Similarities To Private Insurance
Typical similarities between social insurance programs and private insurance programs include:
- Wide pooling of risks;
- Specific definitions of the benefits provided;
- Specific definitions of eligibility rules and the amount of coverage provided;
- Specific premium, contribution or tax rates required to meet the expected costs of the system.
Read more about this topic: Social Insurance
Famous quotes containing the words similarities, private and/or insurance:
“One internationally known twin researcher sees similarities between twins’ relationships and those of couple who have been married a long time. Fifteen-year-old twins, as well as spouses approaching their fortieth anniversary, each know their partners’ likes, dislikes, habits, and idiosyncracies as well as they know their own.”
—Pamela Patrick Novotny (20th century)
“For such will be our ruin if you, in the immensity of your public abstractions, forget the private figure, or if we in the intensity of our private emotions forget the public world. Both houses will be ruined, the public and the private, the material and the spiritual, for they are inseparably connected.”
—Virginia Woolf (1882–1941)
“In taking out an insurance policy one pays for it in dollars and cents, always at liberty to discontinue payments. If, however, woman’s premium is a husband, she pays for it with her name, her privacy, her self-respect, her very life, “until death doth part.””
—Emma Goldman (1869–1940)