Is social security insurance? What's the difference between it and the insurance of commercial insurance companies?

Social security is a kind of insurance, which is different from commercial insurance in nature, foundation, management system, object and coverage. What's the use of the latest analysis of social security? 》

Difference 1: different in nature

Social insurance is welfare, not profit; Commercial insurance is profitable and aims at pursuing economic benefits.

Difference 2: The foundation is different.

Social insurance is based on labor relations. As long as labor relations are formed, the employer must handle social insurance for employees. Commercial insurance is voluntary insurance, and the rights and obligations of both parties are established in the form of contracts.

Difference 3: The management system is different.

Social insurance is managed by government functional departments; Commercial insurance is operated by an insurance company of enterprise nature.

Difference 4: Different objects.

The object of participating in social insurance is workers, whose scope is stipulated by law and limited by qualification conditions; The object of commercial insurance is a natural person, and the applicant is generally not restricted, as long as he is willing to insure and fulfill the terms of the contract.

Difference 5: Different coverage.

Social insurance has solved the basic living security of the vast majority of workers, and the degree of protection is relatively low; Commercial insurance only solves the problem of the insured with commercial insurance, and the scope of protection is determined by the amount of premiums agreed by both parties and paid by the insured.

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