Is Dog And Cat Health Insurance Really As Stupid As It Sounds
This form of insurance isn't about paying you money if the pet dies; it's about giving the pet (or, more realistically, the person taking care of the animal) some money should you die. This option is particularly favored among the elderly, people who are fond of their pets, and know that there is a good chance that their animal will outlive them.
In essence, you pay a certain amount of money monthly to a trust, and, should you die before your animal does, the trust will then pay a certain amount of money monthly to the person designated your pet's guardian in your will. This is an especially desirable option if you already know who you want to look after your pet should you die--someone both you and your pet like--but you're concerned that they not be saddled with the cost of caring for your pet. This can be a wise investment choice for both you and Fluffy or Fido.
But dog and cat health insurance must be handled carefully. Don't purchase it and then start looking for someone to manage the money and care for your pet when you're gone; greed may cause your animal to get the rotten end of the stick. Instead, find someone you trust. Discuss the possibility of their taking care of your pet when you die. If it's someone you feel comfortable with, and someone your pet seems to genuinely like, then you may wish to let them know that you've purchased pet insurance to help with the costs of pet care after you're gone. Before that, however, it's never a good idea.
A similar idea, with similar problems, is a pet trust, where a certain amount of money is put into a special savings account, with the interest going to help pay for pet care after your death. The same problems exist here as with insurance--namely, finding someone you can trust to care for the pet--but there are some significant differences. For instance, with a trust, a large lump sum is generally required to start the trust, with the option of adding to it later on; with insurance, you make monthly payments.
Over time they can add up to more than the trust would cost, but the money is spread out. Plus, depending on the interest rate you've gone with, you can have to come up with quite a large sum of money to begin with, just to make those cat food payments. With insurance, you're guaranteed the amount you signed up for, no matter what.
But, in the end, it isn't as much about trust funds versus dog and cat health insurance as it is setting aside a little something ensure that your best friend isn't forgotten after you're gone.
Related Tags: pet insurance, dog insurance, cat insurance, dog and cat health insurance
Craig Thornburrow is an acknowledged expert in his field. You can get more free advice on pet insurance and pet medical insurance at http://www.petinsurancegroup.com
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- What you've always wanted to know About Choosing a Pet
Choosing pets is an important choice to make and is no easy task. It's not just a matter of looking - What Is Horse Cribbing
What is Horse Cribbing and How can I get my Horse to STOP?WHAT IS CRIBBING?Do you know that CRIBBING - My Cat's Late Night Visitors
My cat Spike is very laid back . He’s a lover, not a fighter, so it was with surprise that one - Pet Insurance for Dogs and Cats
Pet Insurance for Dogs and CatsIs it Worth the Money?Trying to decide if you should invest in a pet - Pet Relocation - Tips For International Pet Moving
Five Tips for Safe and Humane International Pet RelocationOwning or adopting a pet should be for lif - Why Should You Insure Your Pet?
One type of insurance that many people overlook is pet insurance. With pets often loved as part of t - Do You Have Pet Insurance? If Not, You Should
Most Americans know and understand the importance of health insurance coverage, but very few realize - Seals Need Pet Insurance and those Poor Polar Bears that Murder Them Too
We have sure seen a lot of global warming news lately and it is amazing that the polar bear species - The Necessity Of Dog Insurance
Unfortunately, in today's world it is not difficult for a pet dog to get injured. Dogs were not desi - The Lowdown On Protecting Your Pet With Pet Insurance
Do you own any pets? If so, have you ever thought about buying pet insurance for them? Believe it
Most viewed articles in this category:
- The Lowdown On Protecting Your Pet With Pet Insurance
Do you own any pets? If so, have you ever thought about buying pet insurance for them? Believe it - Veterinary Pet Health Insurance: Get the Best Care for Your Pet
Do you consider your pet a member of your house? So, why to step back and postpone its treatments, w - The Necessity Of Dog Insurance
Unfortunately, in today's world it is not difficult for a pet dog to get injured. Dogs were not desi - Show That You Care Your Dog With Dog Insurance
Illness, accidents, mishaps always comes uninvited and without giving any prior notice. This is tru - Do You Have Pet Insurance? If Not, You Should
Most Americans know and understand the importance of health insurance coverage, but very few realize - Pet Insurance for Dogs and Cats
Pet Insurance for Dogs and CatsIs it Worth the Money?Trying to decide if you should invest in a pet - Seals Need Pet Insurance and those Poor Polar Bears that Murder Them Too
We have sure seen a lot of global warming news lately and it is amazing that the polar bear species - Why Should You Insure Your Pet?
One type of insurance that many people overlook is pet insurance. With pets often loved as part of t - What you've always wanted to know About Choosing a Pet
Choosing pets is an important choice to make and is no easy task. It's not just a matter of looking - What Is Horse Cribbing
What is Horse Cribbing and How can I get my Horse to STOP?WHAT IS CRIBBING?Do you know that CRIBBING