Five insurances and one housing fund refers to a social insurance and provident fund protection system in China, including: endowment insurance, medical insurance, unemployment insurance, work-related injury insurance and maternity insurance, as well as housing provident fund.
Among them, endowment insurance is the most important part of the five insurances and one housing fund, which aims to provide the insured with life security after retirement. Medical insurance, on the other hand, provides coverage for medical expenses in the event of illness or injury. Unemployment insurance, on the other hand, provides financial security for those who have lost their jobs for various reasons. Workers' compensation insurance provides reimbursement of medical expenses and financial compensation for those injured on the job. Maternity insurance provides reimbursement of medical expenses and financial compensation for female employees during childbirth.
Finally, the housing provident fund is a system that provides housing security for the insured, which can help the insured accumulate housing funds and improve their housing purchasing power.
In general, five insurances and one housing fund are an important part of China's social security system, which provides a full range of protection for the insured and helps to improve the quality of life and happiness of the people.