Can insurance replace social security?

Insurance cannot replace social security. Accurately speaking, commercial insurance and social security cannot be substituted for each other.

Social security refers to a non-profit social security system with the function of income redistribution. It is a system that forces most members of society to participate in order to prevent and share social risks such as old age, unemployment, illness and death and realize social security. Is the most basic guarantee. Commercial insurance is more of a supplement to social security, which can guarantee life more effectively.

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