Consider the following statements related to the definition of Social Security by Sir William Beveridge:

1. In 1942, Sir William Beveridge headed a committee that reviewed the national schemes of social insurance in Great Britain during the post-war period.

2. The security of an income to take place of the earnings when they are interrupted by unemployment by sickness or accident to provide for retirement through age, to provide against the loss of support by the death of another person and meet exceptional expenditure, such as those connected with, death, birth, and marriage.

Which of the above statement is/are correct?