Family Life Cycle, Asset Portfolio, and Commercial Health Insurance Demand in China.

Ling Tian, Haisong Dong
Author Information
  1. Ling Tian: School of Economics and Management, Wuhan University, Wuhan 430072, China.
  2. Haisong Dong: School of Economics and Management, Wuhan University, Wuhan 430072, China. ORCID

Abstract

Based on the cross-sectional data of the China household finance survey (CHFS) in 2017, this paper aims to empirically examine the effects of the family life cycle, financial status, and asset portfolio on commercial health insurance demand (breadth and depth) by constructing Probit and Tobit models, respectively. Based on all of the samples, it has been found that family life cycle, family financial status, and family asset portfolio have different influences on the breadth and the depth of health insurance. In terms of the family life cycle, there is an "inverted U-shaped" relationship with the breadth and the depth of health insurance, and the effect is obvious. In terms of family financial status, total household consumption has positive and significant effects on the breadth and depth of health insurance. Total household income and total household debt only have a significant positive impact on health insurance breadth. The total household asset portfolio is only positively correlated with health insurance depth. In terms of the family asset portfolio, the share of real estate assets has a crowding out effect on the breadth and the depth of health insurance. The share of savings assets has no significant effect on the breadth and the depth of health insurance but is positively correlated with the former and negatively correlated with the latter. Both the share of vehicle assets and the share of investment assets only have a significant impact on the breadth of health insurance; however, the positive and negative correlation is different. Based on the sub-samples, it has been found that the breadth and the depth of health insurance vary greatly in the regions and household registration characteristics.

Keywords

References

  1. J Monet Econ. 2016 Jun;80:17-34 [PMID: 27766005]
  2. Int J Environ Res Public Health. 2017 Dec 22;15(1): [PMID: 29271906]
  3. Front Public Health. 2021 Aug 12;9:725608 [PMID: 34458230]
  4. Front Public Health. 2022 Jul 08;10:907124 [PMID: 35899171]

MeSH Term

Cross-Sectional Studies
Insurance, Health
Income
China
Family

Word Cloud

Created with Highcharts 10.0.0healthinsurancefamilybreadthdepthhouseholdassetportfoliolifecyclesignificantshareassetsBasedChinafinancialstatustermseffecttotalpositivecorrelatedeffectscommercialdemandfounddifferentimpactpositivelycross-sectionaldatafinancesurveyCHFS2017paperaimsempiricallyexamineconstructingProbitTobitmodelsrespectivelysamplesinfluences"invertedU-shaped"relationshipobviousconsumptionTotalincomedebtrealestatecrowdingsavingsformernegativelylattervehicleinvestmenthowevernegativecorrelationsub-samplesvarygreatlyregionsregistrationcharacteristicsFamilyLifeCycleAssetPortfolioCommercialHealthInsuranceDemand

Similar Articles

Cited By