The company asked us to sign a waiver of insurance rights. Is this statement true?

It is invalid that employees voluntarily give up paying social insurance. The main reason is that according to Article 72 of the Labor Law of People's Republic of China (PRC), "employers and workers must participate in social insurance and pay social insurance premiums according to law." Participating in social insurance and paying social insurance premiums are both legal obligations of employers and workers. Neither party has the right to choose not to pay social insurance. Laborers can give up their rights, but they cannot give up their legal obligations. The exemption clause in the Statement of Voluntary Abandonment of Social Insurance signed by employees at the time of employment is invalid because it violates the mandatory provisions of the above-mentioned laws. You can ask the unit to pay social security.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.