How it works
Protection that changes as your savings change.
Emergency Fund Gap Coverage is being developed for households that are still building emergency savings. It is designed to help cover part of the gap when household income from work drops sharply and you can no longer pay essential bills.
How it works
Protection that changes as your savings change.
- 01
Find your savings gap
This is the difference between the savings you have now and your emergency savings goal.
- 02
Verify eligibility
We would check your work history, household income, and savings.
- 03
Coverage begins
Coverage must be in place for 90 days before an income loss can qualify.
- 04
A big income loss happens
To qualify, your household’s income from work must drop by 60% or more.
- 05
Measure the real gap
After a 30-day waiting period, we would compare your essential bills with the income you still have. Other income or benefits may reduce the amount paid.
- 06
Benefits adjust as the household recovers
Your income and gap would be checked again each month. Benefits go down or stop as income comes back or a limit is reached.
The destination is not permanent insurance.
The destination is a fully funded emergency reserve.
Current proposed design
How the proposed coverage would work.
This is the design we are testing now. These are not final terms. They still need final carrier, actuarial, legal, and regulatory approval.
Proposed terms
- Up to $30,000 in total benefits
- To qualify, your household’s income from work must drop by 60% or more
- Coverage must be in place for 90 days before an income loss can qualify
- After a qualifying income loss, there is a 30-day waiting period before benefits begin. Insurance policies may call this an elimination period
- Benefits may cover about 85% of the gap between your essential expenses and the income you still have, up to the policy limit and after other income sources are counted
- Benefits may continue for up to six months as long as you still qualify
- Your household income and financial gap would be checked each month while benefits are being paid
- Other income, such as unemployment benefits, severance, disability benefits, or new wages, may reduce the amount paid
- Benefits go down or stop when income recovers, the gap ends, six months pass, or the $30,000 total is used up
Target price we are testing: about $3 per day for up to $30,000 of coverage. This is not a final price, quote, or rate you can buy today.
Eligibility
Applicants would need a stable work history and proof of household income. They could not already know that a layoff, job loss, or major cut in hours is coming.
These generally would not qualify:
- Quitting your job
- Choosing to work fewer hours
- Retiring
- Choosing a lower-paying job
- Some firings for misconduct
- Losses you already knew about, or should have expected, when you signed up
Final coverage would include limits, exclusions, and rules about other income set with the carrier and regulators. Not available for purchase.
Planning tool
See the gap in your own numbers.
Nothing you enter is submitted or stored.
What does your emergency-fund gap look like?
Adjust the inputs to see how the gap changes as savings grow.
Illustrative planning tool — not an insurance quote
Your target reserve
$30,000
Current savings
$12,000
Your current emergency-fund gap
$18,000
Emergency Fund Gap Coverage would be designed around a portion of this gap, subject to eligibility, policy limits, carrier approval, and final product terms.
This tool does not calculate a premium, generate a quote, or confirm any coverage amount.
Illustration
A simple example
- Essential expenses
- $5,000 / month
- Savings goal
- 6 months
- Emergency-fund target
- $30,000
- Current savings
- $12,000
- Savings gap
- $18,000
This household has saved $12,000 of its $30,000 goal. Reserwell would not cover the full goal. If a qualifying income loss happened, benefits would be based on the gap between essential bills and the income still coming in — not just the savings gap.
As the household keeps saving, that gap gets smaller.
This example is for illustration only. It does not show approved policy terms, coverage, pricing, or eligibility.
Help shape a new category of household protection.
Reserwell is still testing Financial Shock Protection and Emergency Fund Gap Coverage. Join Early Access to follow our progress and tell us which one interests you most. We plan to start in Utah, if a carrier takes part and all required regulatory approvals are met.