Is endowment insurance the same as social security?

Endowment insurance is different from social security. The specific differences are as follows:

1, different ranges

(1) The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

(2) Endowment insurance includes enterprise annuity and commercial endowment insurance of insurance companies. Generally speaking, endowment insurance refers to the endowment insurance in social security, that is, basic endowment insurance.

2. Different processing entities

(1) According to China's national regulations, the employer must pay all the contributions in proportion to the employee's income. Among them, pension insurance, medical insurance and unemployment insurance are paid by employers and employees in proportion, while work injury and maternity insurance are paid by employers, and employees do not need to pay.

(2) Individuals can only purchase endowment insurance and medical insurance as flexible employees.

3. The fixed number of years and accumulated amount are different.

(1) Endowment insurance and medical insurance in social security include pooling account and individual account, in which individual account can accumulate amount and payment period. After the pension insurance payment reaches 15 years, employees can receive the pension insurance on a monthly basis after retirement.

(2) If it is a commercial endowment insurance in the endowment insurance purchased by individuals, the accumulated amount and payment period are not allowed. After paying a certain premium, the insured of commercial endowment insurance can start to receive pension from a certain age.