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Petshealth's Quickcare coverage for cats provides coverage for an unlimited number of accidents and illnesses up to $2,500 per illness category, up to a maximum lifetime illness coverage of $30,000. Industry leader Veterinary Pet Insurance offers two levels of coverage that pay 50% to 90% of covered treatment costs after a $50 deductible. Here’s how the numbers work out. The scene: You've been waiting patiently but nervously in the reception area at your local veterinarian. Your beloved Brownie — not merely man's best friend in particular for the last nine years — has been in there for 45 minutes. When the good doctor finally emerges, she calmly explains to you that the cost of insuring a pet is pretty reasonable. You're not alone. By some accounts, the U.S. market for pet insurance has been growing at an annual pace of 45% over 5 years, totaling $88 million in 2002 according to the research firm, Packaged Facts. Deductibles, exclusions and surcharges The policy will pay 90 percent of the plan's Benefit Schedule Allowance for eligible expenses, per incident, during each policy term after the deductible for eligible expenses. Two accident and illness plans are offered for dogs and cats to the veterinarian for vaccination and preventive care. In addition, avian care is increasing. In 1991, consumers spent $37.7 million on veterinary medical expenditures for birds, increasing to $140 million by 2002. Pet insurance as an employee incentive But if you’re the type of person who would do anything to save your pet, including spend thousands of dollars on medical treatments, pet insurance might be a preferable alternative to going into debt. An enterprising group of students won the 2003 Annual Wharton School Business Plan Competition, not with a technology plan or a biotech venture, but with a simple business plan highlighting the large opportunity for growth that exists in the pet doctor world. Vet costs have risen 73% in the past five years, to $19 billion. The older your animal, the more you’ll have to shell out in premiums. Some insurers don’t cover pets older than 9, while others levy a. Vp et isurance caim for - Vli pft insursnce flaim fotm. |
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