Products Offer More Extensive Coverage and First Feline-Specific Plan
Brea, Calif. (March 1, 2010) — Pet owners nationwide will soon be able to protect their pets with four innovative new pet insurance products from the nation’s oldest and largest pet health insurance provider, Veterinary Pet Insurance Co. (VPI).
Beginning today, the new products, which have been available on a trial basis in Arizona and Texas, will roll out state-by-state to the remainder of the country. California, the state with the largest number of VPI policyholders, will launch on March 11. VPI’s new products include the Feline SelectSM Plan, Injury Plan, Medical Plan and Major Medical Plan, each carefully designed with specific pet owner needs in mind. Major Medical is VPI’s first plan to offer benefits for specific hereditary conditions.
VPI’s Feline Select Plan is the first pet insurance plan of its kind. This zero-deductible coverage reimburses for the testing and treatment of the 15 medical conditions most common to cats, according to claims data tracked by the Company. Conditions varying from chronic kidney failure to upper respiratory infections carry a per-term (12-month) $600 maximum allowance for each condition, equaling $9,000 in annual benefits for a premium of approximately $11 per month. Ideal for cat owners with indoor/outdoor or multiple cats younger than 10, the VPI Feline Select Plan eases the economic worry associated with veterinary visits most caregivers make over the course of their cat’s life.
Dog and cat owners primarily concerned about accidental injuries (broken bones, poisonings, foreign body ingestions, etc.), can enroll in the VPI Injury Plan, an insurance policy that boasts a $14,000 per-term maximum benefit allowance and reimburses for conditions brought about by accidents. The Injury Plan carries an annual deductible of $250 and has no enrollment age restrictions. At approximately $14 per month, the Injury Plan offers affordable coverage for pets that are too old to enroll in or can’t qualify for full medical plans. “Certain pet owners are worried about catastrophic accidents more than the possibility of illness,” explained Dr. Carol McConnell, vice president and chief veterinary medical officer for VPI. “This plan answers their concerns as well as enables pet owners with pets of any age to offset the costs of treating unexpected injuries.”
Two comprehensive medical plans designed to reimburse for the testing and treatment of both injuries and illnesses round out VPI’s new product roster. The VPI Medical Plan (for dogs and cats) covers a full spectrum of medical conditions – everything from lacerations to lymphoma – and offers pet owners flexibility in premium pricing with multiple annual deductible choices ($100, $250, $500, and $1,000). Pet caregivers opting for the highest level of injury and illness protection have the VPI Major Medical Plan to choose from, the Company’s flagship insurance product. Priced higher than the Medical Plan but with the same deductible options, Major Medical offers double the reimbursement allowances than its lower-priced counterpart. In addition, annual benefits for select hereditary conditions are included in Major Medical ($250 for diagnosis/$500 for surgical treatment each term) after the first year of enrollment.
Each of the four product offerings can be complemented with VPI’s existing CareGuardSM plans, coverage that provides straight reimbursement (no deductibles) for a portion of costs of more than a dozen routine care procedures (vaccinations, physical exams, etc.). “Adding CareGuard coverage to any of the medical plans fiscally prepares pet owners for the expected veterinary costs, such as preventive care, as well as the surprise medical care costs they will experience during the lifetime of a pet,” added McConnell. “These unexpected costs can be considerable, and our plan combinations exist so that pet owners can afford the absolute best care their pets deserve.”
With pet health insurance, policyholders are reimbursed a percentage of eligible costs they incur during a veterinary hospital visit. So that policyholders know exactly what is covered and what is not, VPI pays according to a benefit schedule, a list of eligible conditions and their maximum annual reimbursement amounts. Policyholders are able to visit any licensed veterinarian in the world; no managed hospital networks are involved. Policy pricing is determined by species, age of pet, size of a canine pet, state of residence, deductible chosen (if applicable), and the plan selected.
About Veterinary Pet Insurance
With more than 475,000 pet insured nationwide, Veterinary Pet Insurance Co./DVM Insurance Agency is the nation’s oldest and largest pet health insurance company and is a member of the Nationwide Insurance family of companies. Providing pet owners with peace of mind since 1982, the company is committed to being the trusted choice of America’s pet lovers and an advocate of pet health education. VPI Pet Insurance plans cover dogs, cats, birds and exotic pets for multiple medical problems and conditions relating to accidents, illnesses and injuries. Optional CareGuardSM coverage for routine care is also available.
Medical plans are available in all 50 states and the District of Columbia. More than 2,000 companies nationwide offer VPI Pet Insurance as an employee benefit. Policies are underwritten by Veterinary Pet Insurance Company in California and in all other states by National Casualty Company, an A+15 rated company in Madison, Wisconsin. For more information about VPI Pet Insurance, call 800-USA-PETS (800-872-7387) or visit petinsurance.com.