You may think about estate planning for the first time when you embark on a career path. When you go through a benefits orientation session you may be told that your company provides you with a minimal amount of life insurance. The company pays for this base amount of coverage, and you have the option of paying for increased coverage. Many companies provide their employees with health insurance as well. Some of them pay for the insurance premiums in full, and other companies subsidize health insurance coverage for their employees and their employees’ families.
Your employer may provide access to affordable health care for you and your family. But what about the four-legged members of your family? You might not think about the costs that you could face if your pet, who is just as much a part of your family as your own children, was to get injured or become ill. You may be surprised to hear that many companies are now offering pet insurance to their employees. Veterinary Pet Insurance is the largest provider of pet insurance, and thousands of companies are offering their employees the opportunity to purchase insurance with subsidies and discounts through VPI.
In a recent interview, Deana Single, VPI’s Director of Group Accounts noted, “With more than 63 percent of U.S. households owning at least one pet, offering pet health insurance to employees is both a practical and unique benefit option. Each year we see a substantial increase in the number of large companies and associations that are looking for new and enticing ways to incentivize and compensate employees. By adding VPI Pet Insurance to their voluntary benefits package, employers can offer a fantastic incentive to pet-loving employees at no cost to the company.” Though VPI is the largest provider, other companies and organizations offer pet insurance as well.
For some people pet insurance will soften the financial blow if a pet were to ever need expensive treatments or surgery. However, for those of lesser financial means, the insurance could actually be the difference between the life and death of a pet.
Sanford M. Fisch
CEO & Co-Founder
American Academy of Estate Planning Attorneys, Inc.
9444 Balboa Avenue, Suite 300
San Diego, California 92123
Phone: (800) 846-1555
www.aaepa.com
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I think it’s great that estate planners and financial advisors are beginning to share the value of pet health insurance. If your dog or cat suffers a serious health condition like cancer or heart disease pet insurance can truly be the difference between life and death.