Research On The Impact Of Commercial Medical Insurance On Household Financial Asset Allocation

China’s gross national product is getting higher and higher,and people are getting richer and richer.How to effectively allocate family wealth has become more and more important.At present,my country’s financial market is developing very fast,financial products are becoming increasingly abundant,and more families are participating in the financial market.Nevertheless,the participation rate of Chinese households in the risky financial market is very low,people’s savings rate is very high,and the structure of asset allocation is very simple.Therefore,it is necessary to analyze the factors affecting the allocation of financial assets of Chinese households,which will help households optimize their financial asset portfolio.The configuration structure also helps families improve their ability to defend against financial risks.This article is based on the 2015 and 2017 China Household Finance Survey data,using the panel double fixed effects model,starting with commercial medical insurance,to analyze its impact on household allocation of risky financial assets,and testing the regression results’ stability from multiple angles.In order to make more targeted suggestions on the allocation of financial assets to families,this article uses the household registration of the family,the gender of the head of the household,the risk attitude of the family,and the grouping of the region,to influence the different effects of commercial medical insurance on the probability of family financial asset allocation.Perform analysis.This article draws the following main conclusions: Generally speaking,households holding commercial medical insurance obviously increase the possibility of households investing in risky financial assets.Then this article grouped the entire sample and analyzed the heterogeneity,and found that: First,due to the different household registrations,the promotion effect of commercial medical insurance on the allocation of family risk financial assets has obvious differences.Compared with rural households,urban households holding commercial medical insurance has a more obvious effect on the allocation of risky financial assets.Second,the gender of the household head is different,and the effect of commercial medical insurance on the allocation of family risk financial assets will also be different.The effect of holding commercial medical insurance on the allocation of risky financial assets is more significant for female-headed households than male-headed households.Thirdly,the risk attitudes of families are different,and the promotion effect of commercial medical insurance on the allocation of family risk financial assets will also vary greatly.Compared with risk-averse households and risk-preferred households,risk-neutral households have a greater role in promoting.Risk preference households have the least promotion effect.Finally,the effect of commercial medical insurance in promoting the allocation of risky financial assets by families varies greatly depending on where the family is located.It has a significant promotion effect on families in North,East,and South China,but has no significant effect on families in Northeast,Northwest,Central and Southwest China.Based on the above studies,this article offers several reasonable suggestions: perfect the commercial medical insurance market,narrow the gap between urban and rural development,and pay attention to the coordination of economic development in different regions.