Is rural insurance an endowment insurance for urban and rural residents?

Rural insurance is not endowment insurance for urban and rural residents.

Agricultural insurance is a social security system established to solve the old-age problem of rural residents. The purpose is to ensure that rural residents can get a certain pension after retirement and maintain their basic living standards. Agricultural insurance covers mainly rural residents, including farmers and migrant workers.

Payment method of agricultural insurance:

1. Individual voluntary payment: Rural residents can voluntarily choose to pay endowment insurance premiums according to their own economic conditions. The insured person can choose different payment grades to pay according to his own situation.

2. Collective overall payment: the village committee or villagers' group shall pay the endowment insurance premium in a unified way. The villagers' committee or villagers' group may, according to the local actual situation, determine a unified payment standard and payment ratio, and the villagers' committee or villagers' group shall collect and remit the endowment insurance premium.

3. Payment of government subsidies: The government gives certain subsidies to rural residents to pay old-age insurance premiums. According to the local economic development level and the economic situation of rural residents, the government can formulate corresponding subsidy policies to reduce the payment burden of rural residents.

To sum up, rural endowment insurance is a social security system provided by our government for rural residents, aiming at ensuring that rural residents can get a certain pension after retirement. There are some differences between rural insurance and urban residents' old-age insurance in terms of insured objects, payment standards and treatment levels. The payment methods of agricultural insurance mainly include individual voluntary payment, collective overall payment and government subsidy payment.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 96

The state implements the basic old-age insurance system for urban and rural residents.

Article 98

Measures for the implementation of the basic old-age insurance system for urban and rural residents shall be formulated by the administrative department of social insurance of the State Council jointly with relevant departments.