年金險保戶違約風險容忍度之研究

A study of annuity insurance policyholders of default risk tolerance

黃惠芳(HUI-FANG HUANG)

指導教授 ： 許可達 ； 張麗娟

朝陽科技大學/管理學院/保險金融管理系/碩士(2010年)

摘要

隨著台灣社會型態改變，台灣人口結構逐漸趨於高齡化，同時伴隨著新生兒出生率逐年降低的現象，導致未來將出現老年人多、年輕人少的社會結構，而此種現象意味著未來為人子女奉養父母的能力，將受到非常大的考驗，也逐漸讓多數國人意識到「養兒防老」的觀念已不適用。加上退休養老時間逐漸拉長，老有所養的經濟依賴已由子女奉養之型態，轉變為逐步趨向自行安排老年經濟生活，以依靠老年給付、退休金或個人年金保險給付為未來退休生活的主要銜接。
由於保險公司之經營範圍已實際擴及整個金融面，但近年金融風暴所帶來的違約風險效應是否會連帶影響消費者對保險公司之信任，或因消費者行為特徵的不同，會在選擇購買年金保險商品前，依其風險容忍程度的高低不同，而有不同的購買決策。
本研究以台中地區保戶為研究對象，總計發放600份問卷，回收有效問卷400份。分析消費者願意接受多少的保費折扣率來承擔保險公司可能存在之違約風險機率，並進一步探討消費者之行為特徵與框架效果對風險容忍度的影響。
本研究結果發現：(一)超過半數的消費者不願意以保費折扣率，來承擔公司的理賠違約風險，少數部分消費者願意在降低61.6%2的保險費率時，來購買具有違約風險的年金保險商品。(二)由實証結果顯示，年齡、教育程度、人身保險單、子女人數、家庭成員、擔心程度、風險態度、購買決策能力、購買決策複雜性、理賠品質與公司財務狀況、違約風險察覺度等消費者特徵因素，對消費者之風險容忍度有顯著的影響。(三)以文字陳述與數字陳述的框架效果對台灣地區消費者的風險容忍度並無顯著的影響。

關鍵字

框架效果 ； 風險容忍度 ； 違約風險 ； 消費者行為

並列摘要

With the change of social environment, the influence of population structure ageing and fertility rate drops, makes the demographic structure getting aging in Taiwan. So the concept of the “Old-age Security Hypothesis” has gone out of date. Specifically, in recent years, most people focus on pension, retire payment, and annuity insurance as their mainly retirement plan.
In recent years, the impact of outbreak of the subprime mortgage result in financial problems like default risk and fluctuation of consumer confidence which influences customer purchasing behavior. Specifically, most people will not only takes into account the default risk on financial institutions, but also focus on insurance companies which is the member in financial environment.
The subjects of this study are life policyholders in Taichung County who are asked to fill out the questionnaires. 600 copies of questionnaires are submitted and 400 of which are collected back as valid ones. The result of the questionnaire is used to analyze the factors which influence the risk tolerance, customer behavior and framing effect by taking default risk into account, which indicates that:
1. Most policyholders choose as a risk averter when the default risk of the insurer is significant Nearly 30% of interviewees accept 61.6% premiums discount in face of default risk. . It indicates that the default risk is an important factor for choosing annuity policies.
2. Most policyholders state that the risk tolerance will apparently differ according to demographic variables, marriage-family condition, risk perception, risk attitude, customer purchasing intention, firm’s ability to service its debts, default risk assessment.
3. The impact of risk tolerance on framing effect is insignificant in Taiwan.

並列關鍵字

Framing effec ； Consumer behavior ； Risk tolerance ； Default risk

參考文獻

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