Love letter to Pet Lovers
During Covid period, pets gradually entered our lives and formed a part of us. We enjoyed the cuddle of the pet which bond us much closer together, however owning a pet in Singapore was so costly.
From the adoption price depending on the breeds, vaccinations, health check, grooming, toys to food, all these would cost you quite a fair bit annually. Not forgetting your treats to your pets birthday cake party and their paw pals.
One section that we often overlooked will be insurance. You then will start to ask, do I need to buy pet insurance? What is the coverage and is it really worth it?
I would then asked, would you rather spend hundreds to save thousands or spend none but pay thousands.
In Singapore, even though pets have been living with us for a long period of time but this is still a niche market for insurance providers.
The plans offers by various providers provides adequate coverage with co-insurance and deductibles to be paid by owner.
These coverage generally includes accidental, illness, surgical and third party liabilities locally. However, there are certain eligibility criteria for purchases and not all breeds will be accepted.
There are No Claim Discount to enjoy saving up to 15% on annual premium. The entry age can be as early as 8 weeks old and may be renew on yearly term beyond 13 years old.
While the clinical and medical fees are beyond our control, we certain can minimize our out-of-pocket expenses and our policy premium.
In summary, the pets insurance are slightly similar to our integrated shield plan with limited benefit.
This post is for sharing purposes and do not constitute to product recommendation. Whether if it is worth for purchase, please seek advice to your trusted advisor or service provider.
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
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