The Development Of China Life Insurance Industry And Complementary Pension

In China, Life insurance Industry has meet some problems, and it is more and more difficult to develop its traditional business. However, there is a big potential market of complementary pension plan. The foundation of the complementary pension plan is emergent because of the reform of social security system that make great developing space for commercial insurance. This article analyses the meanings and essences of the complementary pension and life insurance, finds their commonness and finds out their relationships in theory and practice in order to show that the insured complementary pension is a good way. Now it is the right time for life insurance industry to enter the complementary pension market, and it is a opportunity for china life insurance industry. This article investigates and sums up the development of insured complementary products in China. It points out the problems and challenge of how the Chinese insurance companies to develop the complementary pension market. I use the experience of developed countries for reference and give some suggestion for Chinese life insurance industry of how to develop the market.