Is social insurance the same as commercial insurance?

Social security is different from commercial insurance. The content of social security is social insurance such as endowment insurance, medical insurance, work injury insurance, unemployment insurance and maternity insurance, which belongs to social welfare in nature; Commercial insurance covers life insurance and property insurance, which is the business activity of financial enterprises.

legal ground

Article 2 of People's Republic of China (PRC) Social Insurance Law

The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to get material help from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.

Article 10

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

Article 12 of the Insurance Law of People's Republic of China (PRC)

When concluding an insurance contract, the applicant for life insurance shall have an insurable interest in the insured.

The insured of property insurance shall have an insurable interest in the subject matter insured at the time of the insured accident.

Personal insurance is an insurance with human life and body as the subject matter.

Property insurance is insurance with property and its related interests as the subject matter.