Can insurance companies buy social security?

Of course, endowment insurance can be divided into social security and commercial insurance. The endowment insurance included in social security is the minimum insurance guarantee under the overall planning of the state, covering basically urban residents, workers and rural villagers. The endowment insurance of commercial insurance is purchased voluntarily by individuals according to their own economic strength.

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