What is the difference between commercial insurance and social security?

No one can guarantee that life will be smooth sailing all the time, and we may face the risk of illness, accidental injury or even death at any time.

If you have an insurance policy,you will be able to reduce some of your worries!

Social security can give us the old age, sickness and death are provided for the protection of the accident or disease have social security reimbursement, so is not enough?

In fact, when misfortune strikes, many people regret that they did not buy another commercial insurance in advance!

So what is the difference between commercial insurance and social security? The first thing you need to do is to buy a commercial insurance policy. The following school sister to solve the answer for you!

But before that, because insurance involves a lot of specialized knowledge, so it is recommended that all partners first come to understand the basics of insurance, which helps to understand:Super full! All you want to know about insurance is here!

The focus of this article:

What is the difference between commercial insurance and social security?

What should I buy for business insurance?

I. What is the difference between business insurance and social security?

1, the difference between commercial insurance and social security

(1) the object of protection is different: commercial insurance is As long as meet the insurance requirements of the insurance product, then anyone can participate; while the object of social security protection is laborers, but flexible employment can participate in the flexible employment social security, only flexible employment social security only includes health insurance and pension insurance.

(2) The basic attributes are not the same: commercial insurance to profit for the purpose of commercial and business, etc.; social security is the nature of social security for non-profit, public welfare.

(3) Premiums are not the same: commercial insurance premiums for individuals , responsible for the payment of premiums is known as the policyholder; social security premiums by the employer and workers **** with the same , if it is a flexible employment , social security premiums by the flexible employment , social security premiums by the flexible employment , social security premiums by the non-profit, public welfare . The premiums are paid by the employer and the worker.

(4) Commercial insurance is voluntary, while social security is compulsory for employers to purchase for workers.

2, social security has limitations

Social security can provide protection for each of us, but it is only the basic protection.

Taking the social security of health insurance as an example, Medicare reimbursement of treatment expenses has the following limitations:

If when you are unfortunate enough to be hospitalized with a serious illness, and major illnesses tend to be very costly to treat, with the reimbursement of medical insurance, you will find that after the reimbursement of medical insurance, there is still left. A large amount of medical expenses need to be borne by the individual, which is a heavy financial pressure on families with average incomes.

If there is commercial insurance such as commercial million-dollar medical insurance reimbursement, which provides million-dollar reimbursement, you can reimburse more reasonable medical expenses, greatly reducing the financial pressure on the family.

So we have social security, and then with the purchase of exclusive commercial insurance, personal health protection can be more complete.

So, even if you have a social security, you still need to configure commercial insurance, personal protection system will be more improvement, and more effective in transferring the economic risk,The two are complementary to each other.

People look at this article, you can more in-depth understanding of why buy social security still need to buy commercial insurance:With social security you do not need to buy commercial insurance? What is the difference between social security and commercial insurance?

Two, what should I buy for commercial insurance?

To analyze from an adult's point of view, it is suitable for adults to buy critical illness insurance, medical insurance, accident insurance, life insurance these commercial insurance:

1,Critical Illness Insurance

Critical illness insurance mainly protects against major illnesses, and is a give-and-take insurance.

After buying a critical illness insurance policy, during the coverage period, if the insured person is unfortunately diagnosed with a contractual major illness and meets the conditions of the claim, the insurance company will give a one-time payment of insurance money, which can be used for any purpose. , this money can be used for any purpose, either to pay medical expenses, or as follow-up rehabilitation costs, medical expenses for family members, to make up for the loss of income due to the disease, and so on, and so on. Critical illness insurance can be said to be the preferred type of insurance for adults to buy insurance, which can reduce the financial burden of illness to a greater extent.

If you feel the need to buy critical illness insurance, then you may want to take a look at these popular critical illness insurance policies:Top 10 Popular Critical Illness Insurance Policies Worth Buying!

2,Million Dollar Medical Insurance

Since medical insurance has limitations such as cap and threshold, reimbursement rates, etc., adults can then allocate another million dollar medical insurance.

Medicare is a supplement to Medicare that coverages up to millions of dollars, and generally reimburses the remaining large and reasonable medical expenses after social security reimbursement.

Many of these policies also offer useful value-added services such as green passes for medical care and expense advances, which help to solve the problem of access to medical care.

3,Accident Insurance

Accident insurance is to protect against bodily injuries caused by external, sudden, unintentional, and non-disease events.

This type of insurance product coverage responsibility is simple, and the threshold for enrollment is low, men and women, young and old can buy the right product.

4, life insurance

Adults are under pressure at work, and may also face the pressure of living with a car loan, supporting their parents, and so on, and in case they die one day, then the configuration of the life insurance can play a role, and the family can get a The death benefit, solve the family's financial difficulties due to the death of an adult.

But it should be noted that elderly people and children basically don't need to bear the burden of the family's finances, so they are not very suitable for buying life insurance.

About the functions of the above four types of commercial insurance, if you still want to know more, you can check this article again to understand in depth:What is the difference between critical illness insurance, medical insurance, accident insurance and life insurance? Do they conflict when it comes to claims?