A recent survey done by Securian Financial Group revels that 44 percent of pet owners have some kind of plan for how the financial needs and care of their pets will be met after the owner dies. Pet owners that are planning for their beloved pets to outlive them are using planning tools such as including a caregiver for their pet as beneficiary of their life insurance policy or an annuity. Pet owners are not only willing to put time and effort into planning for their pets, but according to the survey are also willing to put significant financial resources into pet care, as 16 percent reported that they would spend $10,000 to save their pet’s life.
See, Pet Owners Make Financial Plans for Future Pet Care, Business Wire, Aug. 11, 2014.
