Question 1

What is Financial Shock Protection?

Accepted Answer

It would pay a set amount of cash after an approved money emergency that qualifies.

Question 2

How much does Financial Shock Protection pay?

Accepted Answer

You would choose a $400 or $1,200 cash benefit. It is paid once per policy year after an approved claim. Final policy terms decide who qualifies, which events count, and what is excluded.

Question 3

How often can I receive a Financial Shock Protection benefit?

Accepted Answer

Once per policy year at most.

Question 4

Can I use the Financial Shock Protection benefit however I want?

Accepted Answer

Yes. After an approved claim, you can use the cash wherever your household needs it most.

Question 5

Can my Financial Shock Protection price change?

Accepted Answer

Coverage renews each year. The price is set for each year and may change at renewal, as state rules allow.

Question 6

Is this the same as Emergency Fund Gap Coverage?

Accepted Answer

No. Financial Shock Protection is for one surprise money emergency. Emergency Fund Gap Coverage is for a much bigger problem: a severe drop in household income that leaves you short on essential bills.

Question 7

Why would I carry $400 of protection if I could afford the expense myself?

Accepted Answer

You still get paid if a qualifying event happens. And when more people join, the group is more balanced. That helps keep coverage fair for everyone.

Question 8

Is Reserwell insurance?

Accepted Answer

Reserwell is developing two proposed insurance products. Both are still being tested. No insurance company (carrier) has signed on yet, and neither product can be bought today.

Question 9

What triggers Emergency Fund Gap Coverage?

Accepted Answer

Under the current proposed design, your household’s income from work must drop by 60% or more. That drop must leave a gap between your essential expenses and the income you still have. The 60% level is still being tested and needs final carrier, actuarial, and regulatory approval.

Question 10

Does losing one job automatically qualify?

Accepted Answer

No. We look at your whole household’s income from work, not one job. A job loss would only qualify if household income from work drops by 60% or more and leaves you short on essential bills. These generally would not qualify: quitting, choosing to work less, retiring, choosing a lower-paying job, some firings for misconduct, or a loss you already knew about or should have expected when you signed up. Job loss is not covered by Financial Shock Protection.

Question 11

Do large unexpected bills qualify?

Accepted Answer

Not for Emergency Fund Gap Coverage. Surprise bills like a new roof, car repair, furnace or AC failure, or a medical bill do not qualify on their own. Some may fall under Financial Shock Protection, under its own rules.

Question 12

How is the benefit determined?

Accepted Answer

First, we would find the gap between your essential expenses and the income you still have. Other income or benefits count as income you still have. Under the current proposed design, benefits would cover about 85% of that gap. Total benefits could reach $30,000, for up to six months.

Question 13

Why is there a 90-day waiting period before a loss can qualify?

Accepted Answer

Coverage must be in place for 90 days before an income loss can qualify. This helps make sure people buy coverage for losses they don’t see coming — not ones they already expect. That keeps it fair and affordable for everyone.

Question 14

Why is there a 30-day waiting period before benefits begin?

Accepted Answer

After a qualifying income loss, there is a 30-day wait before benefits begin. Insurance policies may call this an elimination period. It gives time to check your income and your real gap. Your own savings would cover these first few weeks.

Question 15

What income or benefits reduce the payment?

Accepted Answer

Other income, such as unemployment benefits, severance, disability benefits, or new wages, may reduce the amount paid. So can income the household still earns.

Question 16

What happens when household income starts recovering?

Accepted Answer

We would check your income and financial gap again each month while benefits are being paid. Benefits go down or stop when income recovers, the gap ends, six months pass, or the $30,000 total is used up.

Question 17

Is $3/day the final price?

Accepted Answer

No. About $3 per day for up to $30,000 of coverage is a target price we are still testing. It is not a final price, a quote, or a guaranteed rate. Price and terms still need actuarial, carrier, and regulatory review.

Question 18

Does Reserwell replace an emergency fund?

Accepted Answer

No. Emergency Fund Gap Coverage is meant to work alongside your savings while you build toward your goal.

Question 19

Does it replace disability insurance?

Accepted Answer

No. Disability insurance usually replaces income when illness or injury keeps someone from working. Emergency Fund Gap Coverage covers a different risk and can work alongside it.

Question 20

What happens as I save more?

Accepted Answer

The goal is for your gap to get smaller as your savings grow. Final policy terms would decide how this works.

Question 21

Where will Reserwell launch?

Accepted Answer

We plan to start in Utah, if a carrier takes part and all required regulatory approvals are met.

Question 22

Is Emergency Fund Gap Coverage available today?

Accepted Answer

No. It cannot be bought yet. Price and terms are still being tested. You can join Early Access to get updates.

Question 23

Are insurance agents able to participate?

Accepted Answer

How Reserwell will be sold is still being tested. Agents and brokers who want to follow along can sign up on the For Agents page.

Questions about a product still in development.

Help shape a new category of household protection.