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What's the difference between social security and endowment insurance?
The difference between social insurance and endowment insurance: social insurance refers to social insurance systems such as basic endowment insurance, basic medical insurance, work injury insurance, unemployment insurance and maternity insurance; Endowment insurance refers to a social insurance system established by the state to solve the basic life of workers who reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age.
legal ground
Article 2 of People's Republic of China (PRC) Social Insurance Law
The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.
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