Social insurance - Public finance

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The necesity and econmic content of the social insurance One of the objective factors of social development is the need for material support of those who for some reason do not participate in social activities and can not on account of payments for labor support their own existence. For the maintenance of the members of society who lack a physical ability or disposing such, but who are unable to realize it for various reasons, part of the created gross domestic product is directed, being specifically set apart by the society for this purpose. Under the conditions of operation of commodity-money relations, this part of the social product is used by means of formation and use of certain cash funds.