TITLE:
Risk Attitude, Financial Knowledge and Commercial Life Insurance Needs
AUTHORS:
Jiaying He
KEYWORDS:
Risk Attitude, Financial Knowledge, Commercial Life Insurance
JOURNAL NAME:
Modern Economy,
Vol.11 No.1,
January
22,
2020
ABSTRACT: This paper uses the 2015 China Household Finance
Survey (CHFS) to study the impact of risk attitudes and financial knowledge on
household business life insurance demand from a micro perspective. By
constructing the Probit and Tobit models, it is found that risk-averse families
will reduce the demand for life insurance, and the increase in financial
knowledge will significantly increase the participation and depth of family
life insurance. It is possible to purchase commercial life insurance, and its
life insurance premium expenditure industry is more. Finally, this article puts
forward suggestions for promoting the development of China’s commercial life
insurance from the perspective of popularizing financial knowledge and
providing different insurance products for different risk attitudes.