Just like medical indemnity insurance for people, policies for companion animals have age limits. (Yonhap)
SEOUL, July 6 (Korea Bizwire) — The number of companion dogs and cats in South Korea was estimated at about 5.98 million and 2.58 million, respectively, in 2019.
Despite such huge numbers, insurance policies for companion animals have yet to become the norm, with pets’ illness and injuries becoming big burdens for the families who take care of them.
The lack of a comprehensive medical insurance system also leads to the abandonment of these animals.
The situation is worse for stray cats and dogs that are adopted.
Those want to adopt a homeless cat or dog and protect the animal with companion animal insurance have to jump over several hurdles, among others, determining the actual age of the pet, which is a prerequisite to subscribe to companion animal insurance policies.
There are even rumors that homeless cats and dogs are not allowed to subscribe to companion animal insurance policies. These rumors, however, are groundless.
Just like medical indemnity insurance for people, policies for companion animals have age limits. In general, companion animals younger than 8 years old are allowed to subscribe to insurance policies, and can be protected until 20 years old.
Some insurance products do not accept applications for rescued cats and dogs, but not all.
Even in cases where the age of homeless cats or dogs is uncertain, pet owners can subscribe to an insurance plan using the age presumed by a veterinarian, which is estimated on the basis of the state of the animal’s teeth.
J. S. Shin (js_shin@koreabizwire.com)
