权益指数年金产品设计及风险管理研究

发布时间：2018-03-22 06:04

本文选题：权益指数年金　切入点：定价模型　出处：《南开大学》2013年硕士论文　论文类型：学位论文

【摘要】：随着我国计划生育政策的持续实施、生活水平的不断改善和医疗科技的快速发展,我国人口的出生率和死亡率不断下降,人均寿命不断提高,老龄化现象日趋严峻,应对老龄化已经成为我国经济社会发展的重要课题。虽然目前我国有政府主导的基本养老保险制度和企业主导的企业年金制度,但这些制度下的养老保障程度相对较低,不能满足人民日益增长的养老财务规划需求。因此,商业养老保险特别是年金保险的需求缺口巨大,开发出满足人民需求的年金保险产品具有重要的现实意义。权益指数年金产品作为一款在欧美市场比较成熟的年金产品,其设计形式一般与资本市场上的某个指数标的连接,具有在保证投保人本金安全的前提下与投保人共享资本市场改革发展成果的特点,能在一定程度上帮助投保人抵抗长寿风险、通货膨胀风险和投资风险,深受投保人的喜爱,但目前我国寿险市场上无该种类型产品。鉴于此,本文希望通过系统梳理权益指数年金保险产品定价模型和风险管理对策理论方法,在充分吸收借鉴发达保险市场发展权益指数年金保险产品理论和实践中经验的基础上,从理论上推导了点对点和年度重设情形下的五种定价模型,从精算实务的角度设计出一款权益指数年金产品,并提供相应的风险管理策略,以对权益指数年金产品设计和风险管理做一些有益尝试,为我国实施权益指数年金产品开发提供参考。最后,提出了我国实施权益指数年金的策略及以后研究的相关建议。
[Abstract]:With the continuous implementation of China's family planning policy, the continuous improvement of living standards and the rapid development of medical science and technology, the birth and death rates of the population in our country are declining, life expectancy per capita is increasing, and the phenomenon of aging is becoming increasingly serious. Coping with aging has become an important issue in China's economic and social development. Although China has a government-led basic old-age insurance system and an enterprise-led enterprise annuity system, the degree of old-age security under these systems is relatively low. Therefore, the demand gap of commercial pension insurance, especially annuity insurance, is huge, so it is of great practical significance to develop annuity insurance products to meet the needs of the people. As a mature annuity product in the European and American markets, the equity index annuity product is generally designed to be connected with a certain index target in the capital market. It has the characteristics of sharing the fruits of capital market reform and development with the policy holder on the premise of ensuring the safety of the principal of the policy holder, and can help the policy holder to resist longevity risk, inflation risk and investment risk to a certain extent, which is deeply loved by the policy holder. However, there is no such kind of product in the life insurance market of our country at present. In view of this, this paper hopes to systematically comb the pricing model of equity index annuity insurance products and the theoretical methods of risk management countermeasures. On the basis of absorbing the experience of the developed insurance market in the theory and practice of the development equity index annuity insurance products, five pricing models are derived theoretically under the situation of point-to-point and annual resetting. An equity index annuity product is designed from the angle of actuarial practice, and the corresponding risk management strategy is provided in order to make some beneficial attempts on the equity index annuity product design and risk management. This paper provides a reference for the development of equity index annuity products in China. Finally, the paper puts forward the strategy of implementing equity index annuity in China and the relevant suggestions for future research.
【学位授予单位】：南开大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F842.67

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