多子女与家庭商业保险:利他抑或投资?

The Number of Children and Household Commercial Insurance Purchases:Altruism or Investment?

本文基于2015年和2017年中国家庭金融调查(CHFS)数据,探讨了家庭子女数量对家庭商业保险参与行为的影响。结果发现,子女数量对于家庭商业保险参与具有显著的促进作用,家庭养育子女存在较强的利他动机。机制分析发现,子女数量增多会造成家庭经济脆弱性的增加,进而提升了家庭对于商业保险的需求。异质性分析结果表明,相较于商业健康保险,子女数量对于家庭购买人寿保险的促进作用更明显;此外,对于工作在“体制外”的家庭、不与老人同住以及社会资本低的家庭,由于这类家庭相对面临的家庭经济脆弱性更大,因此子女数量对于其参与商业保险的促进作用更明显;而对于父母“利他动机”较强的家庭,子女数量对于这些家庭参与商业保险的促进作用更明显。最后,通过采用Heckman二阶段模型和外生冲击模型进行稳健性检验后,本文结论依然成立。

Based on the data of China Household Finance Survey(CHFS)in 2015 and 2017, this paper discusses the impact of the number of children on household commercial insurance purchase.The result shows that the number of children has a positive effect on the household commercial insurance purchase, which means that there is a strong altruistic motive for family parenting.The mechanism analysis shows that the possible mechanism includes the household financial vulnerability.According to the heterogeneity analysis, compared with commercial health insurance, the number of children has a stronger effect on the family’s purchase of life insurance.In addition, for families with non-public jobs, those who don’t live with the elderly, and those with low social capital, the number of children plays a stronger role in promoting their participation in commercial insurance because such families face greater financial vulnerability.The results are still robust with substituting key explanatory variables, adapting Heckman two-stage model and exogenous shock model.