What's the difference between commercial insurance and social security?

The differences between commercial insurance and social security are as follows:

1, achieving different purposes. Social insurance is the basic guarantee for social members when necessary, not for profit; Commercial insurance is the commercial operation of insurance companies, aiming at profit;

2, the implementation is different. Social insurance is compulsory according to national legislation, while commercial insurance follows the principle of "freedom of contract" and is voluntarily insured by enterprises and individuals;

3. The subject and object of implementation are different. Social insurance is raised, managed and distributed by special institutions set up by the state, targeting social members within the legal scope; Commercial insurance is managed by insurance companies, and the applicant can be anyone who meets the underwriting conditions;

4. Different protection levels. Social insurance provides the most basic protection for the insured, which is higher than the social poverty line and lower than 50% of the average social wage, with a low degree of protection; The level of protection provided by commercial insurance depends entirely on the agreement of both parties and the amount of premium paid by the insured. As long as the insured meets the insurance conditions and has a certain ability to pay, he can get a high level of protection.