Is commercial insurance five risks?

Commercial insurance is not five risks.

I. Overview of Five Risks

Five insurances are an important part of China's social insurance system, aiming at providing comprehensive social security for workers. According to the Social Insurance Law of People's Republic of China (PRC), all employers and workers must participate in social insurance and pay social insurance premiums according to law. The payment ratio and base of the five insurances shall be stipulated by the state and local governments, and adjusted in time according to the economic development.

Second, the definition and characteristics of commercial insurance

Commercial insurance is a commercial insurance product provided by insurance companies. Unlike the five insurances, it is not compulsory, but is purchased by the insured voluntarily. Commercial insurance covers a wide range of types of insurance, including property loss insurance, liability insurance, credit insurance, personal insurance and many other categories. The insured can choose the insurance products suitable for them according to their own needs and risk tolerance. The premium and insured amount of commercial insurance are usually determined according to the design of insurance products, the risk status of the insured and other factors, which has great flexibility.

Third, the difference between five risks and commercial insurance

1. nature of insurance: the five risks are statutory social insurance and mandatory; Commercial insurance is a voluntary commercial insurance, which is not compulsory.

2. Insurance protection: The five insurances mainly cover the basic living security needs of workers; Commercial insurance covers many fields and can be customized according to the needs of the insured.

3. Premiums and insured amount: The premiums and insured amount of the five risks are stipulated by the state; The premium and insured amount of commercial insurance are determined according to the design of insurance products, the risk status of the insured and other factors.

To sum up:

Commercial insurance is not five risks, but there are obvious differences in the nature, scope, premium and amount of insurance. Five insurances are legal social insurance, which aims to provide basic living security for workers; Commercial insurance is voluntary commercial insurance, which can be customized according to the needs of the insured and has great flexibility. When choosing insurance products, the insured should weigh and choose according to their own needs and risk tolerance.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 2 provides that:

The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.

People's Republic of China (PRC) insurance law

Article 6 provides that:

Insurance business is operated by insurance companies established in accordance with this Law and other insurance organizations as stipulated by laws and administrative regulations. No other unit or individual may engage in insurance business.