The five insurance refers to which five kinds of insurance

In China's social security system, there are often references to the "five risks", which five types of insurance do they refer to? The following is a detailed description of these five types of insurance in order to better understand China's social security system.

First of all, let's understand the concept of "five insurance". The five types of insurance refer to the social insurance paid by individuals and organizations***, including pension insurance, medical insurance, work injury insurance, maternity insurance and unemployment insurance. These insurance is led by the government, unified management and provision, aimed at providing a full range of social security for the insured.

What is included in the "five insurance"?

Pension insurance: Pension insurance is set up to protect the life of the insured after retirement. Individuals and organizations are required to pay pension insurance premiums in order to receive a monthly pension upon retirement.

Medical insurance: Medical insurance is set up to protect the medical needs of the insured. Individuals and organizations are required to pay medical insurance premiums so that they can enjoy a certain amount of reimbursement of medical expenses when they need to seek medical treatment.

Worker's Compensation Insurance: Worker's Compensation Insurance is set up to protect the participants from accidental injuries at work. When a participant suffers a physical injury due to an accident at work, he or she can receive a certain amount of compensation for the injury.

Maternity insurance: Maternity insurance is set up to protect the life and medical needs of insured women during childbirth. During the period of maternity, insured women can get certain maternity allowance and reimbursement of medical expenses.

Unemployment insurance: Unemployment insurance is designed to protect the basic livelihood of the insured during the period of unemployment. When a participant loses his/her job due to company layoffs or other reasons, he/she can receive a certain amount of unemployment insurance benefits to ease the pressure of life.

Through the above introduction, we can see that the "five insurance" is an important part of China's social security system, which provides a full range of social security for the insured.

Whether it is pension insurance, medical insurance, work injury insurance, maternity insurance or unemployment insurance, all of them are of great significance and can effectively protect the basic rights and interests of individuals and the quality of life. Therefore, we should actively participate in social security to provide protection for ourselves and our family's future.

I am Milkman, if you have any insurance related questions please contact Milkman Insurance for consultation!