Influence of Commercial Insurance Purchase on the Health Status of Chinese Residents

Abstract

Under the context of rapid economic and social development, and growing demands for a better life, Chinese residents have been increasingly concerned with their health status and issues. In this study, the internal relations between the purchase of commercial insurance by residents and their health status are analyzed and studied with a polytomous logit model based on the data of Chinese General Social Survey (CGSS) in 2015. According to the research result, purchase of commercial insurance significantly improved the health status of residents, with an improving effect for rural residents apparently better than that among urban residents. In addition, purchase of commercial insurance can promote the health status of residents by increasing their household income. This research will provide an effective reference for the innovative development and medical reform of the commercial insurance of China in the future, which is theoretically and practically significant to the implementation of the Healthy China Strategy.

Research on influences of education and financial literacy on commercial insurance purchase in China

“…In China's insurance market, a large number of investment insurance services, such as dividend insurance and universal insurance, made risk bearers happy to choose. Compared with traditional savings, commercial insurance still has certain risks and people have certain profit opportunities when buying insurance (Li et al, 2021). In theory, the purchase of social security and commercial insurance were substituted for each other, but the regression results of this paper showed that the heads of households with social security were more inclined to purchase insurance for household members.…”

“…Third, although the mediating effect of financial literacy between financial education and financial behavior has been occasionally studied (Son and Park, 2019;Carpena and Zia, 2020;Fan and Zhang, 2021), the mediating effect of financial literacy between education and financial behavior has been occasionally studied (Son and Park, 2019;Carpena and Zia, 2020;Fan and Zhang, 2021), yet the mediating effect of financial literacy between education and financial behavior including commercial insurance purchase is rare. Literature shows that formal education affects financial literacy and commercial insurance purchase (Ankrah Twumasi et al, 2021;Li et al, 2021), and financial literacy impacts commercial insurance purchase (Liu et al, 2023;Duan et al, 2022). Therefore, the mediating effect of financial literacy between education and purchase of commercial insurance might exist, the detection of which will provide a causal mechanism of education on financial insurance purchase, which will enhance the contribution of education in promoting commercial insurance purchase.…”

Study on the Dynamic Relationship between Chinese Residents’ Individual Characteristics and Commercial Health Insurance Demand

“…Therefore, it is urgent to establish and improve a multi-level medical care system to ease the financial burden of the government and provide better health care for people with different needs. To this end, commercial health insurance plays an irreplaceable role in making up for the shortage of basic medical insurance, improving the overall care level, meeting the diversified health care needs of the public, and establishing and improving a multi-level medical care system [ 1 ]. The structural framework of China’s multi-level medical care system is shown in Figure 1 .…”

Influence of Internet Use on Commercial Health Insurance of Chinese Residents

“…Commercial health insurance plays an important role in promoting economic development and maintaining social stability and establishing and improving the multi-level medical security system, as well as improving the health status of residents ( 1 , 2 ), which is an indispensable part of the national medical security system. Lots of policies were successively introduced by the Chinese government to encourage and promote the development of commercial health insurance.…”