Question

Social insurance involves the establishment of a common monetary fund out of which the benefits are paid.

• A. True
• B. False

Answer 1

The correct option is A True

Social insurance involves the establishment of a common monetary fund out of which the benefits are paid- this is a true statement.
Social insurance can be defined as compulsory contribution which is to be done to create a fund for social purpose in order to avail some benefits. Benefits are guaranteed as a matter of right.