Sozialversicherung

Sozialversicherung, or social insurance, is a system where the government and employers collect contributions from workers to provide financial support in times of need, such as illness, injury, unemployment, or old age. It ensures that individuals have access to healthcare, income replacement, and pension benefits, promoting social stability and protection. The system is typically mandatory, meaning most employees participate, and the contributions are based on earnings. Overall, Sozialversicherung helps safeguard individuals from economic hardship resulting from life's uncertainties, fostering social security and well-being.