Is long-term insurance social security or commercial insurance?

Long-term insurance, also known as the "sixth insurance" of social security, is a social insurance system, which mainly solves the problem of nursing expenses or services for people who lose their ability to take care of themselves in daily life due to old age, illness or disability. In China, long-term insurance coverage is being piloted. At present, pilot cities include Beijing, Tianjin, Shaanxi (Hanzhong), Shanxi, Liaoning, Inner Mongolia, Fujian and other 14 provinces and cities.

In the pilot stage, long-term care insurance is mainly aimed at the insured population of basic medical insurance for employees, focusing on solving the basic care needs of severely disabled people, and giving priority to ensuring qualified disabled elderly and severely disabled people.