When you think about your dependents, family, and loved ones, donít forget your pets. Just like the rest of your family, if something were to happen to you, they would need to be taken care of. Life insurance for pets is important if you have a pet with a long life span, and exotic pets, which would be hard to place in new homes, or for people with multiple pets in their family. Term life insurance is a simple solution to taking care of their needs after you are gone.
If youíre likely to outlive your pet and you want coverage in case you die prematurely, term life insurance for pets is a great option. The easiest way to make sure your pet will be safe after your death is to choose a trustee (or pet godparent). You can set up a traditional trust for a pet and provide instructions for the petís care and name a trustee to manage the money and petís care. You want to make sure you choose someone you truly trust to take good care of your pet. You can also designate a portion of a life insurance to go to the pet trust and other portions to go to other beneficiaries (children, partner, other family members).
With a traditional trust you will be able to decide who cares for the pet, amount of time spent on care, their food, training, vet, and much more. Itís the ideal plan because of the amount of detail room it allows. You can choose based on your plan how much time you will need, but with pets usually a 10 or 20-year plan will cover them.
To find out what coverage amount is right for you, contact us today. We will help you find the best policy for your whole family, including the furry ones! Our knowledgeable licensed agents can get you a free quote today.
Click below to request your free term life insurance quote or call us at 1-877-794-TERM.
Subscribe to our information course and get tips on choosing the best life insurance policy for you:
Term Life Insurance products are offered through TMFS Insurance Agency LLC, a separate company, affiliated with Financial Engines Advisors, L.L.C. (FEA), in states where licensed. TMFS Insurance Agency, LLC is under common ownership with FEA. Each entity is its own separate entity that provides services for its client independent from the other.