This report is part of the World Bank's advisory and analytical assistance to the Government of Chile. The report examines whether Chile has a social protection "system" - broadly defined to include policy interventions, public institutions, and the regulation of private institutions that lower the welfare costs of adverse shocks to income from job loss and extended unemployment, health episodes, old age, and life-time poverty - or simply a set of loosely coordinated programs. Further, the report assesses whether households are provided with appropriate tools to mitigate risks to their income, identifying gaps in coverage and where instruments are missing. Finally, the report provides the Government with a set of guidelines, grounded in a conceptual framework that if carefully applied, could increase the effectiveness of social protection.