What is "five insurances and one gold"?

The five risks mentioned in "five insurances and one gold" include endowment insurance, medical insurance, unemployment insurance, work injury insurance and maternity insurance, and one gold refers to housing accumulation fund. Among them, endowment insurance, medical insurance and unemployment insurance are premiums paid by enterprises and individuals, while industrial injury insurance and maternity insurance are entirely borne by enterprises. Individuals do not need to pay.

what is endowment insurance?

Endowment insurance is an important part of social security system and one of the most important five types of social insurance. The so-called endowment insurance (or endowment insurance system) is a social insurance system established by the state and society according to certain laws and regulations to solve the basic life of workers after reaching the working age limit stipulated by the state to terminate their labor obligations or quitting their jobs because of old age.

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What is maternity insurance?

Maternity insurance is a social policy that the state provides living security and material assistance to pregnant and parturient female workers through legislation. Its purpose is to help professional women recover their working ability and return to work by providing them with maternity allowance, medical services and maternity leave.

The living security and material assistance provided by maternity insurance usually consist of cash subsidy and physical supply. Cash subsidy mainly refers to the maternity allowance given to women who give birth. Some countries also include a one-time cash grant or family allowance. Physical supply mainly refers to the provision of necessary medical care, medical services and daily necessities needed by pregnant women and babies. The scope, conditions and standards provided are mainly determined according to the economic power of the country.

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What is medical insurance?

medical insurance is a kind of material help given by the state or society when people are sick or injured, that is, a social security system that provides medical services or economic compensation.

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What is industrial injury insurance?

industrial injury insurance is an important part of social insurance system. It refers to a social security system in which the state and society provide medical treatment, living security, economic compensation, medical treatment and vocational rehabilitation for workers and their relatives who suffer from accidents and occupational diseases in production and work.

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What is unemployment insurance?

Unemployment insurance refers to a system that is enforced by the state through legislation, and funds are set up centrally by the society to provide material assistance to workers whose livelihood is temporarily interrupted due to unemployment. It is an important part of the social security system and one of the main items of social insurance.

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What is housing provident fund?

the urban housing accumulation fund is a special fund used by the municipal (county) government to solve the housing problems of employees in administrative institutions and low-and middle-income residents. The urban housing fund is raised from the funds currently used by the finance at the same level for housing construction, maintenance, management and subsidies, the local extraction of housing fixed assets investment direction adjustment tax, real estate tax, land use right transfer fee, and the sale of housing recovery funds belonging to state-owned assets.

Further reading: How to buy insurance, which is better, and teach you how to avoid these "pits" of insurance.