A Study on the Design and Pricing of Adolescent Mental Health Insurance Products Based on Adjusted Rates

In recent years, with the frequent occurrence of adolescent suicide, the topic of adolescent mental health has attracted special attention. The insurance products against this risk need to be studied. In this paper, based on an investigation of students and parents in five junior and senior high schools in Shandong Province, we design the adolescent mental health insurance product that meets the market demand and design additional insurance to protect against the risk induced by sudden accidents. The premium pricing system based on mental health status (MHSBI) is constructed with adjusted rates. The total premiums are in line with the applicants’ willingness to pay. This paper improves the deficiencies of insurance research about adolescent mental health, and provides theoretical support for the introduction of such insurance products.