The future of social protection is in doubt. In today's the continuously changing world, the European –and not only- crisis has reached to an extent that calls for immediate actions. Despite the disastrous results, opportunities exist that were inconceivable a decade before. The crucially importance area mostly in need is the societal one because the world we live in consists of the civil society that lives and functions within it. Thankfully, for every obstacle appeared many potential solutions are provided. In the present study - analysis we will try to understand under which circumstances a new system can be implemented, as an alternative program of social security -in contrast to the present ones- that is capable of creating the incentives for ind ividual/private initiative for self-insurance rather than the present system based in the central governmental.In Greece, many measures have been taken, over the past three years, in the field of social insurance. The Insurance Act has been modified several times in the last decade. In this study we will present and analyze the relevant legal provisions in comparison with the last one and with the aims of the European policy in this sector.Through comparative analys is in countries that have already imp lemented this scheme we will try to determine to what extent this newly introduced system can have positive results for the well being of a state, especially in Greek society, and under which conditions it can become reality. Through our research we will try to answer the raised questions; what is this new phenomenon, what are the potential hazards, can this innovative system work for Greece? Additionally, what are the barriers or boundaries that the state raises in terms of bureaucracy and law?