Pet Insurance Glossary
We've created a Glossary which brings together Petsecure pet insurance and common insurance terminology, for your reference.
Your pet's age, as confirmed by a veterinarian. Many people think that there are age limits for pet health insurance. Petsecure protects pets from 8 weeks of age and up, including senior pets.
Older pets have a need for more medical attention, and as such, have a higher incidence of claiming. By increasing the deductible amount as your pet ages, it allows us to offer lower premiums to pets of all ages. The deductible is only applied during the years in which claims are made.
An unexpected, unintended event causing injury.
Periods of one year, or part of a year, starting with the date this Policy was first issued, or starting with the effective date of a change in Coverage Plan.
Any medical problem that is directly related to and caused by a primary medical Condition. This includes any medical Condition resulting from any Treatments for the Associated Conditions such as alternative therapies, diagnostic testing, medication and prescription diets.
Benefit or Coverage
The insurance protection described in a Policy.
Any Condition affecting body parts of which Your Pet has two, one on each side of the body (examples: cruciate ligaments, ears and eyes).
The entity or company who buys or sells on a commission basis, for the insuring or underwriting party. Other than our parent company Western Financial Insurance Company, every other pet health insurance provider in Canada is a broker.
Claims Risk Management (or CRM)
CRM is how, as insurance underwriters, we are able to control the cost of insurance for the majority of our membership (or insurance base). Only a small percentage of our policy holders are impacted by CRM, meaning that we must temporarily adjust their co-insurance upwards due to much higher than average claims.
Changes in a Pet's normal healthy state, bodily function or behaviour.
Co-Insurance or Co-pay
The percentage of Your claim that You must pay before any applicable Deductible is applied. Sharing in the financial risk ensures that you make informed, responsible decisions about your pet's health and treatment. For most of our members, the standard co-pay amount is 20% of the total claim.
All manifestations of Clinical Signs resulting from the same diagnostic classification or disease process, regardless of the number of incidents or areas of the body affected (example: all cancer is considered one Condition).
Coverage Plan or Plan
The Coverage and Benefits as specified and defined in the Policy.
A fixed amount that You must pay prior to receiving claim reimbursement. Petsecure provides a choice of deductibles, which allow you to raise or lower your monthly premium amount. Our deductibles are paid annual, so regardless of how many claims you make, you only need to satisfy your deductible amount once a year, and only if you need to claim.
Document of Insurance
The Policy page which identifies the Policy number, the insured, the insured. Pet, the Coverage Plan and the Period of Insurance.
A restriction from Coverage that may be temporarily, or permanently placed on a Policy.
Sickness, disease and any changes to a Pet's normal healthy state.
The insurance company that underwrites the policy, or assumes the risk. In the case of Petsecure, the insurer is Western Financial Insurance Company.
Maximum Claimable Amount
The most You can claim for, as set out and explained in the Document of Insurance and the Schedule of Maximum Benefit Amounts. Any applicable Co-Insurance and Deductible may be applied to this amount.
Maximum Payable Amount
The most We will pay, as set out and explained in the Document of Insurance and the Schedule of Maximum Benefit Amounts.
A Petsecure pet parent who holds the policy and whom is subsequently part of the insurance (or membership) base.
A printed carrying card which holds pertinent membership and insurance information, for ease of use and accessibility. Not to be construed as a legal document or as proof of membership.
Our legal agreement with You, comprised of Your application, the Document of Insurance, Schedule of Maximum Benefit Amounts, the Policy Terms, Conditions and Benefits of Insurance document, plus any vouchers, riders, endorsements or other written notification from Us of changes to Your Coverage. Policy documents should be stored together in a safe place.
Pre-existing or Foreseeable Condition
A Condition which first occurred or showed Clinical Signs before Your Pet's Coverage started or within the Policy waiting period. Because insurance is designed to protect you from the unexpected, most insurance will not cover any condition that is pre-existing. If your pet has a condition that neither you nor your veterinarian are aware of, then it is would not be considered a pre-existing condition.
Secure For Life™
Secure For Life™ is the Petscure guarantee that your coverage will never run out. Your annual limits will be renewed each and every year for the entire life of your pet.
Schedule of Maximum Benefit Amounts
The defined Coverage, benefits and limits applicable under the Policy. For Petsecure, this is printed on the Document of Insurance's reverse side and is sent to you once your pet's policy has been underwritten. A schedule is simply a written or printed statement of details, which acts as an explanatory addition to another document.
Terms & Conditions (T&Cs)
Our policy Terms and Conditions (PDF) are written in plain English. This makes it easy to understand what is and is not covered by your policy. It's important to review your policy terms and conditions to ensure you have the right coverage for your pet.
Veterinary care, hospitalization, dentistry, surgery, diagnostics, medication, nursing, specialist referral, medical devices, alternative therapies and behavioural therapies performed by a Veterinarian.
To underwrite a policy, is simply to insure against losses, totaling a specific amount. Underwriting your policy is the formal act of insuring your pet, which is accomplished by selecting or rating their specific risks for insurance.
A physician or surgeon who is licensed to practice Veterinarian medicine where that practice is located.
Veterinary care professional fees, hospitalization, dentistry, surgery, diagnostics, medication, nursing, specialist referral, medical devices, alternative therapies and behavioural therapies performed by a Veterinarian.
The person(s) named in the Document of Insurance.
The dog or cat named in the Document of Insurance.