Family Factors And Demand For Commercial Endowment Insurance

With China's rapid aging of the population in recent years,people will pay more and more attention on pension.The commercial endowment insurance may make up for deficiency of social endowment insurance.As not only the promotion but also approval degree of commercial endowment insurance is still in the initial stage in our country,people's understanding about it is not much,and people's acceptance degree to it is not high.The thesis uses micro data received from CHFS' questionnaire to explore how and what family factors influence whether people buy commercial endowment insurance or not and factors which influence the premium based on the people's needs of commercial endowment insurance.First,this thesis uses the literature research method to summarize and organize the theory of commercial endowment insurance of interest and its influence factors.Second,the descriptive statistics are used to analyze,then the probit model and tobit model is established to study influence factors of family about people's intention of commercial endowment insurance and how much premium they pay.The conclusions are as follows:family size has a significant positive effect on the of commercial endowment insurance,but has a significant negative affect on the premium;the improvement of city's urbanization level has a negative effect on needs and premium;when people are better educated,they will have more significant purchasing intention;More family member employed means more need and less premium.The proportion of the young and the aged in the family members have no significant effect on the need of but also on the premium of commercial endowment insurance,but the symbol of the empirical results still has certain practical meaning in real life.Finally,the following suggestions are put forward based on the results of the analysis:consumers need to improve their understanding of the commercial endowment insurance and consciousness of the unknown risk prvention in the future;insurance companies need to provide much better products and services;the government should also get involved in make policies about supervision and incentive.