The Research On The Development Of Housing Reverse Mortgage Endowment Insurance In Hunan Province

Housing reverse mortgage endowment insurance is a kind of innovative endowment insurance business which combines reverse mortgage and lifelong pension annuity insurance and it is also an exploration of insurance industry participating in "house-for-pension".Since the launch of housing reverse mortgage endowment insurance by China Insurance Regulatory Commission,it has a smooth and reliable operation and becomes the first financial product which is with the feature of “house-for-pension” and forms a certain size.The aging trend in Hunan province is obvious and although the pension security and housing security reforms have made breakthrough progress,they still can't solve the problem of supporting old people fundamentally.Therefore,it is urgent to find a new pens ion manner to meet the three core demands of old people,namely,home care,increase of pension income and lifelong pension.In this paper,we take Hunan province as the research object and regard the current aging situation of Hunan province as the entry point to analyze the limitation of the current pension mode and social pension system.At the same time,we also discuss the favorable factors of the development of housing reverse mortgage endowment insurance in Hunan Province and demonstrate the urgency and necessity to carry out the housing reverse mortgage endowment insurance in Hunan province from the perspective of macro-environment.Later in this paper,we select people over 40 in each city of Hunan province whose main part is Changsha city as sample s to investigate the potential demand of the housing reverse mortgage endowment insurance.Through the system research of the purchasing power,insured willingness and insured motivation of the research objects,from the individual micro perspective,we obtain that Hunan province indeed has the potential demand to carry out housing reverse mortgage endowment insurance.Finally,drawing the successful experience of housing reverse mortgage endowment insurance at home and abroad and considering the practical situation in Hunan province,we design in details the organization model,participating institutions and operational processes for the development of in Hunan province.At the same time,while designing the operational process,we take a full consideration to avoid all kinds of risks to ensure the smooth promotion of housing reverse mortgage endowment insurance in Hunan province in the future.