Pet Planning and Life Insurance

Pet owners in Florida sometimes ask about pet planning, life insurance, and how they can use their life insurance policies to protect their pets. While it is possible to use life insurance as a way to look after your pets needs after you are gone, it is not as simple as listing your pet as the policy beneficiary. There are several steps you will have to take in order to ensure that your life insurance policy benefit will be put towards caring for your animal after you are gone. Let s take a look at how this process works. Life Insurance Policies Most people are familiar with how life insurance works, but let s run down the basics anyway. First, when people sign up for a life insurance policy, they agree to pay a regular premium in exchange for a specified payout. Once the policyholder dies, the insurance company pays the policy payout to a specified beneficiary. The policyholder can choose who they want that beneficiary to be, and can change the beneficiary whenever they like. As long


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