Virgin Mobile offers 'Pink Slip Protection' for the unemployed

If you cringe each time your boss asks to talk to you in fear that this might be the conversation that ends in you losing your job, then you'll be happy to know that you're not alone. Fear has stricken many employees in the U.S. during this economic disaster, and it would be nice to know you have a little security. That's where Virgin Mobile steps in. No, the company can't secure your job, but it can at least help you out if you loose it.

According to a Reuters story, as of today, all Virgin Mobile subscribers have automatically been entered into the "Pink Slip Protection" plan. Car makers, like Hyundai, Ford, and General Motors, have offered similar assurance to car buyers, but this is the first cellphone provider to do so.

As long as you've been a customer for at least two months, and are eligible for unemployment benefits, Virgin Mobile will cover monthly bills, which includes taxes and surcharges, for up to three months to customers who have lost their jobs.

"If all the people who sign up for this become unemployed, they're losing money on it, but that's not going to happen," Roger Entner, Nielsen's head of telecom research, said in the Reuters story. "If you're there more than a year, they're good."

Virgin is unique because it focuses on prepaid plans, rather than long-term contracts. Customers don't have to commit, and Virgin Mobile, along with rivals like Leap Wireless and MetroPCS, have reported an increase in prepaid services since the decline of the economy.