Answer the question in maximum 15 to 20 words. This question carries 03 marks. [MPPSC 2023]
Who are the beneficiary of social security and its key components?
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Beneficiaries of social security include individuals and families who require financial support during times of need, such as the elderly, disabled, unemployed, or low-income workers. Key components of social security typically include retirement benefits, disability insurance, unemployment insurance, and health care coverage. Retirement benefits provide income to individuals after they reach a certain age. Disability insurance offers financial assistance to those unable to work due to illness or injury. Unemployment insurance supports those who have lost their jobs, while health care coverage ensures access to necessary medical services. Together, these components aim to promote economic stability and improve quality of life.