Social insurance programs

Social insurance programs are government initiatives designed to provide financial protection and support to individuals during life's uncertainties, such as retirement, disability, unemployment, or health issues. Funded through payroll taxes or contributions, these programs ensure that eligible people receive income or services when needed, helping to maintain economic stability and security. Examples include Social Security, Medicare, and unemployment insurance. They work on the principle of pooling resources to assist those in eligible circumstances, promoting social safety and reducing poverty among vulnerable populations.