What is Lifetime Pet Insurance?
Ask any pet owner about their experience with a veterinarian today and they’ll tell you: The cost of vet bills have skyrocketed. To take just one example, the price of antibiotics for pets has increased an amazing 700%, according to VIN News Services. Not all pet care treatments have gone up this much, but veterinarian prices and fees have sored across the board.
That’s why more pet owners are opting to buy pet insurance, and many are turning toward lifetime pet insurance plans. A lifetime pet insurance will cover a significant portion of all your pet’s vet bills for as long as the pet lives. Lifetime plans tend to be more cost effective policies than those written for one or two years.
As with anything, it pays to do your homework and shop around for the best deals on lifetime pet insurance, and always be sure to read the fine print. Lifetime pet insurance policies can be especially useful if your pet develops a major illness, or needs expensive surgery, which can cost thousands of dollars.
The stark reality of rising pet care costs has thousands of pet owners opting for pet insurance, and many are considering lifetime pet insurance policies.
What types of Pet Insurance are available?
Whether you just brought home a new puppy or kitten – or if you have an older or more mature pet – there are pet insurance plans for you.
There are many different types of pet insurance plans. Each insurance carrier has their own rules, limitations and coverage options available. For a basic overview of coverage differences, you can check out our pet insurance comparison. Some lifetime pet insurance plans even cover chronic or breed based problems such as hip dysplasia. Most pet insurance plans limit their coverage to dogs and/or cats. There are also separate policies that can be taken out for Horses or livestock. Just like ‘human’ health insurance, pet insurance plans can vary greatly in cost, coverage, deductible and reimbursement rules and regulation.
For those who want a lower monthly fee and have the ability to provide some of their own ‘insurance’ in the form of a savings account there are plans with high deductibles or that only cover a certain percentage of costs.
Pet owners who prefer to have a fixed, known budget and no surprises can find a pet insurance plan that covers 100% of costs with deductibles as low as $50.
How much will Lifetime Pet Insurance cost?
The cost of pet insurance can vary based on pet type, breed, size and age. The monthly fees for lifetime pet insurance can range in between $15-$30 per month. If your pet lives to be 15 years old this would mean a lifetime cost of just $2700-$5400 dollars! When you consider that a single diagnostic MRI or a surgery can easily run into the thousands of dollars, this is very reasonable.
The benefit to lifetime pet insurance as opposed to term pet insurance is that your pet is covered from a young age all the way through the end of its life. This means any genetic or chronic diseases – including things like animal cancer – can be covered.
