The difference between social security and commercial insurance &; What are their advantages and disadvantages?

Social security and commercial insurance are different in nature, types of insurance and payment period. Say it briefly.

And if a friend is still struggling to buy commercial insurance after having social security, take a look at this article: With social security, you don't have to buy commercial insurance?

1. Performance

Social security is a welfare given by the state to citizens, which is essentially non-profit. The conditions for participating in insurance are relaxed and everyone can participate in insurance.

Commercial insurance is profitable, and some products have strict conditions and need to meet the requirements of age and health notification.

2. Insurance coverage

Social security only includes endowment insurance, medical insurance, maternity insurance, industrial injury insurance and unemployment insurance.

The types of commercial insurance will be more abundant, mainly including critical illness insurance, medical insurance, accident insurance, life insurance, annuity insurance, cancer insurance and so on.

Here, my senior has prepared a dry article, which will mention the differences between the four major types of insurance: critical illness insurance, medical insurance, accident insurance and life insurance, and whether there will be conflicts when making claims if you insure at the same time: What are the differences between critical illness insurance, medical insurance, accident insurance and life insurance? Will there be conflicts when making claims?

3. Term of payment

Social security is either paid for one year (residents' social security) or always paid for retirement (employees' social security), and there is no other choice.

There are many options for the payment period of commercial insurance, such as wholesale payment, five-year payment, 10 payment, 15 payment, etc. Allow the insured to choose freely according to their actual situation.

However, how to choose the payment period of commercial insurance so as not to lose money? There is an answer in this article: how to choose the payment period without losing money?

Hope to adopt

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