What types of insurance do the five insurances include?

Five insurances include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. "Five insurances" are legal, including old-age insurance, medical insurance and unemployment insurance. These three insurances are premiums paid jointly by enterprises and individuals, while industrial injury insurance and maternity insurance are entirely borne by enterprises, and individuals do not need to pay them.

1. Social endowment insurance

Establish a social insurance system to solve the basic life of workers after they reach the working age limit stipulated by the state, terminate their labor obligations or quit their jobs because of old age.

2. Medical insurance

It is an insurance to compensate the medical expenses caused by diseases. Social insurance in which employees are provided with necessary medical services or material assistance by society or enterprises due to illness, injury or childbirth.

3. Unemployment insurance

It refers to the system enforced by the state through legislation, and the society sets up a fund to provide material help to workers who have temporarily interrupted their livelihood due to unemployment.

4. Work injury insurance

It refers to a social insurance system in which workers or their survivors suffer from accidental injuries or occupational diseases at work, or under specified special circumstances, resulting in temporary or permanent incapacity to work and death, and the state and society provide material assistance.

5. Maternity insurance

It is a social insurance system that the state and society provide timely living security and material assistance to working women who temporarily stop working because of childbirth.

Legal basis:

Article 2 of People's Republic of China (PRC) Social Insurance Law

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.

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