Maximum Lifetime Payout

by Pawlicy Advisor
Pet Insurance Terms
Maximum Lifetime Payout

What is a Maximum Lifetime Payout?

A maximum lifetime payout is the maximum amount of money that a pet insurance provider will reimburse you during your pet’s lifetime. After you’ve hit your maximum lifetime payout, your pet insurance provider will end your pet insurance policy, and you will not be reimbursed for any further veterinary expenses.

How Maximum Lifetime Payout Works

Once you’ve reached your policy’s maximum lifetime payout, you can no longer receive reimbursement for veterinary costs. Always be sure to read the fine print, including the maximum payout details, so that you’re not unpleasantly surprised later on when you make a claim. Pawlicy Advisor is always transparent about the deals we find from top insurance providers, and we’re happy to answer any questions you might have for help along the way.

Key Takeaways

  • A maximum lifetime payout determines the maximum amount your pet insurance provider will reimburse you for eligible claims during your pet’s lifetime.
  • When comparing pet insurance, it’s vital that you take note of each plan’s maximum lifetime payouts so that you’re not surprised later on.

Related Terms

Maximum Limit/Payout Per Year
A maximum limit or payout per year (also known as Annual Limit) is the maximum amount of money a pet insurance provider will reimburse you for eligible claims within a given year.
Read More.
Maximum Payout Per Incident
A maximum payout per incident is a ceiling set on how much money you can receive in reimbursed veterinary expenses for any given pet insurance claim.
Read More.
Multi-Pet Discounts
Multi-pet discounts are offered to pet owners who insure multiple pets under the same insurance provider.
Read More.

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