The Design Of Losing-only-child Family Insurance Product

Nowadays,the losing-only-child family has aroused the widespread attention from various circles of society.Under the background that China's old-age security mainly relies on family supporting,compared with families with many children,one-child families are faced with greater risks.Once the only child is lost,their parents will face the dilemma that no one care for the aged.Although there are currently social endowment insurance and support fund for the elderly for the bereft of an only child,these alone cannot completely solve the pension problem of the bereft of an only child family.It is also necessary to introduce commercial endowment insurance to play its due social endowment security function.Therefore,it is of great significance to study the losing-only-child family endowment insurance.In the process of designing the endowment insurance for the family with the lost only child,the necessity of designing the endowment insurance product for the family with the lost only child is introduced by analyzing the current endowment situation of the family with the lost only child and relevant supportive policies.Then,put forward the design concept of "people-oriented,precise service,and guarantee people's livelihood",and give the main design ideas of this product: market research,pricing design and market promotion.In the market research,the only child family in Jiangbei district of Chongqing is taken as the research object to have an in-depth understanding of the market demand of this product,and make statistics and analysis of the survey results,so as to provide some actuarial reference for the later pricing design.In the pricing design,we first make relevant actuarial assumptions according to the previous market research data,and then establish a cash flow model to determine the pure premium of the pension insurance for the the losing-only-child family,and finally calculate the total premium,namely the price of insurance products,according to the pure premium method.In the market promotion,this paper analyzes the advantages and disadvantages of the endowment insurance product of the losing-only-child family,and according to the current market development situation,puts forward relevant marketing suggestions to ensure the product successfully entry into the market.At present,most scholars focus on social support and policy theory to study the lost only child group,few scholars from the perspective of insurance research.By designing the endowment insurance for the family with the lost only child and using the important social security means of insurance to solve the endowment problem of the group with the lost only child,it can open up a new direction for the future research on the academic theory and practice of insurance.In addition,in the pricing design of endowment insurance products for families with only one child,the market demand survey results and pricing design theory are combined to determine a price that conforms to both the actual needs of families with only one child and the product pricing principles,so as to make the product pricing more market prospect and practical significance.Of course,there are some deficiencies in the design of this product.First,the small range and small number of samples selected in the questionnaire survey will affect the representativeness of the survey results to some extent.Second,the product pricing data is not accurate enough,there may be some error.Third,age,population,economy and other factors in different regions are not fully taken into account.Therefore,regional differences in products need to be improved.