Social Security and Social Insurance

Social security as a concept to provide security to the needy, sick, unemployed is not a modern development of mankind. The needy people of the society were getting assistance from their joint family structure, caste fellows, covillagers, guilds and religious trusts etc. from time immemorial. Social security is present understood as one of the dynamic concept of modern age which is influencing social as well as economic policy. As the nuclear missile is the most effective weapon of war, so also social security is the most effective weapon of peace.