| Our country is facing the huge challenge brought by the aging population.By the end of 2018,the proportion of the elderly aged 65 and above in China’s total population was 11.9 percent,and the aging process of the population was accelerating.On the other hand,due to the change of fertility concept in China and the increase of dependency cost,the birth rate continues to decline,the effect of the universal two-child policy is not as expected,and the fertility rate in China is on the trend of continuous decline.At the micro level,the above changes in population structure are reflected in the changes in family population structure.The family structure in China is becoming smaller and more core,with 2-and 3-person families becoming the main family type,with an average size of 3.35 people.There is a general trend of miniaturization and inverted triangulation of family structure,and the family is facing more and more pension pressure.However,the social basic pension account is facing greater payment pressure at present,which has resulted in the situation of empty account operation,and the replacement rate is declining,which is difficult to meet the basic security of residents’ pension life.In this context,the role of commercial life insurance more prominent.Life insurance has the function of transferring the risk of old age and protecting the life of old age.Although China’s life insurance industry has developed rapidly in recent years,it still has the problem of insufficient participation compared with developed countries.Under the social background of aging population and changing family population structure,it is of great theoretical and practical significance to study the demand of life insurance to promote the development of life insurance industry in China and provide decision-making reference for government departments to make up the shortage of the third pillar commercial endowment insurance.This paper first summarizes the relevant theories of life insurance demand and makes a qualitative analysis of the demographic factors that influence the demand for family life insurance.Secondly,it describes the current situation of China’s family population structure and life insurance development,and analyzes and summarizes the data.Next to the empirical analysis part,using the 2015 Chinese health and pension tracking survey data,using probit model to empirical analysis of possibility to participate in family life insurance,using tobit model to empirical analysis of family life insurance participation,and according to the interviewee residence,age,family income heterogeneity analysis,to explore the influence of population structure offamily life insurance demand.Finally,it puts forward corresponding policy Suggestions for the development and improvement of life insurance industry in China.The study found that family size had no significant effect on demand for life insurance.The number of children has a significant negative influence on the purchase intention of life insurance.Among them,the effect of son number is more obvious.The influence of age on the purchase intention of life insurance presents an inverted "U" shape.Self-rated health has a significant positive effect on purchase intention of life insurance.The number of years of education,annual household expenditure and total household assets have significant promoting effects on the purchase intention of life insurance.Whether or not to participate in the social basic endowment insurance and the level of social basic endowment insurance have no significant influence on the purchase intention of family life insurance.Marital status significantly reduced participation in family life insurance,meaning that married householders had lower participation in family life insurance.From the perspective of urban and rural areas,family size has a significant negative impact on the participation rate and degree of rural family life insurance,while it has no significant impact on urban families.The number of sons significantly inhibited the purchase intention of urban and rural family life insurance,but only negatively affected the participation degree of rural family life insurance.Heterogeneity analysis of household income,It was found that the number of sons only significantly inhibited the life insurance demand of low-and middle-income families.Self-assessment of health will only increase the demand for life insurance in high-income households. |
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