摘要
随着人民生活水平的提高，保险的风险管理职能和财富管理职能在家庭资产配置中
发挥出越来越重要的作用。然而，目前我国大部分家庭存在保险资产配置不足这一问题，
居民对保险产品的需求存在严重缺口,大多数家庭仅持有社会保险，极少家庭持有商业保
险，且家庭保险产品的保费支出在家庭总收入中的占比极低。造成这一现象的原因可能
是居民保险意识薄弱，对保险的认知存在一定偏差，并未真正认识到保险产品所具有的
价值。由于对保险本质的认知和理解需要具备一定的专业素养，缺乏相关金融知识将会
导致居民家庭对保险产品产生错误认知，从而降低其对于保险产品的需求。根据西南财
经大学中国家庭金融调查 2017年的数据，我国居民的金融知识回答情况不容乐观，且
较少家庭关注经济金融信息。作为人力资本的重要组成部分，金融素养水平的高低会在
一定程度上影响保险资产配置的有效性。户主作为家庭经济来源的主要承担者和家庭主
事者，户主金融素养水平与家庭保险资产配置之间有着紧密联系。
本文使用西南财经大学中国家庭金融调查 2013年、2015年和 2017年的数据，以金
融素养为切入点，以家庭中的主要决策者 ----户主为研究对象，运用因子分析法测度户
主金融素养水平。随后，本文分别使用 Probit模型和 Tobit模型研究户主金融素养对家
庭保险持有和家庭保费支出占比之间的关系，并具体分析了城乡和地区的不同在户主金
融素养影响家庭商业保险资产配置中发挥的作用。相关实证结果显示：(1)户主金融素养
水平的提高对家庭社会保险持有和商业保险持有均具有显著正向影响；(2)户主金融素养
水平的提升对家庭社会保费支出占比和商业保费支出占比均有显著正向影响；(3)户主金
融素养水平影响家庭保险持有的过程中存在收入机制，户主金融素养水平影响家庭保费
支出占比的过程中存在收入机制和风险态度机制。通过上述实证研究，本文为保险行业
的发展以及家庭保险资产配置结构的进一步优化提供相应的政策建议，提倡政府应多渠
道普及金融知识、重视城乡地区差异、健全金融消费者维权机构；保险机构应树立诚信
形象、简化保险理赔流程、推动保险服务进一步创新。
关键词：金融素养，保险资产配置，金融技能，风险态度
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ABSTRACT
With the improvement of people's living standard, the risk management function and wealth
management function of insurance are playing an increasingly important role in family asset
allocation. At present, most families in China have the problem of insufficient insurance asset
allocation, and there is a serious gap in residents' demand for insurance products. Most
families only hold social insurance, and a few of families hold commercial insurance. The
premium expenditure accounts for a little proportion of family income. The reason for this
phenomenon may be that residents have a weak awareness of insurance and certain deviation
in their cognition of insurance, and don't really realize the value of insurance products.
Because the cognition of the nature of insurance requires certain professional accomplishment,
the lack of relevant financial knowledge will lead to the wrong perception of the insurance
products, thus reducing their demand for insurance products. According to the data of China
Household Finance Survey of Southwestern University in 2017, the financial knowledge of
Chinese residents is deficient, and few families pay attention to economic and financial
information. As an important part of human capital, the level of financial literacy will affect
the effectiveness of insurance asset allocation to a certain extent. As the main undertaker and
header of the family's economic resources, there is a close relationship between the financial
literacy level and the allocation of family insurance assets.
This paper uses the data of China Household Finance Survey of Southwestern University in
2013, 2015 and 2017. This paper takes the financial literacy as the entry point, takes the main
decision-maker in the family ---- head of household as the research object, and uses factor
analysis method to measure the financial literacy index of the head of household.
Subsequently, the Probit model and Tobit model were used to study the impact of financial
literacy of householders on the ownership of various insurance products and the proportion of
household premium expenditure, and the role of urban and rural differences and regional
differences in the impact of financial literacy of householders on household commercial
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