A Study On The Impact Of Urban Household Demographics On The Demand For Savings-based Life Insurance In China

The family is the most basic natural unit of economic society.The traditional Chinese big family usually consists of several generations living together under one roof,thus forming a relatively stable social natural unit.This special group of blood and kinship relations,such as family members bear different responsibilities and division of labor for raising children,raising the elderly and helping relatives and friends.However,with China’s reform and opening up,adjustment of family planning policy,acceleration of urbanization and other social changes,especially since China’s overall entry into the middle income at the beginning of the 21 st century,the natural body of the family as the economic decision-making unit has undergone significant changes.On the one hand,the family population structure has undergone significant changes,for example,the family size has increased significantly.Family miniaturization,aging decreases and a series of significant changes;Buying insurance,on the other hand,since 2016,has become our country ordinary household consumption,investment,the preferred.The relationship between them has become a social and researchers focus of concern.On the basis of combing the literature and theories on the influencing factors of life insurance demand at home and abroad,this paper adopts the research methods of literature research,qualitative research and quantitative research,and focuses on the three indicators of family size,child dependency ratio and elderly dependency ratio.On the basis of the data survey on the purchase of life insurance by national urban families,by constructing the corresponding measurement model,this paper makes an empirical analysis on the factors of China’s urban families’ demand for savings life insurance in recent years,and obtains the results of the impact of urban family population structure on the demand for savings life insurance.Combined with the current situation of Chinese urban family population structure,Put forward countermeasures and suggestions for the problems exposed in the development of savings life insurance.The research shows that the old age,child dependency ratio and family size have a significant negative impact on the demand for savings-type life insurance of urban households in my country.At the same time,the old-age dependency ratio also has a significant negative impact on the premiums of my country’s household savings-type life insurance,while the child dependency ratio and family size have no significant impact on the premiums of my country’s household savings-type life insurance.After re-testing by region and income group,each variable shows significant differences in demand for savings-type life insurance and depth of participation.