social insurance Meaning in the Cambridge English Dictionary
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Meaning of “social insurance” in the English Dictionary

"social insurance" in British English

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social insurancenoun [U]

uk   us  
(in the US) ​money that ​employers and ​employeespay to the ​government so that ​peoplereceivemoney when they are not ​able to ​work because of ​age, ​illness, etc.
(Definition of social insurance from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"social insurance" in Business English

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social insurancenoun [U]

uk   us  
GOVERNMENT, ECONOMICS money that ​employers and ​employeespay to the ​government so that ​people receive ​money when they are not able to ​work because of age, illness, etc.: In most countries, ​publicfinance, whether from ​taxes or from ​socialinsurance, is likely to predominate in ​healthcare.
(Definition of social insurance from the Cambridge Business English Dictionary © Cambridge University Press)
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