Subjectivity of law:

In China, the national laws force employers to pay social endowment insurance for workers according to law. This part of people is usually called unit endowment insurance. But not everyone goes to work, some choose to start their own businesses and some are freelancers.

1. How to buy personal endowment insurance?

1. The insured shall go through the registration formalities at the village (neighborhood) committee with his/her ID card, original and photocopy of the household registration book.

2. The insured person chooses the payment grade independently and fills in the relevant information. If the insured person has no ability to fill in the information, the village assistant will help him fill it out, but he must sign, stamp and leave his fingerprint for confirmation.

3. Pay the fee annually, and fill in the Registration Form for the first time insured;

4. After verifying the insured information, the village assistant will submit the relevant materials to the town labor insurance office for review.

5. The town labor insurance office examines the payment qualification, checks the insured and payment information and payment details, and enters the payment information into the provincial information system.

6. Village assistants focus on the unified payment of village insured persons to the Postal Savings Bank or the insured persons to the Postal Savings Bank themselves.

7. After the village assistant pays the fee in a unified way and the insured pays the fee by himself, he will go to the town labor insurance office to confirm the payment.

8. The county agricultural insurance office will check the payment information reported by the town labor insurance with the receipt of financial institutions. After it is correct, the transitional household fund will be withheld, transferred to the income account of the urban and rural residents' insurance fund, and the payment information will be systematically confirmed. The county financial department will submit the payment information of the insured person in the current year, and apply for personal payment subsidies in the current year, which will be credited to the personal account.

9. The county finance bureau allocates subsidy funds.

second, the process of receiving social endowment insurance benefits for urban and rural residents

1. The town labor insurance office will inform the village assistant to go through the collection procedures after generating the information of the recipients every month.

2. The village assistant informs the insured.

3. The insured shall submit the ID card, original and photocopy of the household registration book, payment passbook and other materials to the village assistant.

4. The village assistant will conduct a preliminary examination and report it to the town labor insurance office for review.

5. After being audited by the town labor insurance office, it is reported to the county agricultural insurance office.

6. The county agricultural insurance office will review the approved pension benefits that meet the conditions for receiving

7. The county rural commercial bank will generate a passbook and issue it to the personal account.

8. The county agricultural insurance office reviews and distributes bank passbook.

9. The town labor insurance office receives the bank passbook and issues the village assistants.

1. The beneficiary will bring his ID card to the village assistant to get the bank passbook.

iii. authentication process of social endowment insurance for urban and rural residents

1. The village assistant informs the pensioners to authenticate their survival qualifications. The recipients bring their ID cards and household registration books to the labor protection station in the community (village) where their household registration is located to fill out the Authentication Form, and then hand it over to the village assistant after signing it. Residents living in different places can download the Notice online and authenticate it at their place of residence and mail it to the village assistant.

2. The community (village) assistant shall review relevant materials, sign opinions after confirmation, affix the official seal of the community (village) committee, and report to the town labor insurance office.

3. The relevant information about the suspension of pensions for the first-instance recipients of the town labor insurance office shall be signed and stamped and reported to the county agricultural insurance office.

4. After the county agricultural insurance office rechecks the relevant information and confirms that it is correct, those who pass the certification can continue to enjoy the old-age insurance benefits. Those who pass the certification at the end of the time limit will be suspended from the next month after the certification, and will not be able to resume normal distribution until the next month after the certification.

4. How to buy individual old-age insurance?

the purchase method of commercial endowment insurance: firstly, you should choose according to the reputation and claims of various insurance companies, and you should also choose according to whether you buy traditional commercial endowment insurance or one of investment-linked commercial endowment insurance, universal commercial endowment insurance and two-way commercial endowment insurance; In the way of premium payment, because the difference of payment affects the change of premium, it is suggested that individuals decide the payment period according to their actual economic situation, or shorten the payment period appropriately, because the shorter the payment period, the less the total premium to be paid.

V. Procedures for handling commercial endowment insurance

1. Bring your ID card to the insurance unit to buy;

2. Telephone purchase:

(1) Call the insurance company;

(2) explain the commercial insurance types to be purchased with the customer service;

(3) If the insurance is confirmed, the customer service will ask a special person to send the quotation to the designated place the next day, and sign and pay the money after confirming that the quotation is correct, and the policy will arrive in my hand one day later.

from the above, we can choose social endowment insurance or commercial endowment insurance for urban and rural residents according to our actual situation, although there are some differences between them. But both of them have the same ultimate goal, which is to protect the life of retirement in the future.