Insurance as well as social insurance constitute two notions of vital significance which characterize earlier and modern societies. However, since the middle of the 20th century certain demographic incidents have occurred and have disrupted it’s regular progress. At the same time, for the past few decades, immigration has been increasing on an international level, making the phenomenon of utmost importance for the maintenance of the existing demographic balance. Τhe present work, based on the previous assumptions, delves into the social security systems and the criteria in which they are divided. Following the analysis of the welfare state models in Europe, one country from each model is chosen and it’s social security system is analyzed. In the third chapter an analysis is made, firstly, on the development of instant replacement in the last twenty years and secondly, on the projections of the Eurostat data base, which predict the future instant insurance with regard to the existence or non existence of immigration, for the next forty years, until 2060.
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