What is the difference between social endowment insurance and commercial endowment insurance?

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There are five differences between social endowment insurance and commercial endowment insurance:

1, the nature of insurance is different

Social insurance is a national welfare, which aims to provide basic protection for enterprises and employees. It is social security, and commercial endowment insurance is purchased voluntarily. Commercial endowment insurance product information

2. The function of insurance is different.

Social insurance is compulsory and covers a wide range. Its purpose is to provide basic guarantee for employees of enterprises and institutions, which can meet the minimum living guarantee, but can not guarantee high-quality old-age life. Commercial insurance can get some economic compensation, and the supplement of commercial endowment insurance is particularly important for most employees.

3. The relationship between rights and obligations is different.

Social insurance emphasizes that workers must fulfill their social insurance obligations, abide by the labor contract law, fulfill their legal obligations and pay social insurance premiums on time in order to enjoy the benefits and rights endowed by social insurance, and emphasizes the rights and obligations of both the state and workers. Commercial insurance embodies the relationship of responsibilities, rights and obligations between insurance companies and policyholders.

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4. Different degrees of treatment

The expenses paid by social insurance individuals are not directly related to the treatment they enjoy, and they have the nature of social assistance. At present, there are obvious differences in pensions among different groups of people. Generally speaking, institutions >; The pension standards of institutions, enterprises and civil servants are obviously higher than those of other social personnel. Commercial endowment insurance can buy one or more commercial endowment insurance on the basis of social security, which is completely unaffected. In the commercial endowment insurance, the more premiums the insured pays, the more insurance amount he enjoys and the higher the degree of protection he enjoys.

5. Different autonomy and flexibility.

Social insurance will have an impact due to job changes, mainly affecting and restricting payment and payment; Commercial insurance is not affected by job changes or other changes.