Which is better, social security or life insurance?

The difference between social security and old-age insurance is: 1, and the concept is different: old-age insurance refers to a kind of social insurance established by the state and society according to laws and regulations to solve their basic livelihood after workers reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age. Social security is the abbreviation of social insurance, which refers to five kinds of insurance: endowment insurance, medical insurance, maternity insurance, unemployment insurance and industrial injury insurance. 2. Different contents: Although social security includes endowment insurance, it is not limited to endowment insurance, which is only one of the five types of social insurance. Old-age insurance only provides old-age security. If you only pay one-off pension insurance, it does not include medical insurance. 3. Different purposes: The main purpose of endowment insurance is to ensure the basic life after old age. Buying social security can not only guarantee the basic life after old age, but also provide medical insurance to ensure the basic life during unemployment and work-related injuries.

Legal objectivity:

What is the difference between life insurance and social insurance? The difference between life insurance and social insurance lies in: first, the nature and scope are different. Social insurance is a legislative form adopted by the state, which requires all objects within the scope stipulated by laws and regulations to participate, and the treatment they enjoy is also determined by laws and regulations, which is statutory or mandatory. Life insurance is an insurance contract signed by the applicant and the life insurance company, which stipulates the rights and obligations of both parties. The two sides have a contractual relationship of equal exchange. Only those who meet the conditions of the insurance contract, any unit or individual can participate. Generally speaking, it is voluntary. Second, the sources of funds are different. Social insurance funds are collected according to the provisions and requirements of laws and regulations, which are generally shared by the state, units and individuals, and the state bears the ultimate responsibility. The insurance premium of personal insurance shall be paid by the insured units and individuals in accordance with the insurance contract, and shall be borne by the insured units and individuals themselves. Third, the degree of protection is different. The degree of protection of social insurance is based on the principle of maintaining the basic living standard, which should generally be adapted to the level of social and economic development of the country and the affordability of all aspects. The degree of protection of life insurance is mainly determined by the insured and the life insurance company according to their personal wishes, which can be high or low and is generally unrestricted. Fourth, the insurance liability is different. The insurance responsibility of social insurance is to help and compensate workers in old age, illness, work injury and childbirth. According to the Insurance Law, life insurance can design and handle life insurance, health insurance and accident insurance, and bear corresponding responsibilities according to market demand. Fifth, the handling subjects are different. Social insurance is generally handled by relevant government departments or agencies authorized by the government. Life insurance shall be handled by life insurance companies approved by the provisions and procedures of the Insurance Law and the Company Law. Sixth, the operating principle is different. Social insurance is not for profit, does not pay taxes and fees, and there is no commercial competition. The state bears the responsibility for profits and losses. Life insurance should stress efficiency, pursue profits and pay taxes in accordance with relevant regulations. Companies are responsible for their own profits and losses, and all life insurance companies can compete fairly in business.