This Nilgai needs a health insurance- Watch the video

Saw the Nilgai? Now tell me do you have a pet home? Do you love it?

I know people who treat their pets like their own baby. Now if you are one of them then you would enjoy this-

I am sure once in a while you have seen your little pet falling sick. So we will now talk, about taking care of your pet when it is sick or hurt. You don’t let it simply die, do you? You take it to a doctor. But problem arises when the cost of treatment sky rockets. That’s why we have something called a pet insurance. You haven’t heard of it, right? Neither did I a few days back. But it does exist.

It all goes back to the year 1890 when the first pet insurance was written by Claes Virgin. Virgin was the founder of Länsförsäkrings Alliance. At that time he focused on horses and livestock. In 1947 the first pet insurance policy was sold in UK. As of 2009, Britain has the second-highest level of pet insurance in the world (23%), behind only Sweden. In 1982, the first pet insurance policy was sold in the United States, and issued to television’s Lassie by Veterinary Pet Insurance (VPI). So that’s how it all began.

As of today the pet insurance industry has evolved many folds.

Pet insurance covers your pet cat or dog’s unexpected illness, accidents or injuries. In UK it may so happen that the insurance company may pay 100% of the medical cost. However it may also happen that a UK might choose to discount its policy thus offering customers a chance to pay the excess just like in case of motor insurance.

In US and Canada companies may pay off the benefit schedule or a percentage of the vet’s cost depending on the company’s policy.

Previously, most pet insurance plans did not pay for preventative care like vaccinations or elective procedures such as neutering. However these days some companies in Canada, the United Kingdom, and the United States are offering routine-care coverage, sometimes called comprehensive coverage. Dental care, prescription drugs and alternative treatments, such as physiotherapy and acupuncture, are also covered by some providers.

In India pet insurance is still in the nascent stage. Companies mainly provide insurance on cattle and livestock. Some of these companies are New India Assurance, Future Generali, Bajaj Allianz General and Oriental Insurance. This market comprises mainly of dog insurance and this benefit is availed mainly by the rich and the super rich. Some even feel that the policies are too basic in India and it does not make sense to take a policy of 25000/- to cover a dog worth 500000/-.

Whatever it is, I will say that unfortunate events do happen. They are unpredictable and hence we who love pets should opt for a policy. Our pets may fall sick any time. Thus prevention is always better than cure.

Sankha Chatterjee   sankha@rupeefy.com

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