Against an uncertain future caused by COVID-19, a recent survey by PolicyAdvisor.com found that 63% of respondents now think that owning life insurance is more important than it was pre-pandemic. Moreover, 77% of respondents were willing to cut discretionary expenses like entertainment and dining out to have life insurance and protect themselves and family members from unexpected financial hardship. Yet according to Jiten Puri, founder and CEO of PolicyAdvisor.com, the biggest reason preventing people from buying life insurance is “their perceived inability to buy it online,” as well as an unawareness of online tools to help them compare plans and premiums.
How does this relate to veterinary care?
While the PolicyAdvisor.com survey did not ask people about their current attitudes toward pet insurance, the survey nonetheless served to reveal a dramatic shift in how people now think about the overall subject of insurance. This makes it difficult to imagine the shift doesn’t include thoughts about pet insurance when the core purpose of life insurance is to protect family.
Since most pet owners now think of pets as family members, it is not unreasonable to presume that pet owners would want to include pet coverage as part of their insurance planning (or at least think about it) to hedge against unexpected medical expenses. The benefit of coverage, of course, empowers pet owners to make health care decisions based on what is best for their pets versus being constrained by finances, and this naturally helps veterinary practices in their goal of providing the best care veterinary care possible. Yet the same reasons that prevent people from buying life insurance are the same reasons why many pet owners don’t buy pet insurance:
- They don’t know they can buy it online.
- They don’t know of education resources to quickly answer their pet insurance questions.
- They don’t know of available tools to help them compare plans and premiums.
With respect to life insurance, Puri stresses, “There is a clear need for consumer education,” and the solution is the same for pet owners. When pet owners know about online tools and resources to help answer their pet insurance questions, compare plans and premiums, and make online purchases, they can make informed pet insurance planning decisions and be better prepared for uncertainty.
These are the core reasons behind the creation of the pet insurance education resource PetInsuranceInfo.com. And given the above information, now is a good time to remind clients that they have free access to this resource if you’re a practice with PetInsuranceInfo.com integrated into your custom WebDVM veterinary website.
PetInsuranceInfo.com is a free integration feature for all WebDVM websites
Reflective of LifeLearn’s core commitment to advance pet health and education worldwide, PetInsuranceInfo.com helps pet owners learn about the value of pet insurance and the questions they need to ask before purchasing a policy, and guides them through the quote process once they’re prepared to make a purchase decision that fits their budget.
While PetInsuranceInfo.com is a free service accessible to pet owners from our consumer site, the benefit of integrating PetInsuranceInfo.com into a practice’s WebDVM website is that pet owners can feel confident that the information is reliable and trustworthy since it’s coming directly from their veterinary provider. And practices have the unique ability to select which insurance providers they wish to support.
Don’t have PetInsuranceInfo.com?