What's the difference between social security and endowment insurance?

Different concepts have different purposes. Social security refers to a social and economic system that provides income or compensation for people who have lost their ability to work, are temporarily unemployed or suffer losses due to health reasons. Its main function is to obtain certain compensation when the insured loses his labor income due to various reasons such as old age, unemployment, maternity and illness. Old-age insurance is the behavior of the state and society to terminate labor obligations when workers reach the working age limit according to certain laws and regulations. The purpose is to protect the basic living needs of the elderly and provide them with a stable and reliable source of life.