What is lifetime pet insurance?

‘Lifetime’ does what it says on the tin. It’s an insurance policy designed to last your pet’s whole life.

Provided you renew each year, you can keep claiming if your pet develops a condition or illness, or if they’re repeatedly injured. Investing in a lifetime policy gives you peace of mind that your pet could be covered for life.

Because we believe that cats and dogs should have comprehensive cover for their entire lifetimes, this is the only type of policy we offer. In addition to our regular lifetime cover, we offer Lifetime Plus if you buy from us directly, for premium protection for your furry friend.

H3: Important things to know about lifetime cover

There are a few important things to be aware of. The first is that having a lifetime policy doesn’t mean the price will stay the same for your pet’s whole life. It can vary year on year, and tends to go up as your pet gets older. This is pretty typical.

It’s also worth knowing not all lifetime policies are the same. Some insurers use the term ‘annual limit’, which can mean one of two things:

• A yearly limit for all claims overall
• An annual limit per condition, which will pay up to a certain amount for each condition

We like to keep things simple. So we just have one overall limit that refreshes each year. This means you can claim for as many conditions as you need, up to the vet fee limit which you choose when you take out the policy.

How lifetime pet insurance works is fairly straightforward:

1. First you choose an annual vet fee cover limit. This should suit you and your pet’s needs. You might also have the option of deciding if you’d like to pay towards the cost of a claim – by adding either an excess or bill share.
2. If you need to claim, for example if your pet is injured or falls ill, the cost is deducted from your annual limit. You can claim as many times as required up to this chosen limit each policy year.
3. Each year when you renew, your chosen vet fee limit refreshes to the full amount.

Lifetime pet insurance: what else you need to know

It’s always worth familiarising yourself with the policy before you commit, to be sure it meets your needs. A few things to check

• See whether you’re required to pay anything towards the cost of a claim. This could be through an excess or bill share (AKA co-payment). This is compulsory with some providers, but not with our Lifetime Plus policy.
• Find out if there’s an excess for every condition you claim for during the year. The alternative is that you may just need to pay the excess once per policy year.
• See if the insurer will cover pre-existing conditions.

If you’re applying for a Lifetime Plus policy, we’ll consider all pet pre-existing conditions*. When entering your details, we’ll ask you about your pet’s health. It’s important to declare any existing conditions, otherwise they won’t be covered.

Not all insurance providers will cover pre-existing medical conditions. If they do, it’s important to read their policy wording. Different insurers may have different definitions for what’s considered a pre-existing condition. Policies are likely to vary in terms of what conditions are covered, whether there’s any additional excesses to pay, or other limits to your pet’s cover.

The price you pay for lifetime pet insurance depends on a variety of factors. These include things like:

• Your cat or dog’s breed
• Their age
• Any pre-existing conditions they have (if they can be covered)
• Where in the UK you live

Because it’s the most comprehensive type of policy, it could end up costing more than other types of pet insurance.

Whether you pay annually or monthly might make a difference too. Paying monthly helps to spread the cost, but may cost more overall, so be sure to do your sums.

When choosing pet insurance, it can be easy to go for the cheapest option. But it’s always worth considering what’s right for your pet, taking their specific needs into account. The right policy is the one which meets their needs, not necessarily the cheapest.

It’s likely that the cost of lifetime pet insurance will go up year on year. This is the trend across the board. These are the reasons renewal costs tend to rise:

• There’s a greater chance of illness as your pet ages
• Veterinary costs are going up with the increased cost of living
• New and sophisticated treatments are regularly introduced
• If you’ve claimed on your pet insurance policy, this will usually push up the cost

You’re paying to cover the risk that something might happen to your pet in the next year. As time goes on, the risk increases, and your premium reflects this.

As mentioned, lifetime pet insurance has a vet fee limit which resets when you renew each year. Pretty straightforward.

You might also see cover like time-limited or maximum benefit pet insurance. While generally cheaper, these policies usually have a time limit on how long you can claim for newly developed conditions. Or they may only be covered to a certain vet fee limit. So cover is a little more restrictive.

Check out our blog on how to choose the best pet insurance for your pet, which goes into more detail on the difference between lifetime, time-limited and maximum benefit pet insurance.

You may be wondering whether pet insurance is worth it, specifically lifetime cover for your pet. Only you can decide this. For many owners, it’s worth the cost not to compromise on the potential treatments available for their cat or dog.

Having pet insurance with a vet fee limit which refreshes each year could provide reassurance. This means your pet will be protected throughout their life for short-term illnesses, accidents and ongoing conditions.

For more thorough consideration of the issues, read our blog: is pet insurance worth it?