The life security system for Chinese families in compliance with the family planning policy

Abstract

Purpose

During the early 1970s, faced with the serious demographic situation, China began to fully implement the policy of family planning in urban and rural regions. Nowadays, the problems of pension and medical care for aged parents confronted by the first generation of the one‐child family have begun to gradually appear. Meanwhile, China's population and the family planning are also faced with some problems that are difficult to solve, including unbalanced fertility rate of urban and rural population, the gender imbalance, the difficulty of the risk diversification in a one‐child family, as well as the profound contradiction between the stability of the family planning policy and the drive of administrative measures. Therefore, it is necessary to establish the integrated‐scheduled life security system of the one‐child family in urban and rural areas, in order to overcome the problems and to promote the transformation of the family planning policy. The purpose of this paper is to discuss the life security system for China's one‐child families.

Design/methodology/approach

The life security system for the one‐child family proposed by this paper consists of three issues: the basic security based on the level of social security, the additional security of the policy insurance and the supplementary security of the commercial insurance. The paper begins with the history of the family planning policy in the first section and then go through some relevant articles regarding complementary measures such as maternity insurance, rural endowment insurance that only focused on one aspect of issues associated with the family planning. In section three, four typical problems are listed for the purpose of following discussion of corresponding solutions which are full of deficiency in section four. In part five, the integrated planning of the life security system for Chinese one‐child family is elaborated with risk and fund management. In the last part, we conclude that the family planning policy maintains stable, whereas measures to be taken are adjusted along with changeable new problems.

Findings

The policy insurance plays an increasingly important role in dealing with the life security of older people in one‐child families. It may be better to promote the kind of insurance.

Originality/value

The paper comprehensively discusses the life security system for Chinese families in compliance with the family planning policy.

Citation

Wang, G. and Su, X. (2012), "The life security system for Chinese families in compliance with the family planning policy", Journal of Risk Finance, Vol. 13 No. 3, pp. 240-261. https://doi.org/10.1108/15265941211229253