Frequently asked questions^{^}

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WHAT PERCENTAGE OF MY VET EXPENSES AM I COVERED FOR?

We will reimburse you the Benefit Percentage selected by you which will be shown on your current Certificate of Insurance. For example, for an 80% Benefit Percentage we will reimburse you up to 80% of the eligible Vet Expenses (Excess and sub limits may also apply. The applicable Excess will be deducted from your benefit amount).

WHAT WAITING PERIODS APPLY?

The Waiting Periods that apply are: 30 days - for Conditions covered under the Illness and tick paralysis sections. 6 months – for cruciate ligament Conditions (may be waived on application, refer to the ‘Waiting Period’ definition on page 21). 6 months – for treatment covered under the Dental Illness Benefit section if you have chosen this option and (this benefit is shown on the Certificate of Insurance).

WHAT IS A PRE-EXISTING CONDITION?

It is any condition (illness or injury) or symptoms or signs of that condition occurring or existing in any form prior to the Commencement Date of your policy or during the policy waiting period. Pre-existing conditions will not be covered under the policy. For example, if your pet shows first signs of cancer prior to you taking out insurance cover or within the Waiting Period, then cancer will be considered as Pre-existing and all expenses incurred for cancer will not be covered. For more information, refer to the Combined Product Disclosure Statement, Policy Terms and Conditions and Financial Services Guide.

WHAT IS AN EXAMPLE OF A BI-LATERAL CONDITION?

An example would be, if your pet displays clinical signs of a cruciate ligament Condition in the left leg prior to the Commencement Date of the policy or during the Waiting Period (a Pre-existing Condition), Vet Expenses for a subsequent cruciate ligament Condition in the right leg will not be covered. (Refer to the ‘Bilateral Condition’ definition on page 18 of the Combined Product Disclosure Statement, Policy Terms and Conditions and Financial Services Guide.

WILL I HAVE LIFELONG COVER FOR MY PET?

Once your pet is accepted and as long as you continue to renew your policy, your pet will be covered for eligible Vet Expenses for life**. You can apply for Illness Cover as long as your pet is over 8 weeks old.

WHAT EXCLUSIONS APPLY?

As with most insurance policies, there are certain situations where you will not be covered. It is important that you read all of your policy documentation for full details of what is covered under each policy. For a list of General Exclusions refer to section 6 of the Combined Product Disclosure Statement, Policy Terms and Conditions and Financial Services Guide.

HOW DO YOU CALCULATE MY PREMIUM

New policies
Your premium is calculated using a combination of factors about you and your pet. These factors can affect the premium amount up or down depending upon whether we believe it increases or decreases the risk to us, such as the cover you have chosen, the excess selected, the benefit percentage applicable to the cover you have chosen, where you and your pet permanently live, your age and the species, breed, gender of your pet, the current age of your pet, the age you first insured your pet, and other factors related to our cost of doing business.
Renewing policies
Factors that are taken into consideration for renewal premium calculation include your pet’s age, breed, location, duration for which your pet has been insured, claims history, as well as data relating to the health of pets that are a similar age and breed. Each year we review premiums based on these factors to ensure we can accommodate the costs of possible treatment up to your annual benefit limit, in the event that your pet becomes injured or ill.

WILL MY PREMIUM INCREASE EVERY YEAR?

Yes, your premium will increase each year. This is for two main reasons:
Reason #1: Just like humans, the older our pets get, the more likely they are to have health hiccups. Cats and dogs age faster than we do, which means that their likely veterinary treatment costs go up rapidly each year too. As a result, the cost of insuring your pet will also increase as they get older.
Reason #2: Advancements in Veterinary Treatments.
The overall cost of medical treatment for pets has increased in recent years due to the increased availability of medical treatments and technology-enabled services and ongoing demand for these services. The treatment options and advancements in technology are providing us with great opportunities to give our pets a great quality of life for longer. While this is great news for the care of our pets, these treatments come at a significant cost. Year on year treatment costs increase, and this is factored into the cost of pet insurance. Please see ‘How do you calculate my premium’ for more information about calculation of premiums.

WILL MY PREMIUM INCREASE EVEN IF I DONT SUBMIT CLAIMS?

Every year, we review the cost of everyone’s insurance with regards to a combination of factors as well as claims inflation across all our insured pets. Increases in our claims costs due to increases in the range of available veterinary procedures, or due to an increased take-up of those services, impacts everyone’s premiums. Your premium takes into account the average cost of care for pets like yours. To provide an example of this, a pet parent with a three-year-old French Bulldog will be affected by the trends we see in our data from hundreds of three-year-old French Bulldogs that we insure, as well as the specific claims history of their own pet.

IS MY PREMIUM CALCULATED THE SAME WAY AS MY PRIVATE HEALTH INSURANCE?

No. Pet insurance does not work like health insurance. Health insurance is ‘community rated’, which means that everyone pays the same premium for their health insurance regardless of their individual health status, age or claims history. This is not the case for pet insurance. Health insurance providers are able to community rate health insurance because there are many other factors at play in the human health care system, such as Medicare and government rebates and subsidies, which is not the case with veterinary care and pet insurance. Pet insurance claim reimbursements are paid for purely by the premiums received by those who insure their pets. In order for each person to pay a fair price for their pet insurance, premiums vary depending on your and your pet’s risk factors.