A Genuine Alternative to Insurance for Crisis Events
People call on close friends & family when they need help. When people need more help, they have to reach out further - to the broader crowd. Unfortunately, the broader crowd is less reliable than friends and family, even with crowdfunding, the chance your campaign goes viral is small. PeerCover provides a genuine alternative to insurance for crisis events by:
- Assisting members in running crowdfunding campaigns for their crisis, and
- Member's campaigns receive PeerCover top-ups (small auto-donations from all members, amounting to a material top-up)
PeerCover Member Benefits
- receive practical and financial assistance for your crisis crowdfunding campaign
- your crowd moderates definition & severity of your crisis i.e. not based on pre-defined T&C’s
- campaigns are visible, so you can see how your auto-donations has helped others
- get updates on top-ups paid and your remaining balance
- minimal running costs means greater value for money
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5 Simple Rules
- Pay a one-off non-refundable $20 subscription, after a month you are eligible for PeerCover top-ups.
- Should you have a personal crisis (medical, memorial, emergency etc), then for every significant campaign donor (i.e. someone who donates more than $50 to your crowdfund campaign), each member of the club automatically donates 10 cent from their pre-paid subscriptions.
- The more significant donors you get, the more auto-donations you will receive, up to a maximum of $5 per member per crisis campaign.
- If you want to exit the crisis club just let your balance run down to $0 - your balance will be used to help others through their crisis.
- There is a $1 fee per year to help pay for the website and banking costs
Here is an Example
Mary is a mother of two. She has part-time work, which she drives to on Wednesday and Thursday. She struggles from pay to pay, has no savings but has third party car insurance - just in case. Mary joins PeerCover to enhance her resilience to unexpected shocks
Two years later, Mary is diagnosed with cancer. Whilst the public health system pays for Mary's treatment, it doesn't cover her loss of income over the two months whilst she is recovering and the bills keep coming...
Mary sets up a crowdfund campaign to cover her costs and tells her friends and family that donations will be 'matched' by the club (her subscription balance is still positive).
Mary raises $2,000 from 30 significant donors i.e. each person donated $50 or more. Assuming the crisis club has 5,000 members then Mary receives auto-donations totaling $15,000 (30 significant donors x 10 cent x 5,000 members). In total, Mary has raised $17,000.
What if Mary didn't get cancer, or any suffer any other personal crisis?
Mary is still eligible for 'matching' auto-donations as long as her subscription balance remains positive. Say numerous other members have had personal crisis and the auto-payments over time have exhausted Mary's initial subscription, then Mary would be 'down' $20 but she would have received email updates, notifying her how her auto-donations have helped others.
Two years later, Mary is diagnosed with cancer. Whilst the public health system pays for Mary's treatment, it doesn't cover her loss of income over the two months whilst she is recovering and the bills keep coming...
Mary sets up a crowdfund campaign to cover her costs and tells her friends and family that donations will be 'matched' by the club (her subscription balance is still positive).
Mary raises $2,000 from 30 significant donors i.e. each person donated $50 or more. Assuming the crisis club has 5,000 members then Mary receives auto-donations totaling $15,000 (30 significant donors x 10 cent x 5,000 members). In total, Mary has raised $17,000.
What if Mary didn't get cancer, or any suffer any other personal crisis?
Mary is still eligible for 'matching' auto-donations as long as her subscription balance remains positive. Say numerous other members have had personal crisis and the auto-payments over time have exhausted Mary's initial subscription, then Mary would be 'down' $20 but she would have received email updates, notifying her how her auto-donations have helped others.
Here is an Example on Steroids
Now suppose the crisis club has 50,000 members, Mary would receive auto-donations totaling $150,000 (30 qualifying donations x 10 cent x 50,000 members). Not only would Mary be able to pay her bills,she would be able to take a well deserved break and enjoy some quality time with her family.
Join Club Today
It doesn't take much to get things moving, just members (6 so far). New Zealand bank account holder can join today.