商业养老保险的保障水平研究

A Research into the Guarantee Level of Commercial Endowment Insurance

一般认为商业性养老保险具有较高的养老保障水平,有其他养老保障体系所不具备的优势。但站在投保者个人理财的角度来看,我国现行商业养老保险的投入产出比较低,相对养老保障水平较低,投保者缴纳的养老保险费及其按银行定期存款利率计算的投资收益不足一半被用于被保险人的养老,这与保险公司支付给保险销售人员的佣金有着重要关系。

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 per- spective 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.