Meritz Fire & Marine Insurance Launches 'Petpermint Puppy & Dog' for Lifetime Coverage of Pet Medical Expenses

Meritz Fire & Marine Insurance launched the long-term pet insurance "Petpermint Puppy & Dog," which provides lifetime coverage for medical expenses of companion dogs, on the 22nd.

[Asia Economy Reporter Oh Hyung-gil] Meritz Fire & Marine Insurance launched a long-term pet insurance plan called ‘Petpermint Puppy & Dog’ on the 22nd, which provides lifetime coverage for medical expenses of companion dogs.

It is available for dogs aged from 3 months to 8 years old and provides coverage up to 20 years old, with renewals every 3 years to reduce the burden of premium increases and underwriting rejections.

Insurance premiums are applied by classifying dog breeds into five groups based on average medical expense levels, and customers can choose between 50% and 70% coverage rates. Enrollment is possible regardless of whether the dog is registered, and a 2% discount on premiums is available when providing the pet registration number.

Basic coverage includes patellar luxation and skin and oral diseases, with annual coverage of up to 5 million KRW each for inpatient and outpatient medical expenses (including surgery), and liability coverage up to 10 million KRW per accident.

For example, under the C Plan, which includes breeds such as Maltese and Pomeranian, a 0-year-old dog with 70% coverage, 5 million KRW for inpatient and outpatient medical expenses, and 10 million KRW liability coverage has a monthly premium of about 42,000 KRW.

Additionally, an automatic insurance claim system has been introduced, allowing insurance claims to be automatically processed without complicated procedures when treated at approximately 1,600 affiliated veterinary hospitals.

A Meritz Fire & Marine Insurance official stated, "This is a genuine pet insurance that greatly reflects the actual subscription needs, such as concerns about medical expenses, through in-depth interviews with dog owners."

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