Some reports say that for every life insurance policy taken out there are five pet insurance policies taken out.
For a start the insurances are very different. Life insurance only pays out when you die (unless you have built critical illness into the policy) whereas pet insurance takes care of all of the unexpected vet bills. To a certain extent I can understand why someone might think of pet insurance first as it doesn’t cost much and the benefits are clear. What I can’t understand is when couples and families think that pet insurance is worth spending money on but life insurance isn’t.
I don’t have pets but if I did I would probably want some help with paying vets bills. I do have a wife and children and I definitely wouldn’t want them to suffer if I died yet there are a lot of men and women in the same position who don’t want to spend money on life insurance. Why? It doesn’t cost much. The family needs to be looked after whether you are alive or dead.
The obvious answer to all of this is pet insurance AND life insurance. If one makes sense then surely the other should too? If someone is that convinced with the benefits of pet insurance then logic states that they would be falling over themselves to have some critical illness cover but somehow logic never comes first place.
Mon, May 18, 2009
Life Insurance