By MoneyBees
Put in the premium, deductible, co-payment and annual limit from a pet insurance quote, and the vet bills you expect. See what a claim would pay, the bills at which the policy breaks even, and what you would pay over your pet's life with and without cover.
You pay this first, before the policy pays.
Your share of the bill after the deductible.
Vaccinations and flea or worm control are usually excluded.
0 if your quote stays level.
Break-even vet bills
$700
covered bills a year to get the premium back
In a large-bill year
$4,080
paid on $5,300 of bills
Average cost of cover
-$80
premium less the expected payout, a year
The policy pays nothing until covered bills pass $200, then 80% of the rest, up to $10,000 a year. You get your $400 premium back once a year's covered bills reach $700.
In a normal year with $300 of covered bills, it pays $80. In a year with a $5,000 bill on top, it pays $4,080 and you pay $1,620 in all, premium included.
Over 10 years, with the premium rising 5% a year, you would pay about $5,031 in premiums and expect about $4,800 back at a 10% yearly chance of a large bill. Cover is worth more if one large bill would strain your savings, whatever the average says.
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| Covered bills in a year | Policy pays | You pay, with premium |
|---|---|---|
| $500 | $240 | $660 |
| $1,000 | $640 | $760 |
| $3,000 | $2,240 | $1,160 |
| $5,000 | $3,840 | $1,560 |
| $10,000 | $7,840 | $2,560 |
| $20,000 | $10,000 | $10,400 |
Bills the policy covers only. Exclusions, waiting periods and sub-limits in your policy wording reduce what is paid.
Say the premium is S$400 a year with a S$200 deductible, 20% co-payment and a S$10,000 limit. A S$3,000 surgery bill pays (3,000 - 200) x 80% = S$2,240, so you pay S$760 plus the premium. The policy breaks even once a year's covered bills reach 200 + 400 / 0.8 = S$700.
If there is a 10% chance of a S$5,000 bill in a year and nothing else is claimed, the expected payout is 10% x S$3,840 = S$384. That is S$16 less than the premium, which is what you pay on average for capping a bad year.
It depends on the bills you could not pay from savings. On average you pay more in premiums than you get back, because that is how insurance is priced. Cover earns its keep in the year a large accident or illness bill arrives. Enter the policy's terms and a bill you would struggle with to see what you would pay with and without it.
The deductible (or excess) is the part of a bill you pay first. The co-payment is your share of what is left. With a S$200 deductible and 20% co-payment, a S$3,000 bill pays (3,000 - 200) x 80% = S$2,240, so you pay S$760. The annual limit caps what the policy pays in a year.
Deductible plus premium divided by the share the policy pays. With a S$400 premium, S$200 deductible and 20% co-payment, that is 200 + 400 / 0.8 = S$700 of covered bills in a year.
AVS says most policies cover surgical and non-surgical illness, accidental injury, accidental death, final expenses and third-party legal liability. Check your own policy wording for the limits on each.
AVS lists common exclusions: pre-existing and hereditary conditions, preventive care such as vaccinations and flea, tick or worm control, behavioural conditions, cosmetic procedures and alternative therapies such as acupuncture and physiotherapy.
AVS notes that most insurers have a maximum age at which a pet can be enrolled. Waiting periods, eligible breeds and ages also vary between policies, so check before your pet gets older.
Yes. All cats and dogs must be licensed with AVS. A one-time licence for a sterilised cat or dog costs S$35 for each of your first three, and a one-year licence for a non-sterilised one costs S$90. In an HDB flat you may keep one dog of an approved breed and up to 2 cats.
These calculators provide general estimates for educational purposes only and are not personalised financial advice. Results may rely on rates and rules that change over time, so verify against official sources (IRAS, CPF Board, HDB, MAS) or consult a licensed financial adviser before making decisions.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).