Pet insurance waiting periods exist to prevent fraud and are required for all newly enrolling pets or new pets being added to an existing policy.
What is a waiting period? The waiting period is a short period of time at the beginning of the policy when coverage is restricted.
Let’s say your cat has a $200 annual deductible: Year 1: You don’t receive a claim reimbursement for an accident or illness = $50 credit Year 2: Still no claim reimbursement = $50 credit ($100 total) Year 3: Your cat gets sick and you submit a claim for $1,200. Your $200 deductible is reduced to $100 because of the Healthy Pet Deductible credit. Year 4: Your deductible resets to $200 because the credit was used When your pet’s annual deductible is decreased to $0, that’s as low as it can go. Your Healthy Pet Deductible credit is automatically applied when you’re eligible for reimbursement.
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