I am 68 years old and want to buy old-age insurance. Can I still buy it? Where can I buy it? How much does it cost to be effective? What other formalities do you need to go through?

Anyone who can be insured before retirement age.

At present, the legal retirement age in China is 60 for men and 55 for women.

First of all, there are two ways to handle social security:

(-) To pay in the name of an individual, it is necessary to apply to the social security bureau where the household registration is located. Insurance procedures include: my ID card, two recent bareheaded one-inch photos, insurance premium, application form, etc.

And can only apply for pension and medical insurance.

The amount of social security payment is calculated according to the local social wage of the previous year, which is different every year.

For example, the average salary of a prefecture-level city is 20,000, then the pension insurance payment is 20,000 * 20% = about 4,000/year, and the medical care is 20,000 *10% = about 2,000/year.

(two) or to participate in insurance in the form of units.

It is a foreign hukou, and social security can only be purchased through the unit.

In addition, if you apply for social security, it is best to pay it by the unit, because the unit will bear a large part of the expenses for us, thus reducing the pressure of paying.

Moreover, the unit model can be insured with 5 insurances 1 gold, and the individual model can only be insured with pension and medical care.

Secondly, both commercial insurance and social security are nationally recognized insurance.

Third, commercial insurance is based on insurance companies, which are responsible for their own profits and losses and operate independently. It has little to do with social security and the state as the main body

Of course, social security is guaranteed, and the re-insurance of commercial insurance is an effective supplement to social security.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.