Social Insurance and Socioeconomic Development in UAR

Abstract

Social insurance programs are basically designed to alleviate the financial burden of the loss of income and expense resulting from premature death, disability, sickess, unemployment and old age. Therefore, social insurance is primarily concerned with the economic well-being of the family unit in case any of the above unfortunate events happen to the breadwinner of that family. Social insurance is distinguished from other types of insurance and from other social programs that might be used for the same objective such as public assistance. In the first place, social insurance is compulsory in the sense that all eligible working individuals holding jobs included in the program are automatically covered in the system, whereas in private insurance, coverage is provided individually on a voluntary basis, and in public assistance programs the state offers financial help to needy families according to the merits of each case alone.