Pet Insurance 101 A Guide to offering Pet Insurance as a Voluntary Benefit *Pet Insurance is underwritten by American Pet Insurance Company. Please visit www.americanpetinsurance.com to review all available pet health insurance products. PP-APIC-V1-022019
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Pet Insurance 101A Guide to offering Pet
Insurance as a Voluntary Benefit
*Pet Insurance is underwritten by American Pet Insurance Company. Please visit www.americanpetinsurance.com to review all available pet health insurance products. PP-APIC-V1-022019
Why Offer Pet Insurance as a Benefit?
To protect ourselves financially against the unexpected, we have health insurance, car insurance, home-owners insurance, etc. Pet insurance is no different! The care available to pets is often on par with human medical care and because of this veterinary costs are on the rise.
Studies show that more than 57%* of employers will offer pet insurance as a benefit in 2021. – Recruit and retain top talent by offering one of the most requested voluntary benefits.
Employers are recognizing that by offering pet insurance they can help protect their employees’ financial well-being and give them one less thing to worry about.
*Source: Willis Towers Watson Survey
2PRIVATE & CONFIDENTIAL
Pet Ownership in the US
68% of US households own a pet—almost 85 million homes
183.9 million pets owned $69B spent on pets in 2017, with veterinary care
being $17B+ 95% of pet owners view their pets as family
members
Source: American Pet Products Association; The Harris Poll 2015
3PRIVATE & CONFIDENTIAL
How Does Pet Insurance Work?
Choose a PlanGet
TreatmentFile
a ClaimGet
Reimbursed
It only takes 5 minutes! Simple underwriting, no medical records to
enroll, instant approval, 30-daymoney back guarantee.
When the pet becomes ill or injured, the owner can take them to any
licensed veterinarian of their choice
The client pays their vet and then submits a claim. There is no need to send us medical records unless we
ask for them.
Most claims processed within 5 days for quick reimbursement.
Get reimbursed 70%-90% of the actual vet bill after an annual
deductible.
4PRIVATE & CONFIDENTIAL
Why Choose Pets Best?
5PRIVATE & CONFIDENTIAL
We make it easy to offer Pet Insurance No minimum employee size required to enroll No fees to the employer No medical records required to enroll Online customer management tool and mobile app Flexible billing options
– Direct bill or payroll deduction*– $24/year savings when signing up for payroll deduction
Preferred employer group pricing – 5% Discount plus another 5% if they have 2+ pets**
*Direct billing will result in a $2 transaction fee to employees. Minimum employee participation required for payroll deduct. No minimum participations for direct bill. ** 5% discount applies to BestBenefit plans; available in most states. Additional 5% discount if insuring more than one pet.
6PRIVATE & CONFIDENTIAL
Companies Are Taking Note
Pets Best offers pet insurance for Fortune 500 companies through leading partner connectivity and technology
Pet customer demographic – based on Pets Best customer survey:
Annual Coverage Limit Options $5K I $10K I Unlimited $5K I $10K I Unlimited $5K I $10K I Unlimited
Deductible Options$50 I $100 I $200 $250
I $500 I $1,000$50 I $100 I $200 $250
I $500 I $1,000$50 I $100 I $200 $250
I $500 I $1,000
Reimbursement Levels Options 70% I 80% I 90% 70% I 80% I 90% 70% I 80% I 90%
Main Exclusions: Pre-existing conditions, bilateral conditions, repetitive activity, non-veterinarian expenses, elective/preventative procedures, wellness care (available under wellness) and parasites. Not all exclusions are listed, please refer to your policy form for a complete list.Plans are subject to waiting periods: 3 days for injuries, 14 days for illnesses, 6 months for Cruciate Ligament events
Comprehensive Wellness Add-On Plans
PRIVATE & CONFIDENTIAL A3
Coverage (pays up to the following limits, per year, with no deductible)
EssentialWellness $16/Month*
BestWellness$26/Month*
Spay/Neuter – Teeth Cleaning $0 $150
Rabies $15 $15
Flea/Tick Prevention $50 $65
Heartworm Prevention $30 $30
Vaccination/Titer $30 $40
Wellness Exam $50 $50
Heartworm Test or FELV Screen $25 $30
Blood, Fecal, Parasite Exam $50 $70
Microchip $20 $40
Urinalysis or ERD $15 $25
Deworming $20 $20
Total Annual Benefits $305 $535
*Plan pricing varies in Washington State
Accident Only Plans
PRIVATE & CONFIDENTIAL A4
CoverageDogs
$9/Month*Cats
$6/Month
Designed to cover accidents like broken legs, snake bites, accidentally swallowed objects, etc.
Annual Coverage Limit $10,000 $10,000
Deductible $250 $250
Reimbursement Levels 90% 90%
Guarantee Issue: Pets with the following pre-existing conditions are not eligible for illness coverage, but can enroll for Accident Only Coverage: Addison’s Disease, Cushing’s Disease, Diabetes, Cancer, Feline Leukemia or Feline Immunodeficiency VirusMain Exclusions: Pre-existing conditions, bilateral conditions, repetitive activity, non-veterinarian expenses, elective/preventative procedures, wellness care and parasites. Not all exclusions are listed, please refer to your policy form for a complete list.Plans are subject to waiting periods: 3 days for injuries