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Influence Factors of Attitude of Offspring on the Demand for Housing Reverse Mortgage Endowment Insurance in China

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DOI: 10.23977/ferm.2020.030103 | Downloads: 57 | Views: 3172

Author(s)

Yue Zhang 1

Affiliation(s)

1 School of Insurance, University of International Business and Economics, Beijing, 100029, China

Corresponding Author

Yue Zhang

ABSTRACT

Based on the Logistic model and the survey data of residents in gansu China, this paper made an empirical analysis on the influencing factors of their the elderly' willingness to participate in the reverse mortgage endowment insurance from four aspects including the characteristics of residents, economic status, cognition of this insurance and traditional social concepts. The results show that offspring's age, number of siblings, education level, the elderly' marital status, the elderly' physical condition, offspring's monthly income, offspring's monthly expenditure, offspring's occupation type, offspring's cognition of this insurance, the number of houses owned by the elderly, the willingness of offspring to participate in this insurance are significant influencing factors for offspring to choose whether to support their the elderly to participate in housing reverse mortgage endowment insurance. Combined with the research results, the characteristics of potential demand customer groups for the insurance companies to carry out the housing reverse mortgage endowment insurance business were determined, and the policy Suggestions were put forward: strengthening the scientific publicity of the housing reverse mortgage endowment insurance; The government provides security, improves relevant laws and regulations, and establishes and improves the implementation system of housing reverse mortgage endowment insurance. The insurance company designs products reasonably and flexibly.

KEYWORDS

Housing reverse mortgage endowment insurance; Demand influencing factors; Child attitude; Logistic model

CITE THIS PAPER

Yue Zhang Influence Factors of Attitude of Offspring on the Demand for Housing Reverse Mortgage Endowment Insurance in China. Financial Engineering and Risk Management (2020) 3: 23-30. DOI: http://dx.doi.org/10.23977/ferm.2020.030103.

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