What are the basic characteristics of social insurance?

Basic characteristics of social insurance:

1) mandatory. The state adopts legislation to force qualified employers and workers to participate in social insurance according to law. Workers who meet certain conditions can enjoy social insurance benefits according to law.

2) help each other. Social insurance implements mutual assistance and mutual assistance. According to the law of large numbers, funds are raised and used uniformly in the whole society, and the burden is balanced and risks are dispersed by the strength of the whole society. The greater the coverage of social insurance, the stronger the ability to resist risks.

3) welfare. Social insurance agencies engage in non-profit business activities. As a social undertaking implemented by the state, social insurance has only one purpose, which is to effectively protect the basic life of the insured.