GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Hull Insurance
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Social Insurance
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Group Insurance
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Hospital Insurance
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Detailed explanation-1: -Social insurance is a public insurance that provides protection against economic risks. Participation in social insurance is compulsory. Social insurance is considered to be a type of social security.
Detailed explanation-2: -The difference between social insurance and social assistance are as follows: a) Social assistance is purely a government affair while social insurance is partly financed by the State. b) Social assistance is given gratis while social insurance is granted to those persons who pay a contribution.
Detailed explanation-3: -social insurance, public insurance program that provides protection against various economic risks (e.g., loss of income due to sickness, old age, or unemployment) and in which participation is compulsory.