What does individual tax deferred commercial endowment insurance mean? Personal tax deferred commercial pension insurance is a kind of commercial pension annuity insurance underwritten by insurance companies. It is mainly for the public who pay personal income tax. When the public buy the commercial pension annuity insurance, the premium paid is allowed to be paid before the tax, and the pension accumulation stage is tax-free. When they receive the pension, they will pay it accordingly, This is also the tax preference mode adopted internationally. Do you understand this explanation?