social insurance

noun
any of various forms of insurance in which a government is an insurer, especially such insurance that provides assistance to disabled or unemployed workers and to aged persons.

Origin:
1915–20

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
social insurance
 
n
social security national insurance See also social assistance government insurance providing coverage for the unemployed, the injured, the old, etc: usually financed by contributions from employers and employees, as well as general government revenue

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
There are many other models of health care provision, many based on various
  forms of social insurance, that you should look at.
But health insurance is considered social insurance.
There's a temptation among those who want to reduce public spending on social
  insurance to minimise such intangible goods.
Top earners often pay tax on personal and capital income, as well as social
  insurance and excise taxes.
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