Pet Insurance Policies: Making Choices and Adding Riders

May 18, 2011 | By

Man has gone a long way. The time when he had first encounter with fire has been buried deep down beyond history pages. There have been a lot of innovations brought about by his genius and determination to make life easier, safer, and well longer. Needs are not the only ones flooding the market because luxuries and other miscellaneous aspects have gradually become a way of life. Cable television is continually challenged by satellite TV. Mobile phones are always showcased in better and more advanced models. Nowadays pets have even matched the quality of life man has. Insurance policies have been allotted to ensure that their welfare is safeguarded.

There are a lot of concepts revolving around pet insurance so if you plan to avail one for your beloved buddy make sure that no stones are left unturned. There are some technical and legal terms that you have to be familiar with. Come on and take some time to bag a few.

There is a document known as the benefit schedule which is made by the pet insurance companies. This contains the list of allowances that are to be paid for after a known and certified diagnosis and treatment. A deductible is an amount wherein payment rests on the policy holder’s shoulder. This covers the charge for the veterinary services accessed. An exclusion is a condition that is not part or is excluded from the plan or insurance policy.

These are just the basic elements of your pet insurance policy so let’s start going deeper. There are policy limits like annual, per-incident, and lifetime which when used up to the brink no longer allows payment of claims. Pre-certification is executed when a certain pet owner gives a request regarding the treatment needed by his pet in order to know if such treatment will be covered and to what extent will it be implemented. There are health conditions that are labelled as pre-existing meaning they have happened or have been incurred way before the pet insurance policy came into being. There are some pre-existing conditions that are given eligibility for coverage as long as it has been cured or a specific time frame elapses. Coinsurance is the portion of your claim which you are tasked to pay for before established deductibles are applied.

Pet insurance is a sure fire move to ensure the welfare of your pet but you must also have an idea of other options that you can tap on. You can check with your reliable Vet as some health facilities can help you avail discounted wellness and preventive packages such as neuters and vaccinations. You can also take advantage of discounted programs that may include 50 percent on animal supplies and 25 percent for diagnostic and treatment services.

Another thing you can rely on is the existence of humane and non-profit organizations which are ready to lend a financial boost for owners who are in need. Although there are affiliations that engage in such activities it is the responsibility of the pet owner to have savings to rely on when their pets are placed in emergency life-threatening situations.

Pet insurance just like other insurance programs need proper deciphering and evaluation. If you see it fit that in the present condition of your pet such health plan is needed and you have the necessary resources then go for it. Your pets are part of the family so treat them as one.

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Category: Pet Insurance

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