# RainyDayPal > Subscription\-based life maintenance coverage for employees ## At a glance | Field | Value | | --- | --- | | Category | Specialty Solutions | | Type | Solutions Provider | | Region | NA | | Headquarters | Des Moines, Iowa | | Founded | 2021 | | Stage | Startup | | Employees | 1-10 | | Funding | Seed | ## Overview RainyDayPal is an employee financial wellness benefits platform targeting mid-market employers in North America. The company provides a subscription-based benefit that functions as an insurance-like vehicle to cover unplanned everyday expenses -- commonly described as life maintenance coverage -- helping employers reduce the financial stress that can drive healthcare costs and employee turnover. The platform delivers a fully customizable benefit where employees select their own coverage categories (such as medical out-of-pocket, dental, home, auto, and legal expenses), while employers pay a single monthly subscription per headcount. Claims are processed and paid within 24 hours through a mobile app, distinguishing it from traditional supplemental health or emergency savings programs. RainyDayPal was founded as a minority-owned business in Iowa and was selected for the Global Insurance Accelerator 2022 cohort, one of eight companies chosen from a competitive applicant pool. The company targets what it describes as "America's mass middle class" -- workers who lack the savings buffer to absorb irregular but predictable life expenses. ## Products & services ### Life Maintenance Coverage A subscription-based employee benefit that provides coverage for unplanned but recurring everyday expenses, functioning as an insurance-like financial protection vehicle. **Key features:** - Customizable coverage categories per employee \(medical, dental, home, auto, legal and other expense types\) - Single employer monthly subscription with per\-employee pricing - Mobile app\-based claims submission and management - 24\-hour claims payment processing - Designed as an employer\-paid benefit with employee\-selected coverage options *Target users:* Mid\-market employers and HR benefit administrators seeking to supplement traditional health insurance with financial wellness coverage ## Category & focus - Subcategories: Employee Financial Wellness, Supplemental Benefits, Embedded Insurance - Insurance verticals: Group Benefits, Health - Target customers: Employers ## Notable customers - Mid\-market employers focused on employee retention - Employers seeking to reduce costs tied to employee financial distress - HR teams expanding benefit offerings beyond traditional health insurance ## Links - Website: - Directory profile: - Linkedin: --- *Last updated: 2026\-06\-16*