The difference between commercial endowment insurance and social security is as follows.

When it comes to endowment insurance, many people first think of endowment insurance in social security, but recently, commercial endowment insurance has attracted more and more attention. So what's the difference between social security pension and commercial pension? Let's look at the specific differences.

The difference between commercial endowment insurance and social security

1, security object

Social security and old-age insurance have a wide range of protection objects and a more universal scope of application; Commercial endowment insurance is more aimed at high-income people.

2. Scope of protection

Social security endowment insurance provides comprehensive protection in pension, medical expenses and maternity allowance; The coverage of commercial endowment insurance is more flexible and can be adjusted according to the needs of the insured.

3, the way of protection

The payment method, payment ratio and payment base of social security endowment insurance are all stipulated by the government, and there is no choice; Commercial endowment insurance is relatively free, and the insured can choose according to their own wishes.

4. Payment amount

The payment amount of commercial pension financial products is fixed, the social security pension policy changes every year, and the payment base also changes frequently.

5. Collection amount

For commercial endowment insurance products, determine the form of the return amount contract and determine the amount returned at each age. It's just that the interest rate of the additional universal account is uncertain, but there is a guaranteed interest rate, so you can know the minimum amount. The amount of social security is uncertain, and how much money you can get after retirement is also uncertain.

6. Different purposes

Social endowment insurance is not for profit, its starting point is to protect the basic life of workers in their later years, maintain social stability and promote economic development, while the fundamental purpose of commercial insurance is to obtain profits, on this premise, to give the insured certain economic compensation.

Therefore, commercial endowment insurance and social security are different in all aspects, and there are great differences. Everyone can choose different products and services according to their own needs and conditions.