The Pricing Analysis Of Private Long-Term Care Insurance In Rural China

At present,the aging of the population become a serious social problem in China.To solving the problem of long-term care for the elderly,it is necessary to establish a long-term care insurance(LTCI)system as soon as possible according to the national conditions.LTCI is a health insurance that provides long-term care fee or service for the insured due to old age,illness or disability.Based on the aging and disability of urban and rural areas in China,this paper analyzed the urban-rural differences in the demand for LTCI in China.At the same time,this paper introduces the experience of solving the supply of LTCI at home and abroadThis paper mainly tries to calculate the pricing of LTCI in rural areas of China,so as to provide a reference for commercial insurance companies to introduce LTCI suitable for rural areas.In terms of product form design,pricing model selection and model parameters assumption,this paper makes a personalized exploration and research according to the characteristics of rural areas in China.Finally,the overall rate level of LTCI in rural areas of China was calculated,and the characteristics of the rate were analyzed.The study found that rural areas have higher disability rates,and poor medical and care conditions,so the demand for LTCI is very urgent;from the perspective of premium pricing,in the current lack of empirical data,the use of Manchester Method to estimate the premium rate is more appropriate.According to the rate calculated from the model,the premium of LTCI is higher than the payment ability of rural elderly groups.From the perspective of policy support,the following three policy recommendations are proposed:(1)to provide tax incentives for commercial LTCI(2)to actively establish long-term care services in rural areas(3)to promote and guide the "filial piety" culture in the whole society.