The Promotion Effect of Commercial Endowment Insurance on Women's Happiness: An Empirical Test based on CGSS Data

Meng Chen; Guangbo Ma

doi:10.54691/sks9mz16

Authors

Meng Chen Anhui University of Finance and Economics, Bengbu, Anhui 233000, China
Guangbo Ma Anhui University of Finance and Economics, Bengbu, Anhui 233000, China

DOI:

https://doi.org/10.54691/sks9mz16

Keywords:

Commercial Endowment Insurance; Women's Happiness; Empirical Test; CGSS Data; Heterogeneous Effect.

Abstract

With the rapid socio-economic development in China, increasing attention has been paid by the Communist Party of China and the state to the enhancement of people's well-being and happiness levels, and people's well-being has been elevated to a strategic position in the report to the 20th National Congress of the Communist Party of China. Based on the 2021 CGSS database, the impact of commercial endowment insurance on women's happiness is investigated in this paper by adopting the ordinary least squares (OLS) method and ordered logit model. Robustness tests are carried out by replacing the regression model and the explained variable, and the heterogeneity of the impact across different groups is explored from the two dimensions of household registration and age. The results demonstrate that a significant promotion effect of commercial endowment insurance on women's happiness is confirmed, that is, women's happiness can be improved by participating in commercial endowment insurance. In addition, the promotion effect of commercial endowment insurance on happiness is proved to be more significant for women with rural household registration and elderly women. These conclusions are helpful for the re-recognition of the functions of commercial endowment insurance, and women's happiness can be further enhanced by encouraging women to purchase commercial endowment insurance.

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