Should start an insurance fund for consulting and layoffs

likesmarthelpful
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Let’s unionize

funny

So instead of saving 6 months into an emergency fund, I’d purchase an insurance policy? I don’t think this will work

likefunny

Nah, betting pool. More $.

Who are you covering and what are you insuring against?

Initial buy in + 5% of salary, effective 1 year after employment with a firm

Payout 3-6 months of salary if layed off

Someone can do the math and risk profile

It’s kind of a catch 22, the folks living paycheck to paycheck will probably not seek out this type of insurance until they lose their job....

Folks who are responsible can easily save up a nest egg to self insure over a year or two.

So looks like we’re going to have a demand problem with this terrible idea

The only people who’ll buy are those most at risk of getting laid off (not as confident in their abilities, maybe soon to be laid off, etc.).

And once you buy and feel the heat, why wouldn’t you just get fired so you can cash out.

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