Lose Your Job, Return the Product

April 22, 2009 12:00:00 AM PDT
A program that started with car companies is now the latest rage in corporate America. "Automakers had to do something to get people into the showroom and they realize that the traditional incentive programs are no long working as effectively," said Jesse Toprak with Edmunds.com.

So they came up with job loss protection plans and other businesses are following suit. Book a flight on JetBlue, lose your job, get your money back.

If someone buys a condo at this Seattle development and gets a pink slip. "We'll pay for 6 months of their mortgage payments," said developer Jeffrey Cook.

And if you rent at this Portland apartment building and lose your job: "You can go ahead and tear up your lease."

Au Pair Agencies have instituted new job-loss guarantees. It was the deciding factor for Krysti Zeiger and her husband: "He was like, ok, sold, that's all it took. He was like we can get our money back."

The plans are still relatively new and appear to be having the desired effect: for instance more people are visiting car showrooms: "There's a slight increase in sales but these programs have not yet translated into that magic solution," said Toprak.

Sales may not be skyrocketing, but returns aren't either.

Not one car has been given back and not one payment picked up because of a job loss. That may change though, as unemployment is predicted to rise.

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