The implementation of family planning policy since the 1970s plays a certain positive role in the population control and social development to acertain degree, however, this policy increases the living risk of some families and the number of the elderly parents who lost their only child is increasing. This paper studies the living situation of the elderly parents who lost their only child based on the survey, finds that the majority of the elderly parents are in the predicament such as deteriorating economic conditions, general depression in mind, declining healthy conditions and closed interpersonal communication, as a result, there is ubiquitously urgent demand in the perspective of living aid, social security, medical care and spiritual comfort etc. Currently, Chinese Government’s aiding policies relatively lag behind and have many problems such as low aiding standard, narrow supportive covering area, simple aiding forms and so on. In order to meet the basic living demand of the elderly parents, social welfare policies must be designed and perfected from the perspective of economic support, living care, spiritual conform and so on.