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What is the correct understanding of social insurance?

Social security is the abbreviation of social insurance. Social security is compulsory, that is, both employers and individuals need to pay. Social security is currently divided into: old-age insurance, medical insurance, maternity insurance, industrial injury insurance and unemployment insurance. The role of social insurance lies in: providing for the old, getting medical care for the sick, getting medical care for the sick, getting medical care for the injured, and losing income.

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