According to Article 2 of the Social Insurance Law of the People's Republic of China, the purpose of paying social insurance is to protect citizens' right to receive material assistance from the state and society in the event of old age, illness, work-related injury, unemployment, childbirth, etc. The specific functions are as follows:
1. Endowment insurance refers to a social insurance system in which workers reach the statutory retirement age and retire, and receive certain economic compensation material help and services from the society, that is, when we are not able to work, we can get some economic help from the society or the society, so as to ensure our basic life.
2. Medical insurance, that is, the amount of reimbursement for medical treatment or hospitalization after we get sick, and the insurance reimbursement ratio is not the same for the different levels of hospitals and the minimum payment amount.
3. Work-related injury insurance, also known as occupational injury insurance, is provided by the state and society to the injured, disabled and deceased person's relatives after an employee is injured by an accident in the course of work, or an occupational disease caused by exposure to occupational hazards such as dust, radiation and toxic substances.
4. Unemployment insurance, when we do not have a job, the society or the state will give certain compensation to maintain the basic life.
5. Maternity insurance, for working women due to the birth of children caused by the temporary suspension of work, loss of normal income, by the state or society to provide material assistance, in order to ensure the normal work of this special period of time.