage of system design are summarized.On the other hand,it summarizes the current situation and existing problems of commercial long-term care insurance.The fourth part is the theoretical analysis of the influence on the willingness of only-child parents to participate in commercial long-term care insurance.From the supplier’s point of view,the characteristics of commercial long-term care insurance,such as high price,more insurance restrictions,more emphasis on financial management than security,the substitution effect of other insurance products with endowment or medical security functions on long-term care insurance and the immature development of the endowment care industry matched with long-term care insurance,will to some extent inhibit the demand of some commercial long-term care insurance.From the demand side,economic,health,concept,insurance awareness,government policies and other factors will affect the demand side’s willingness to participate in commercial long-term care insurance.Finally,through the survey report of China’s long-term care insurance(2017)and the author’s spontaneous questionnaire,we understand the current demand situation of commercial long-term care insurance.The fifth part is the empirical analysis of the influence on the willingness of only-child parents to participate in commercial long-term care insurance.Due to the lack of data on the willingness of only-child parents to participate in commercial long-term care insurance,this chapter uses the author’s spontaneous questionnaire data for analysis.Regression analysis is divided into two parts.One is to find out the key factors affecting the purchase of commercial long-term care insurance by the factor analysis method,and to establish a binary logistic regression.Secondly,the dualistic logistic regression is established after assigning the dualistic variables.The results showed that besides gender,education level,elderly people in need of care at home,high insurance awareness,and high level of elderly life worries,the study also found that for the only child parents,the more they do not live with their children,the less they pay attention to family care,the more willing they are to participate in commercial long-term care insurance.The sixth part is the suggestion to properly solve the long-term care problem of only-child parents.Based on the previous theoretical and empirical analysis,this paper considers that the solution of long-term care for only-child parents is the joint responsibility of the government,insurance companies,nursing institutions and only-child families.Therefore,from the four aspects of only-child family,nursing mechanism construction,government macro-policy and insurance company supply,policy suggestions are put forward to properly solve the long-term care problems of only-child parents in China.The innovation of this paper lies in three aspects: First,the innovation of research perspective.Select the only-child parents as a specific research object.In the process of long-term care insurance related research,domestic scholars have already involved only-child parents face more severe long-term care risks than multi-child parents.However,there are few studies on the long-term care insurance for only-child parents.This study will be helpful to cope with the long-term care risks of only-child parents.The second is the innovation of research countermeasures.This paper studies the factors influencing the willingness of the only-child parents to participate in the commercial long-term care insurance through theoretical and empirical research,and then puts forward some suggestions to solve their long-term care problems properly by using subject knowledge.Third,the innovation of field survey data.Domestic scholars mostly focus on the eastern and central areas of the study of long-term care insurance,but less on the western areas.The article selected Chengdu as the research object,which can enrich the study of the western areas.