Research On The Impact Of Endowment Insurance On The Happiness Of Chinese Residents ——Based On CGSS Survey Data In 2017

According to the report of the 19th National Congress of the Communist Party of China,the original intention and mission of the Chinese Communists is to strive for the happiness of the Chinese people and the rejuvenation of the Chinese nation,which is mainly reflected in improving the people’s well-being and realizing the people’s well-being.Therefore,improving the residents’ well-being has become the goal of our country in the new era.As an important part of social security system,endowment insurance also plays an important role.From the perspective of well-being,this thesis examines the impact of the development of China’s pension insurance on Residents’ life.Firstly,it theoretically analyzes the application of Maslow’s hierarchy of needs theory,expected utility theory and Prospect Theory in the aspect of the impact of pension insurance on Residents’ subjective well-being,and expounds the impact mechanism of basic pension insurance and commercial pension insurance on Residents’ subjective well-being Secondly,it introduces the status quo of residents’ well-being and endowment insurance in China,including downward pressure on the balance of basic endowment insurance fund,single structure of commercial endowment insurance products and slow development.Thirdly,based on the data of China’s comprehensive social survey in 2017,it uses the ordered probit model to study the impact of endowment insurance on Residents’ subjective well-being The results show that participation in basic endowment insurance and commercial endowment insurance can significantly improve residents’ subjective well-being,and the promotion effect of basic endowment insurance is stronger.Then,the regression analysis of urban and rural sub samples shows that endowment insurance has a greater impact on subjective well-being of rural residents.Finally,according to the research results,it is proposed that the government should focus on the basic old-age insurance system,accelerate the development of commercial old-age insurance,and implement the unified urban and rural social old-age insurance system.Insurance companies should strengthen product innovation and improve service supply,so as to more effectively improve the subjective well-being of Chinese residents.