Is social security endowment insurance?

Social security and endowment insurance are different, and their definitions are also different: endowment insurance refers to a kind of social insurance established by the state to deal with the basic livelihood of employees after they have eliminated their work responsibilities beyond the working age limit stipulated by the state, or because of old age, work injury and other reasons, according to national laws, policies and regulations, and according to the development of the country and society. Personal social security is the general name of social insurance, which refers to five kinds of insurance: endowment insurance, medical insurance, maternity insurance, unemployment insurance and industrial injury insurance.

The contents of the two are different: social insurance includes endowment insurance, but it is not limited to endowment insurance, which is only one of the five types of social insurance. Usually, when people buy social insurance, they will include endowment insurance, but when they buy single endowment insurance, they will not include medical insurance.

The purpose of the two is different: the key goal of purchasing endowment insurance is to ensure the basic life after old age. The purchase of personal social security can not only ensure the basic life after old age, but also ensure the basic medical and health services, and ensure the basic life during laid-off and industrial accidents.

Payment methods are different: personal social security is generally paid according to the enterprise, which is incompatible with my current purchase. Endowment insurance, generally speaking, refers to the endowment insurance in personal social security and is included in social security. But the old-age insurance is suitable for my own purchase.

Wages are different: paying personal social security can enjoy medical insurance reimbursement wages, maternity reimbursement and unemployment benefits, but paying old-age insurance alone can't enjoy this. Self-payment of endowment insurance may be commercial insurance for urban residents. Old-age insurance for urban residents is paid annually, from several hundred to several thousand yuan each year. Personal social security is paid on a monthly basis, and receiving retirement pension at retirement is also higher than urban residents' pension insurance.