This is interesting, a form of insurance for professional baseball players and others. As I understand, after player makes MLB and earns $1.6mm, 10% of his income goes into a pool for distribution among other pool participants who don't make it. Not sure if there is a cap on how much a player pays in. Participation is voluntary, players have to opt in themselves and they would likely join a pool of players with similar payoff profiles.
I think there is at least one pool in baseball with a player that has reached.
Lot of ways to look at this.
Home insurance - Protection recognizing the low probability of a substantial loss.
Income Pooling- Protection recognizing the high probability of insubstantial income (depending on the characteristics of a pool and individual player)