What are the advantages and disadvantages of social security and commercial insurance?

●Social security payments increase every year, while commercial insurance payments are fixed.

●Social security pension has no beneficiary, if there is an accident in the middle, the money paid may be more than the money received, while the commercial insurance, no matter what the situation, is guaranteed to take more than the money paid, and even if you don't receive the required number of years, your descendants can inherit a large sum of money from the death benefit.

●Social health insurance cannot waive premiums, and in the event of a major illness, social health insurance will need to continue to pay, while commercial insurance has a waiver function, whereby the insurance company pays the rest of the premiums on behalf of the insurer!

●Social health insurance is limited, there are a lot of uninsurable responsibilities, such as certain drugs (new drugs, imported drugs, expensive drugs, etc.) and some diagnostic and treatment items are not within the scope of reimbursement, such as traffic accidents, injuries caused by food poisoning, injuries caused by medical malpractice or other liabilities, vital organ transplants, etc. are not covered, and commercial insurance can be reimbursed at 100 percent of the amount of the coverage, and there are also allowance-type insurance to make up for the illness. And there are also allowance-type insurance to make up for the loss of income and part of the medical expenses caused by sick leave!

●Social health insurance is an after-the-fact reimbursement (i.e., reimbursement can only be made after discharge from the hospital), with a threshold fee (i.e., a deductible, below which no reimbursement will be made), and a ceiling (a certain percentage of reimbursement will be made for the exceeding portion of the deductible), while commercial insurance will provide reimbursement for the diagnosis of a major disease agreed upon in the contract with a diagnostic certificate from the hospital, and the amount of the coverage is paid out no matter how many times you have paid for it, providing a better solution for the insured person. This provides a valuable financial basis for the insured to choose better medical equipments/drugs/services to get better medical results, and even to increase the chances of survival!

●Social pension insurance can only meet the needs of the minimum standard of living, and the future of the annual receipt is uncertain, if not before the receipt of the accidental death, can only get back the money in the personal account and funeral expenses, pensions, and no other compensation; and commercial insurance to receive how much by their own decision, and is certain to receive so much, and dividends against inflation, so that their own old age live a more Even if the insured person dies, not only the remaining premiums paid by the insurance company, but also by the family to continue to receive pension!

To be more specific, it is: the biggest difference is that social security is a national welfare nature; commercial insurance is private! The biggest difference between the two is the different coverage. Social security is more complex, the degree of protection also varies greatly according to the specific circumstances, but in the life of the protection is more insufficient.