The Impact of Commercial Insurance on Household Risk Financial Asset Allocation-Study Based on CHFS Data

With the rapid development of the residential household financial market and the strengthening of people's risk awareness, people's willingness to participate in risky financial asset allocation has gradually increased. At the same time, commercial insurance in China has developed rapidly in recent years and has great potential for development. Based on data from the China Household Financial Survey Project (CHFS) 2019, this paper explores the impact of commercial insurance on households' allocation of risky financial assets. By building a logit model for empirical analysis, the study finds that households who purchase commercial insurance are more likely to allocate risky financial assets, and at the same time, based on the findings of this study, this paper puts forward relevant suggestions from both the government, commercial insurance institutions and households themselves Based on the findings of this study, this paper proposes recommendations to promote the development of commercial insurance in the household financial market.