Research On The Influence Of Population Structure On Life Insurance Demand In China

Since entering the new century,with the improvement of people’s living standard,China’s insurance industry has developed rapidly,especially life insurance.At the end of 2000,only 17.6 billion yuan of original premium income,by the end of 2020,the original premium income reached 2.39 trillion level.The development of life insurance is extremely rapid,but with the transformation of population growth to "low birth,low death,low natural growth rate" in China,the population structure shows the phenomenon of "aging and minority ",and the population structure that affects the development of life insurance in China has changed greatly.Therefore,this paper uses the empirical test method to study and analyze the factors that affect the life insurance demand by population structure.The first chapter describes the research background and significance,and reviews the relevant literature at home and abroad.The second chapter describes the theoretical basis of population and life insurance demand,including the concept of life insurance,the concept of population structure,Maslow’s hierarchy of needs theory,life insurance demand theory and life cycle consumption theory.The third chapter introduces the present situation of population structure and life insurance in China,and explains in detail the present situation of population aging,minority,education level improvement and urbanization population increase in China.At the same time,the continuous development of life insurance and the gap with foreign developed countries are introduced.The fourth chapter mainly describes the mechanism analysis of population structure for life insurance demand,and analyzes the impact of population on life insurance demand from three aspects: population natural structure,population social structure and population regional structure.The fifth chapter is also the core chapter of this paper,using the population structure and life insurance demand panel data of 30 provinces,municipalities and autonomous regions in the country from 2010 to 2019.The explanatory variables of population structure factors include child dependency ratio,old age dependency ratio,sex ratio,education level,marriage rate,average household size and urbanization rate;life insurance demand adopts the variable of life insurance density;and the per capita GDP is introduced as the control variable.From the empirical results,the elderly support ratio,sex ratio,education degree,marriage rate and urbanization level have a significant positive impact on life insurance demand;while the average household scale has a significant negative impact on life insurance demand;the child support ratio has a negative impact on life insurance demand,but the impact degree is not significant.In the empirical end,the robustness test replaces the density of life insurance,which proves that the results are robust and credible.The final chapter of this article is the conclusions and recommendations.It are mainly given suggestions from the perspectives of the state and insurance operators: pay attention to the development of economy,pay attention to talent training,balanced population structure,promote urbanization development and accelerate the innovation of life insurance products.