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Lifetime pet insurance is important, because some plans don’t offer lifetime coverage, however the wording can be confusing. The different kind of plans will be explained below. I will also explain what you should watch out for when looking for Lifetime pet insurance.
If you are looking to insure your pet, you want to make sure that when a problem happens, that it’ll be covered, anytime throughout the pets life.
There are different kinds of coverage:
We’ll look at the first plan example that is Lifetime pet insurance.
Many per year plans, offer a maximum amount that you can claim in a year. For example, a plan may allow you to claim up to $3000 per year. This means, that the following year, this amount will re-new and you’ll have another $3000. This is the best plan to get, because the condition will be covered each year throughout the pets life. This is the only kind of plan that is a true lifetime plan.
‘Per year, lifetime maximum ‘
Sometimes, however, the plan may say something like: $3000/ year maximum $15 000. This would mean that you’d get $3000, but once you reach $15 000 over the lifetime of the pet, your pet doesn’t have coverage. Thus, this isn’t lifetime coverage, but maybe be all your pet needs.
Per condition plans do not offer lifetime coverage.
‘Per condition’ plans are different. These plans will only cover your pets condition up to a maximum amount. There are different per condition plans.Watch to make sure that the conditions are covered throughout the pets life. For example diabetes has a large up front cost, but will cost you year after year. Higher per condition plans are a good choice for major problems.
‘Regular per condition’ plan covers your pet upto a maximum amount for whatever condition- say $3000. This often means that you could spend any amount in a year, but you can only spend upto $3000 per condition, and your pet gets sick with multiple conditions that year. That would be a pretty bad year…
‘Per condition, per year’- means that they’ll give you a certain amount per condition (ex. $3000) but the condition will only be covered for that year. After that year, if that condition comes back or has re-occurring costs they’re not covered. That condition isn’t covered any more. This is not a lifetime plan.
‘Per condition, maximum lifetime’- a spin on both of the above plans is the per condition. You will be covered per condition a certain amount for the year, (ex. $3000), but there will be a lifetime maximum for all conditions (ex. $10 000), so they wont pay more than that throughout the pets life for all conditions.
‘Condition Categories’- some companies have condition categories, meaning that they’ll have their own categories: examples include: Cancer, cardiovascular and respiratory, digestive system, urogenital system, musculoskeletal system, nervous system, eyes, ears, skin, endocrine system, blood and lymphoid system, infectious diseases.
So, if you pet gets cancer several times or has an ongoing skin problem… you may run out of coverage for that ‘category’.
The best plans to get are the maximum per year plans, because they renew every year, giving you coverage every year throughout your pets life.
I try and use the same terminology throughout this site so that it’s easy to follow from company to company because it can get very confusing when each company uses different words for the same thing.
Hope it all helps you to understand lifetime pet insurance and some pet insurance terminology.
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