Is it better to buy social insurance or commercial insurance?

Each has its own advantages and should be chosen according to individual circumstances. Social insurance is more comprehensive. Social insurance includes pension insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance, which can provide various guarantees for the insured.

Old-age insurance guarantees the basic life of the insured in his later years, such as medical care, work injury, maternity, etc. Therefore, it is obvious that it is definitely not enough to buy only old-age insurance, and buying social security can better provide insurance for everyone.

Old-age insurance, the full name of social basic old-age insurance, is a social insurance system established by the state and society according to certain laws and regulations for workers to reach the working age limit stipulated by the state to terminate their labor obligations or to retire from their jobs because of old age.

Endowment insurance is an important part of social security system and one of the five most important social insurances. The purpose of endowment insurance is to protect the basic needs of the elderly and provide them with a stable and reliable source of life.

Endowment insurance is a social insurance system established by the state according to the provisions of relevant laws and regulations to solve the basic living problems of workers who reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age. The purpose is to ensure the basic needs of the elderly through social insurance and provide them with a stable and reliable source of life.

Old-age insurance will take effect automatically after the elderly within the legal scope "completely" or "basically" withdraw from social labor life. The so-called "complete" is characterized by the separation of workers from the means of production; The so-called "basic" means that participation in production activities has not become the main content of social life. The legal age limit is a practical measure.

At the same time, the insured can only meet the following two conditions: (1) meeting the retirement conditions stipulated by the state and handling relevant procedures; According to the provisions of the basic old-age insurance premium accumulated payment period of 15, approved by the administrative department of labor and social security, can receive a monthly basic pension and funeral subsidies.

The basic old-age insurance premium is paid by enterprises and insured persons according to different payment ratios. Take Beijing's pension insurance payment ratio as an example: enterprises pay 16% of the total payment base every month, and employees pay 8% of their wages.

Endowment insurance provides basic living security for the elderly and makes them feel safe. With the arrival of the aging population, the proportion of the elderly population is increasing and the number is increasing. Old-age insurance guarantees the basic life of elderly workers, which is equivalent to ensuring the basic life of a considerable number of people in society. For on-the-job employees, participating in endowment insurance means that they have expectations for their future old-age life and are free from worries. In terms of social mentality, more people are stable and less impetuous, which is conducive to social stability.