It was one of the ones on your list but I could have chosen from a fair few, that one was just easy to copy and paste. I thought I'd check a couple out as I researched and wrote a fairly hefty report on this subject a couple of years ago. I was willing to be pleasantly surprised if companies had changed their policies in the interim. Sadly the smoke and mirrors remain, this is why you must read the policy document very carefully and pin them down over the phone if you are in any doubt.

There are very, very few insurers who do true cover for life with the pot being replenished every year for a single condition. Petplan are the obvious ones and I found one other though there may be more now. The vast majority who advertise lifetime or lifelong cover do cap the amount per condition. It doesn't matter how long it takes to reach that ceiling so they will keep paying out year after year until you get there but once you have, that condition is excluded.

Admittedly, for the vast majority of pet owners a £7000 cap is more than sufficient. However, if your animal needs an expensive op followed by a lifetime of ongoing treatment the insurers will stop paying once you've reached the limit. You must also take into account that nasty little clause about related conditions as they'll be excluded too but you won't know about it until you try to claim.

That said, this type of insurance isn't 'wrong' and can be the best value for many people. I simply like the idea that pet owners should know how to compare quotes on a true like for like basis and don't get the shock of their lives when they've continued to pay good money in premiums.