I think UBI would go along way in replacing the welfare system in any country. The amount of waste the bureaucracy that multiple levels of multiple organisations bring to the current system does significantly more harm than good. One benefit I see for individuals in the current system is removing the stigma behind receiving/applying for benefits; as everyone would be receiving this.
Beyond that the UBI provides opportunity if you know you have a certain amount coming to you regardless with no stalled wait period or chance of denial, you can take risks.
- You can accept that new position without the fear it may not work out
- You can make plans for upgrading in post-secondary
- Maybe you know feel you have more disposable income to inject back into the economy
- Start-up a business, knowing you have something backing you for a while
I like that you broke down some of the options. Hadn't even thought about how it would be much easier to go back to school. You talk about trying a new position. I think that the key is that people won't be afraid to quit. I really think that we need more people quitting. So many people stay at jobs they don't like because they are afraid that they won't find another job and they'll end up with no money. UBI would help minimize that fear. People doing jobs they don't like greatly reduces our productivity as a society. They'll always try to do the bare minimum.
However, I only consider it acceptable if it replaces all other welfare, including heath-care-related welfare, and I suspect that this will never be politically possible. I'd also like it to result in an elimination of all work-related regulations such as minimum wage, since with UBI there should be no excuse that people are being forced to work and therefore the government needs to protect them.
What about people with disabilities, for example? Wouldn't that be considered welfare? I mean, what about people who literally can't make more money themselves? I feel like healthcare is a separate issue. $10,000 a year is not going to cover your healthcare if you go to the hospital a couple times.