Does commercial insurance belong to social security?

Commercial insurance is not social security. There are several differences between it and social security:

1. Commercial insurance follows the principle of voluntary purchase and establishes the relationship between the two parties by contract. Social security is based on labor relations. As long as labor relations are formed, employers must provide social security for employees, which belongs to the social security system enforced by the state.

2. Commercial insurance is managed by enterprise insurance companies, and social security is managed by government functional departments;

3. Commercial insurance is for profit, while social security is not for profit;

4. The insurance cost of commercial insurance is borne by individuals, and social security is shared by enterprises, individuals and the state.

5. The insured object of commercial insurance is anyone, and the insured object of social security is workers;

6. Commercial insurance is regulated by economic law, commercial insurance law and supporting regulations, and social security is regulated by labor law and supporting regulations.

Commercial insurance and social security are different concepts. Social security is a kind of social security system with wide coverage and low security, which can only meet the basic security needs. Commercial insurance is a form of for-profit insurance operated by concluding insurance contracts, which is operated by specialized insurance enterprises. Commercial insurance relationship is a contractual relationship concluded by the parties voluntarily. The insured pays the insurance premium to the insurance company according to the contract, and the insurance company shall be liable for the property losses caused by the possible accidents agreed in the contract, or the death, disability, illness or reaching the agreed age and time limit of the insured. Therefore, commercial insurance is a supplement to social security, which can make up for the defect of low social security. It is suggested that after purchasing social security, you should consider purchasing commercial insurance that suits you and improve your security.

I hope the above content can help you. Please consult a professional lawyer if you have any other questions.

Legal basis: People's Republic of China (PRC) Social Insurance Law.

Article 2 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 in case of old age, illness, industrial injury, unemployment and maternity.

People's Republic of China (PRC) insurance law

Article 2 The term "insurance" as mentioned in this Law refers to the commercial insurance behavior in which the applicant pays the insurance premium to the insurer in accordance with the contract, and the insurer is liable for the property losses caused by the possible accidents agreed in the contract, or when the insured dies, is disabled or sick, or reaches the age and time limit agreed in the contract.