居民收入的增长促进寿险需求了吗

Does Growth of Residents' Income Promote Demand for Life Insurance?

本文将人寿保险区分为保障型和投资型两类异质产品,梳理并总结出收入对异质寿险需求的三个理论。通过对中国省区2002—2013年面板数据的研究发现:东部地区的保障型寿险收入需求弹性为正,支持"生命价值理论";中部和西部地区的收入需求弹性为负,支持"合约替代理论"。就投资型寿险而言,中西部地区的收入弹性均为正数,支持"财富分配理论",但东部地区收入影响不显著。本研究的政策含义在于,通过收入政策促进地区寿险发展既需要考虑险种差异,也需要考虑地区差异。

Based on the classification of traditional life insurance and investment life insurance, this paper proposes three theo- ry hypotheses- Contract Substitution Theory （CST）, Life Value Theory （LVT） and Wealth Distribution Theory （WDT）. With China＇s panel data in 2002 - 2013, it is found out that traditional life insurance demand elasticity with respect to income in East is positive, in favor of LVT, while the elasticity in the Middle and West area is negative in support of CST. For invest- ment life insurance, the elasticity is positive in the Middle and West area as well as in the whole country, while it is not dra- matic statistically in the East area. The policy implication of this paper is that we have to consider not only the classification of life insurance but also regional differences when applying income policies to promote the development of life insurance.