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Pet Insurance 101: Here’s How It Works To Help You Protect Your Cat Or Dog In Singapore

Medical procedures for pets can sometimes be more expensive than treating humans. Here’s how pet insurance can help.

This article was written in collaboration with CIMB Bank. Views expressed in the article are the independent opinion of Product features are accurate at time of writing and are subject to change in future. Please refer to CIMB Bank’s website for the latest information and promotions.

Medical procedures for pets are notoriously expensive – in fact, pets’ medical treatments can even be more expensive than their owners!

This is why more pet owners are starting to recognise the value and importance of buying pet insurance to protect their beloved pet dogs and cats. Doing so would protect you from unexpectedly high costs in the event that your pet falls ill or gets into an accident.

What Can Pet Insurance Covers Your Pet For?

To illustrate the various aspects that pet insurance policies can cover your pet for, we will use CIMB My Paw Pal as an example.

Accidents: Your pet is going to be running about, exploring new things and occasionally, getting itself into some unfortunate accident. This is what you can claim for in the event of an accident:

– Medical expenses due to accident (up to $3,000 per period, co-insurance of 30% for each claim)

– Death due to accident ($1,500)

– Cremation or burial expenses due to accident (up to $300)

Third Party Liability: One risk you should not underestimate is the liability that you may have to bear because of mischief caused by your pet. If your pet were to attack someone, you may be legally liable for the medical bills incurred.

– Third party liability claims (up to $250,000 per period)

Loss Of Pet: If your pet dog is stolen from you, you can file a claim.

– Loss due to theft for dogs ($1,500)

Additional Benefits: On top of the benefits highlighted above, CIMB My Paw Pal also come with following features.

– Get immediate coverage upon approval, no medical checkup is required

– Enrolment from 12 weeks to 7 years old. Plan only expires at year 13

– No deductible on medical claims

CIMB My Paw Pal starts from as little as $70 per year for the Basic Plan. There are a total of 3 different types of plans to choose from with varying coverage amounts. In fact, CIMB is currently offering 20% off all CIMB My Paw Pal plans, on top of $20 cashback when you pay using a CIMB credit card. CIMB My Paw Pal year-end promotion ends on 30 December 2019.

To sum up the how CIMB My Paw Pal can help protect your beloved pet, you can check out this infographic by DollarsAndSense: