Analysis on the Change Trends of Chinese Individual Life Insurance Purchase Rate

According to the data on customers' insurance policy information from a big Chinese life insurance company,this paper analyzes the purchase rate change trend of term life insurance,whole life insurance, endowment life insurance and annuity life insurance at different ages. The result shows that Chinese life insurance demand has a significant rule in whole life cycle and displays stage trend. The whole life process could be cut into 6 periods by ages. The change trends on demand of different type of life insurance products in terms of ages are very diversified. The interference of product policy had more effects on life insurance demand. The type of accident risk is an important factor for difference of life insurance demand. The children's life insurance demand is raised much by outside powers. There is a bigger dropout risk of children's common whole life insurance product and bonus life insurance product. It should be prudent to explore the market of children group for these two types of products. The similarity of product promotes life insurance demands. However,it does not lead to the great rise of demand. It is suggested that the supplier of life insurance pay more attention to raising consumers' welfare promotion of products' security function.