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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
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Word History
First Known Use
1890, in the meaning defined above
Dictionary Entries Near social insurance
Cite this Entry
“Social insurance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/social%20insurance. Accessed 15 Dec. 2024.
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
More from Merriam-Webster on social insurance
Britannica.com: Encyclopedia article about social insurance
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