Animal Life Insurance
Definition - What does Animal Life Insurance mean?
Animal life insurance is life insurance coverage that yields a death benefit upon the passing of an animal or animals. Animals are crucial for the success of some businesses such as zoos and certain types of farms or ranches. Many people who are invested in animals often purchase this type of insurance.
Insuranceopedia explains Animal Life Insurance
Animal life insurance can provide coverage for many different types of animal deaths. For example, accidents, natural disasters, diseases, and injuries that cause animal deaths can all be covered. Animal life insurance is similar to human life insurance. However, in animal life insurance, the policyholder is the animal's owner. This is different than a person insuring himself or herself, as is done with human life insurance. There are many different types of animals which people buy animal life insurance for. For example, cattle, dolphins, bison, police dogs, and many others can all receiver animal life insurance coverage.