| 英文摘要 |
Life tables are a critical basis for actuarial pricing in life insurance. Following the switch to Life Table-2023 in China, prices for life insurance products insuring mortality risk have generally decreased to varying degrees, while prices for products covering survival risk have increased to different extents. Prices of term life insurance product have seen the largest decrease, approaching 50%, whereas prices of deferred whole life annuity product have risen the highest by nearly 30%. The price increase for various deferred annuity insurance products is higher than for non-deferred life insurance products. The reduction in assumed interest rate has a greater impact on the prices of cash value life insurance products than the decrease in mortality rates. Even small changes in assumed interest rate can cause significant price volatility in cash value life insurance products. The prices of high-leverage life insurance products, such as term life insurance products, are more affected by changes in mortality rates. The switch to Life Table-2023 is expected to exert a significant price leverage effect on various life insurance products. However, the actual price changes of life insurance products are influenced by multiple factors, and it remains uncertain whether these pricing mechanism effects will result in substantial market impacts. The use of region-specific life tables might lead to some cross-regional consumption, although it is unlikely to become a mainstream market trend. In the future, the cost of managing retirement risks in China is expected to rise, exacerbating the burden on social retirement systems. |
本站僅提供期刊文獻檢索。
