The hit movie this summer "The Secret Life of Pets "might make you think about your furry friend more than usual lately. After all, pet owner would not want the best for their pet if the unthinkable happened? Maybe you even want to leave your pet in the lap of luxury, such as fiction and Duke Max in the film.
Leona Helmsley is perhaps the most notorious example of someone leaving a pet well -Aimé a small fortune. she bequeathed $ 12 million to her dog Trouble when she died in 07. (a court later reduced that amount to a mere $ 2 million.) this problem leaves fortune to live the rest of his days in a hotel, where he was supported by a paid tutor and had an annual allocation of $ 100,000 for full-time security, $ 8,000 for grooming and $ 1,0 for food.
Most of us do not have that kind of money to let a pet. Thus, life insurance can provide the funds to leave Fluffy live in comfort?
In general, insurance companies (including Erie Family Life Insurance) will not let you name a pet as a beneficiary of life insurance. Animals can not be the beneficiaries of life insurance because they are considered property and because they are unable to sign legal documents. (That has not stopped people from trying so-subscribers in Erie Family Life reported that a woman asked to name his 13 birds as the beneficiaries of his life insurance policy.)
If you are concerned about your pet well-being if you were to survive him, it is best to speak with an attorney and / or financial advisor of your wishes. One option could be to fund a pet trust with life insurance, naming a trustee who will care for your pet.
ERIE loves animals and their owners. It is why we offer coverage of animal damage is automatically included in automobile policies ERIE *. It covers up to two dogs and / or cats that are injured in your vehicle at the time of an accident. Contact an Erie Insurance agent in your community to learn more.
* Not available in North Carolina. Total injuries limit for pets is $ 1000 with a / $ 500 limit animal. In case of death, the amount is $ 500 to replace the animal or $ 1,000 in total. Included in this amount is the cost of the first visit of welfare and the cost to sterilize the new pet.
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