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Insurance? Maximum Benefit vs. Lifetime?

Discussion in 'Dog Chat' started by Set_Nights, Apr 12, 2011.


  1. Set_Nights

    Set_Nights PetForums VIP

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    Blahs, I'm finally getting round to insuring Mia but it's all very confusing! What is the difference between a maximum benefit policy and a lifetime policy? Is it just that the MB one gives you a limit for a condition throughout their life (i.e. £2000 per condition EVER) and lifetime gives you a limit for a condition per year (i.e. £2000 per condition per year)?

    Should I be alright with a £7500 MB policy :confused:
     
  2. angelblue

    angelblue PetForums Senior

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    you want a lifetime one, so that if they get say a kidney disease as long as you pay the premiums they are covered for life.
     
  3. Set_Nights

    Set_Nights PetForums VIP

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    That seems to be the same for the Maximum Benefit ones too (like Virgin and Sainsbury's) just that there is a limit on how much you can spend on one condition?
     
  4. witcheswalk

    witcheswalk Banned

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    I have the Sainsubrys option 2 with the £7500 max benefit. It was a great monthly price compared to the lifetime ones. Yes, a lifetime policy ensures that you have the cover you need for the dogs lifetime, but you would be unlucky if you needed more than the £7500. It is the chance you are willing to take I guess and how much you can afford to pay. Any kind of insurance is better than having none, and most of the people around here dont seem to take out any. :(
     
  5. bagpuss4

    bagpuss4 PetForums Member

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    just been there myself i opted for John Lewis/ Axa life policy £19.45 a month £10,000 per year for my lab pup was the best quote i got 2nd was argos and pets at home. I went for life as was thinking if his hips went or got diabetes he'd be covered for life not till you spend £10,000 then that's it. The 10,000 was only 60p dearer than the 7000
     
  6. Dogless

    Dogless PetForums VIP

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    I would go with lifetime even if it costs more. I hope that Malmum won't mind me using Flynn as an example, but you only have to read her threads on Flynn's hips to realise that, without good insurance, she would have had to make a heartbreaking decision by now.

    Please get the best you can afford, you never know what is around the corner and it is too late to change once a condition becomes apparent.
     
  7. Set_Nights

    Set_Nights PetForums VIP

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    This is true :).

    It's these two policies I'm stuck between but I think I'll probably go for the John Lewis life cover one. Will cost me £27 a month for the £7000 though.
     
  8. Sled dog hotel

    Sled dog hotel PetForums VIP

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    Life time or lifelong, means that whatever you insure for total cover per year,
    will get re-instated at the beginning of each new year as long as you renew. It doesnt matter how many claims you have had the previous year, or what for, or even if you used the whole years allowance up, next year you will start again with the full amount. Each company usually has different monetary cover for varying amounts, obviously the higher the amount covered the higher the premium will be. This way though you will be covered for chronic complaints or complications.

    Some give you an amount per year, but they will only cover an individual condition or illness for 12mths from diagnosis or accident. which means should you get complications in the case of an accident, the dog developes a chronic ongoing illness etc. after 12mths they will not pay out anymore.

    The other type is usually an amount for each condition or illness ie 3000. On these there is no time limit usually, but once you have used the total amount up for that type of illness, then again you wont be paid out anymore. They do tend to lump illnesses too, like digestive tract conditions, eye disorders.
    A lot of policies also class anything the dog has two of as one. ie in theory you would think if your dog had a cataract then developed another in the other eye, then you would have 2 lots of 3000 to spend, it doesnt always work like that, some you will find that its 3000 total for eye disorders (ie both eyes count as one)

    Personally I would do for lifelong cover, with the best level of monetary cover that you can afford, 3000 might sound a lot, but if you take a diagnostic test like a CT scan for an injury a days stay and a specialist consultation that can clock up 1500 in no time, thats without if the dog needs an Op to repair anything that might be found. Also remember the bigger the dog the bigger the bill. They need more anesthetic, bigger doses of meds etc. Also anything that is on your records previously to taking it out will not likelly be covered as its classed as an existing condition, that goes if you change insurers later too, so its important to get a good one at the start. You will not be covered for illness for the first 14days either. although some cover accidents from the start.


    Hope this might help.

    Would just add a good indication of how compainies pay out is to ask your vet, if they accept direct payment, and if so who from. You may find that your vets do accept direct payment from some but not others, if which case its usually a good idea if they are good payers or not. The average vets not going to hang around for long periods to get paid, or have payment refused for that matter, and then have to chase the client.
     
    #8 Sled dog hotel, Apr 12, 2011
    Last edited: Apr 12, 2011
  9. Leah84

    Leah84 PetForums VIP

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    i would always opt for lifelong, even if you go for one per year and have it at 10k per year if the dog has an ongoing thing then yeah you may benefit for the first year but the rest you have to fork out of your own pocket. lifelong at least means they`ll renew every year and pay for the same ongoing condition. i`m with argos platinum which seems to be really good so far as i can tell :)
     
  10. higher benifits are notworth anything if they do not pay out!
    I am with Green bee for one JBi for the other! JBi have lower cover but pay out faster then the speed of light!
    Check online dog insurance revieews - this will give you accounts from peple who have claimed - and only EVER consider for life insurance - tis a minefield outthere! if you are unsure! ASK
    Dt
     
  11. AlbertRoss

    AlbertRoss PetForums VIP

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    Do be careful. Some companies make it look like they are offering lifelong cover when they only offer 'per condition' (what you refer to as 'maximum benefit').

    If you have lifelong cover you are covered for anything that hasn't been excluded for the whole of the animal's life, up to an annual maximum claim, providing you keep paying the premiums.

    If you have per condition cover they will pay out - for that condition only - up to the maximum amount. This can run over several years until you reach the maximum. It then stops. However, any other conditions will still be covered, each up to the maximum. Again you have to keep paying the premiums.

    Simply put, lifelong cover is best. Have a look at the site in my sig. It will show you who offers what type of cover irrespective of how they may try and trick you with their descriptions. Only companies that are known to be ethical, i.e. pay out when supposed to, are listed there.
     
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