Business Studies

Which of the following is/are the feature(s) of social insurance?


ANSWER

All of the above


SOLUTION
Social insurance involves the establishment of a common monetary fund out of which the benefits are paid. Social insurance can be defined as compulsory contribution which is to be done to create a fund for social purpose in order to avail some benefits. Features of social insurance are:a) There is no close correspondence between workers own contribution, and the benefits granted to them.
b) Benefits are granted as a matter of right.
c) Social insurance is now provided on a compulsory basis so that its benefits might reach all the needy persons.
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Single Correct Medium Published on 18th 08, 2020
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