Pet insurance launched for man's best friend
MANILA, Philippines — The Philippines has one of the highest dog populations in the world at 11.6 million as of 2020. The country also has the highest rate of pet ownership among the Southeast Asian countries at 83%, led by dog owners at 67%.
In the course of the pandemic alone, the interest of Filipinos in owning pets grew 88% compared with 2019 figures. With the continuous growth of the pet industry, a big chunk of this is limited to grooming, nutrition and the like. With a limited option for health care, pet owners are constantly challenged financially in order to provide for the medical needs of their fur babies.
This is the inspiration behind Cebuana Lhuillier’s Pet Insurance Basic, a microinsurance product especially made for fur babies which is expected to serve as a welcome respite for dog-owners saddled with large veterinary bills for checkups, procedures and medical emergencies.
“Dogs have always been loyal life companions, so it’s only right that we take care of them, especially during their health emergencies. With responsible pet ownership in mind, Cebuana Lhuillier is proud to introduce a product that’s both accessible and affordable for many of our kababayans who would like to provide their pet dogs with the best care possible, regardless of breed. This highlights our company’s commitment in providing the most relevant and reasonably-priced financial products that correspond to their needs,” said Cebuana Lhuillier CEO Jean Henri Lhuillier.
Dogs provide much-needed companionship, comfort, and happiness in the everyday lives of its owners. This unmistakable bond between pet and owner was further amplified by the more than two years of isolation among Pinoys, especially in the midst of the pandemic. In turn, pet owners are known to only provide the utmost love and care to these pets, whether in the form of pet food and accessories, veterinary consultation, and medicine.
Pet Insurance Basic provides reimbursement from any veterinary treatment or confinement in a vet hospital in the event of an accident or disease, as well as burial assistance in case of death. Pet Insurance also offers a liability coverage feature for when the insured dog causes damage outside the owner’s home. Aside from that, owners are also insured for personal accidents for up to P25,000.00.
For as low as P1,100.00 or P3 per day, you can get all of these insurance benefits and features for a one-year coverage.
“Being a responsible pet owner is a commitment to provide for our pet’s needs and it consists of more than simply feeding and playing with them. Part of responsible pet ownership is addressing their physical, social, emotional, and mental well-being for the remainder of the pet's life. Our pet insurance aims to cover the risks that are involved in owning dogs, not just to protect them but to protect pet owners as well,” said Jonathan Batangan, first vice president and group head of Cebuana Lhuillier Insurance Brokers Inc.
The introduction of Pet Insurance Basic is a part of Cebuana Lhuillier’s push on producing innovative products that tend to the needs of the general public, especially those covering their protection requirements.
