What's the difference between commercial insurance and social security?

The object of social insurance is workers, which is determined based on labor relations in China, and only workers can participate. Commercial insurance is open to anyone, and it is based on commercial contract relationship.

2. The basic attributes are different.

Social insurance, with the nature of social security, is the social responsibility undertaken by the state to workers and belongs to non-profit and public welfare services. Commercial insurance is for profit, and it is commercial, operational and financial.

3. The subjects of insurance premium burden are different.

The premium of social insurance comes from many levels and aspects, and the state, enterprises and individuals have to bear part of it, and the whole society has a unified standard. The premium of commercial insurance comes from the payment of the insured, and the rates of different insurance companies are different.

4. The compulsory nature of insurance principle is different.

The state implements the compulsory principle of social insurance, aiming at providing material help to workers and ensuring social security. Commercial insurance follows the principle of voluntariness. The so-called "more investment and more insurance, less investment and less insurance, no investment and no insurance" emphasizes equal exchange.

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