Is there a difference between social security and life insurance?

The difference between life insurance and social security lies in:

1, with different properties.

Life insurance is a kind of commercial insurance, which is commercial and not mandatory. The biggest goal is to maximize profits. Social security is social insurance, which has public welfare and does not pursue income. Social security is also mandatory, and institutions must provide social security for employees.

2. Guarantee content

There are many types of life insurance, and the products launched every year will change greatly. The insured can purchase insurance products from various insurance companies according to their own economic situation and needs. The content of social security is relatively fixed and has not changed much, which can meet the basic needs of society.

3, the security object is different

Personal insurance takes natural persons (not necessarily related) as the object, and its function is that the insured dies during the insurance period, and the insurance company pays the insurance money according to the contract. Social security is mainly aimed at workers and their immediate family members, and its role is to provide basic living security for workers when they permanently or temporarily lose their ability to work and income.

4. The premium and payment methods are different.

The premium of life insurance is related to the specific products of insurance companies. Different products have different premiums due to different coverage content and duration. Life insurance is divided into term life insurance and whole life insurance, and the premium can be paid once a year or once. The cost of social security is related to the individual's salary level and contribution ratio. Different provinces and regions set different payment ratios according to their own economic development level, and the social security payment base is the actual salary of the insured.

Test your anti-risk index, and experts will interpret it for you for free!