Research On The Development Of Commercial Long Term Care Insurance Products In China

In recent years,the effect of family planning policy implementation constantly appear.The scale of family structure is gradually reduced in China.Although since January 1,2016 the country began the full liberalization of "the two child policy ",in the short term the scale of family structure narrowing trend still will not change.Ones make the traditional family pension function gradually weakening.In addition,the problem of population aging becomes serious.The number of disabled elderly people is increasing.These make the community for the long-term care needs continue to increase.But "not rich first old" national conditions make our government long-term care insurance into the social security system impossibly.Therefore,if we want to meet people’s needs,we need to rely on commercial long-term care insurance.But at present,our country commercial long-term care insurance is in its infancy.The products of insurance market is few.These products exist serious problems such as product homogeneity.It is difficult to meet the demand for long term care insurance diversification.Therefore,it is important to develop commercial long term care insurance to meet market demand.This article first defines the relevant concepts and characteristics of long-term care insurance,and briefly introduces the development of long-term care insurance market in China.Then the data of the current situation of long-term care insurance demand were obtained through the questionnaire in Hebei province.After analyzing the demand factors,the author analyzed and compared the commercial long-term nursing insurance products sold in the insurance market of our country,There is a high threshold of insurance,premiums and other issues.And then combined with the United States and Japan,the two countries long-term care insurance products,the advanced experience of China’s insurance company’s product design and make corresponding recommendations.