Pet owners know that animal care can be very expensive. This is why those with pets often buy insurance policies that include pet care options.
The life insurance benefit in the event of death may be paid to the animal for the rest of its life, so that the dog or cat does not become a burden on the new guardian. A pet owner can purchase a life insurance policy that provides enough money to pay for food, toys, and veterinary care.
A pet cannot be a direct beneficiary under life insurance policy because pets do not have bank accounts or social security numbers. However, a pet owner can set up a trust to provide pet care after the owner’s passing. The policy also indicates the new guardian of the pet.
Photos are from open sources.