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Old-Age Insurance

Description:

Old-Age Insurance refers to a government-sponsored program designed to provide financial support and security to individuals during their retirement years. It is a form of social insurance where workers contribute a portion of their income throughout their working lives and are subsequently eligible to receive benefits once they reach a certain age.

Sample Sentences:

• My grandmother relies on her old-age insurance to cover her living expenses now that she has retired.
• Old-age insurance helps seniors maintain a comfortable lifestyle and protects against financial hardships in their later years.
• John has been contributing to his old-age insurance for over 30 years, and he's excited to start receiving his retirement benefits soon.

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