Abstract：
It is generally believed that commercial endowment insurance has a higher level of guarantee and the advantages that other endowment insurance systems lack. Analyzed with the framework of time value of money and theory of transaction costs, from the perspective of endowment insurance buyer, the ratio of input to output of the current commercial endowment insurance is low, the relative level guarantee is low, less than half of the insurance premium paid by the investors and the investment yield calculated by the interest rate of commercial bank deposits is used for the guarantee of the insured. This can be attributed to the commission paid to the insurance sellers by insurance companies.
2012 
