Social Insurance and Economic Security

Social insurance and economic security refer to programs designed to protect individuals from financial risks due to life's uncertainties, such as unemployment, disability, or retirement. Funded through taxes or contributions, these programs provide benefits to help maintain a basic standard of living when people face hardships. Examples include Social Security, unemployment insurance, and Medicare. The aim is to promote stability and prevent poverty, ensuring that citizens have access to necessary resources during challenging times, thus fostering a more secure and equitable society.