Which is better, social endowment insurance or commercial endowment insurance?

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Commercial old-age insurance and social old-age insurance can provide protection for the elderly in their later years. The former can be said to be a supplement to the latter, but if they are bought together, they can play a complementary role. And many people also want to know what are the similarities and differences between commercial endowment insurance and social endowment insurance? The details are as follows: Commercial endowment insurance product information

1, with different properties.

Social endowment insurance is enforced by national legislation and belongs to government behavior. Commercial insurance belongs to the nature of enterprises and is a kind of commercial behavior.

2. Different purposes

Social endowment insurance is not for profit, its starting point is to protect the basic life of workers in their later years, maintain social stability and promote economic development, while the fundamental purpose of commercial insurance is to obtain profits, on this premise, to give the insured certain economic compensation.

3. Different sources of funds

Social insurance is shared by the state, employers and individuals, and commercial insurance is entirely borne by the insured.

4. Different responsibilities

Social insurance is the basic right enjoyed by citizens, and the government bears the ultimate responsibility for social insurance, while commercial insurance will be restricted by the market competition mechanism, and the government mainly supervises commercial insurance according to law.

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