Commercial Insurance Allocation for Mid-High Net Worth Families

This chapter analyzes the allocation of commercial insurance for mid-high net worth households. The results show that households in urban areas have greater commercial insurance coverage than those in rural areas; the higher the educational level of the heads of mid-high net worth families and non mid-high net worth families, the higher the commercial insurance coverage rate of the family; the average amount of per capita expenditure on commercial insurance for both mid-high net worth households and non mid-high net worth households decreases as the number of household members increases; mid-high net worth households invest more money in commercial insurance allocation and demand more commercial insurance coverage. For every 1% increase in household investable assets, household commercial insurance spending will increase by about 48 yuan. Mid-high net worth households increased their commercial insurance participation by 0.409 units compared with non mid-high net worth households.