Research On The Consumption Behavior Of Chinese Residents’ Life Insurance

In recent years, with the development of economic and the improvement of living standards, the demand of life insurance is more stronger, life insurance industry has developed rapidly. In 2014 the premium of national life insurance has reached 1670 billion Yuan, and in Shandong Province it is 82.53 billion Yuan. Life insurance has played a more important role in transferring risk and providing economic compensation. But from the overall level of development of the industry, it is still in the primary stage, the management concept is extensive, the competition is not sufficient, consumers are not mature, the product and service can’t match the economic development and consumer demand, there is some mismatch of supply and demand in life insurance consumption. This can lead to the distrust of the consumers and will also affect the realization of insurance consumption. Therefore, to study the problems of the consumption of life insurance in Shandong, and to put forward measures of promoting the consumption is the main concern of regulators and insurance companies.At present, the research of the factors that affect the life insurance consumption are mainly based on national market, the study of the area is less, more rare study of Shandong Province. This paper firstly analyzes the macro and micro factors influencing the consumption of life insurance, then summarizes the current situation of Shandong Province, and uses the multiple regression analysis method to analyze the macro factors affecting the demand of life insurance in Shandong province. Finally, put forward the suggestions from the macro policy, optimizing supply, improving demand, strengthening supervision and self-discipline to improve the consumption of life insurance.This paper is divided into six parts. The first chapter is the introduction, which introduces the background, purpose and significance of the study, and introduces the innovation and difficulty of this paper. The second chapter is literature review which summarize the research results of the domestic and foreign study from the research content. The third chapter is about the factors that affect the consumption of the life insurance, it mainly analysis from the macro and micro perspective. The fourth chapter is the analysis of the status quo of the life insurance consumption in Shandong. It analyses the current situation and the problems of the life insurance consumption in Shandong, from the aspest of overall situation, the market structure, the channel structure, the product structure and the supply and demand.In the fifth chapter, the empirical analysis of the macro and micro factors affecting the consumption behavior of life insurance in Shandong province is carried out. In the sixth chapter, it put forward the countermeasures and suggestions to improve the consumption of personal insurance products from the macro policy, supply, demand, supervision and self-discipline.