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Federal insurance chiefly denotes the U.S. Social Security system's old-age, survivors, and disability insurance (OASDI), funded by payroll taxes under the Federal Insurance Contributions Act (FICA). It extends to other government-backed programs like FDIC bank deposit protection or FEMA's National Flood Insurance Program. Today, it's a cornerstone of the social safety net, embodying the idea of earned benefits from lifelong contributions.
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