social insurance

noun

: protection of the individual against economic hazards (such as unemployment, old age, or disability) in which the government participates or enforces the participation of employers and affected individuals

Examples of social insurance in a Sentence

Recent Examples on the Web

In the long run, new social insurance programs such as wage insurance, paid leave, and business-interruption insurance should be paid for without increasing the national debt above and beyond its current trajectory. —Jason Furman, Foreign Affairs, 30 Nov. 2020

Previously, non-resident families had to pay taxes or social insurance for at least six months before being allowed to buy a second home. —Jason Ma, Fortune Asia, 30 Sep. 2024

This feature is similar the French model of long-term care social insurance where every retiree gets some benefit but the amount is linked to beneficiaries’ ability to pay. —Howard Gleckman, Forbes, 15 Oct. 2024

The announcement comes as the national social insurance plan faces a severe financial shortfall in the coming years. —Shawn Tully, Fortune, 10 Oct. 2024

Word History

First Known Use

1890, in the meaning defined above

Legal Definition

social insurance

noun

: insurance of the individual against certain hazards (as unemployment, old age, and disability) that is undertaken, facilitated, or enforced by government