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Pets are important members of the family. In recent years, many insurance companies have introduced pet insurance with comprehensive coverage, benefiting both pet health and owner finances.



When choosing the right pet insurance, knowing what to look for and which plan best suits you and your pet can be overwhelming. This article will explain the basic concepts of pet insurance and guide what to consider when insuring your pet.



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<h2 class="wp-block-heading">How Does a Pet Insurance Work?</h2>



As we all know, veterinary care and pet surgeries can be quite expensive in Hong Kong. Pet insurance protects pet owners&#8217; interests by transferring potential financial risks to the insurance company.



Currently, the primary pets covered by insurance policies on the market are cats and dogs, with coverage including pet medical care, pet liability, search and rescue advertisements, and accidental funeral expenses.



In addition, if a pet accidentally injures someone or damages someone else&#8217;s property, pet liability insurance can help the owner pay for financial compensation, effectively reducing their financial burden.



<h2 class="wp-block-heading">Comparison of Pet Insurance Compensation Types</h2>



While human insurance products come in wide varieties, pet insurance is relatively simple, generally based on medical coverage with additional protections such as third-party liability, accident, and loss compensation.



<figure class="wp-block-table"><table><tbody><tr><td>Pet Insurance Coverage Scope</td><td>Description</td></tr><tr><td>Medical coverage</td><td>Medical insurance for pets aims to cover medical expenses resulting from pet injuries or illnesses, typically reimbursing the owner for actual costs incurred, similar to human hospitalization insurance. Typical coverage for pet medical insurance includes veterinary outpatient, inpatient, and surgical fees, including blood tests, X-rays, and other examinations. Some insurance policies cover long-term illnesses such as diabetes, chronic kidney disease, and joint issues and even include alternative therapies such as homeopathy, acupuncture, and physiotherapy, when a veterinarian recommends.</td></tr><tr><td>Loss compensation</td><td>Current pet loss compensation does not reimburse the pet&#8217;s value when lost, but rather, when the pet is found missing, the owner can claim advertising or printing expenses for search ads from the insurance company to help locate their pet. However, compensation usually does not cover rewards offered in search ads.</td></tr><tr><td>Third-party liability</td><td>In pet insurance, third-party liability coverage refers to situations where a pet&#8217;s behavior causes injury, death, or property damage to a third party. The insurance company compensates according to policy terms, similar to third-party auto insurance. However, policyholders should be aware that some liability insurance does not cover the total amount, and the owner may need to bear a percentage of the compensation. Additionally, there is a limit to third-party liability compensation.</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Considerations and Comparisons When Buying a Pet Insurance</h2>



Compare pet insurance coverage scope and amounts: Each policy has its coverage scope, and the terms and conditions stipulate the compensation for specific events or accidents during the policy&#8217;s effective period. There may be differences between policies even within the same type of coverage plan. The higher the coverage scope and amount, the more expensive the premium. Therefore, you need to consider the necessity of additional coverage and amounts.



<h3 class="wp-block-heading">Compare Pet Insurance Coverage and Amounts</h3>



Each policy has its coverage, and the terms and conditions stipulate the compensation for specific events or accidents during the policy&#8217;s effective period. There may be differences between policies even within the same type of coverage plan. The higher the coverage scope and amount, the more expensive the premium. Therefore, you need to consider the necessity of additional coverage and amounts.



<h3 class="wp-block-heading">Compare Pet Insurance Premiums</h3>



The primary purpose of purchasing pet insurance is to receive compensation in case of accidents or the diagnosis of severe illnesses, reducing financial burdens—pet insurance premiums on the market range from a few thousand to over five thousand dollars per year. Before purchasing, you must balance premium costs and the possibility of claims.



<h3 class="wp-block-heading">Compare Pet Insurance Exclusions</h3>



Exclusions are the uncovered items, referring to conditions for which the insurance company does not provide compensation. Insurance companies coverage plans have various items and exclusions, such as congenital diseases, pre-existing conditions, dental care, sterilization, pregnancy, and routine physical examination expenses. These items will be listed in the insurance contract. When purchasing insurance, review the policy&#8217;s exclusions to avoid unnecessary disputes and manage your financial budget effectively.



<h3 class="wp-block-heading">Assess Potential Medical Expenses for Your Pet</h3>



&nbsp;If your pet becomes ill or encounters an accident, numerous medical expenses may arise, including veterinary consultation fees, surgery, anesthesia, hospitalization, X-rays, and ultrasound examination fees. Depending on your pet&#8217;s breed, age, and medical history, the potential medical expenses for the owner may vary significantly.&nbsp;



It is essential to do your research beforehand, consult with experienced friends or online acquaintances who have similar pets, and evaluate the type and amount of pet insurance coverage you need to purchase.



In conclusion, when selecting pet insurance, it is crucial to consider the coverage scope, premium costs, and any exclusions in the policy. Thorough research and consultation with experienced pet owners can help you make an informed decision to ensure your pet is protected and your financial burdens are minimized in case of accidents or illnesses.



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Discover how to choose the perfect pet insurance plan for your beloved furry companion, ensuring their well-being while safeguarding your finances.






Pet Insurance Hong Kong: A Guide to Protecting Your Furry Friends & Wallet

How to learn more with less money?
Traditional higher education does not come cheap. Luckily, with advanced technology and more companies supporting affordable education, you no longer need to pay for an expensive degree to get what you need to stand out. Here are ways in which you can acquire new skills without worrying about your bank account. Be sure to share with your family and friends as well!
Free online courses
There are many online courses that are free and taught by instructors from reputable universities like Harvard and MIT. Sites like <a href="https://www.open.edu.au/study-online/courses">Open Universities</a>, <a href="https://alison.com/">Alison</a> and <a href="https://www.edx.org/">Edx</a> allow you to take unlimited free online courses with a wide variety of topics, from <a href="https://www.edx.org/course/thinking-acting-like-an-entrepreneur-1">Thinking &amp; Acting like an Entrepreneur</a> to <a href="https://www.edx.org/course/the-divine-comedy-dantes-journey-to-freedom">The Divine Comedy: Dante&#39;s Journey to Freedom</a>. If you wish to go further, you can also pay to apply for a professional certificate for around HKD 300 to get your studies recognized. Although these websites might not be able to provide comprehensive and in-depth knowledge on a particular subject, you can still understand more about a new topic and expand your own “database”.
Online course discounts
Advanced courses could cost you thousands of dollars. However, before you swipe your card, you can pay attention to the discounts offered by providers. For example, <a href="https://www.udemy.com/">Udemy</a> provides a lot of discounts from time to time, sometimes up to 90% off!
These advanced courses can help you acquire new skills from scratch. For example, you can get a <a href="https://www.edx.org/professional-certificate/mandarinx-mandarin-for-business">professional degree for Mandarin</a> for around HKD 3,500 from <a href="https://mandarinx.com/">Mandarin X</a>. According to a <a href="https://learning.linkedin.com/blog/top-skills/the-skills-companies-need-most-in-2019--and-how-to-learn-them">LinkedIn research</a>, the most-wanted skills in 2019 included Cloud Computing, Artificial Intelligence, Analytical Reasoning, People Management and UX Design, consider taking courses in these subjects if you are thinking of other job opportunities!
Cheap educational events
Beside long term courses, there are also a number of educational events in Hong Kong that are cheap and sometimes free. If you are sick of wandering aimlessly in a crowded mall during the weekends, you can check out websites like <a href="https://www.eventbrite.hk/">Eventbrite</a> and <a href="https://www.timeout.com/hong-kong/things-to-do">Timeout</a> to spend a meaningful and educational weekend joining activities ranging from music and culture to tech and finance.
If you are tech-savvy, take a look at the <a href="https://www.gdghk.org/">Google Developer Group</a>. They offer low cost workshops and events for those interested in Google technologies, web development skills, and Internet applications.
CEF Enhancement measures
Besides paying for courses entirely on your own, you can also apply for the CEF ( Continuing Education Fund) to get a subsidy from the government. In April 2019, a series of CEF enhancement measures will be launched, allowing applicants to claim up to <a href="https://www.wfsfaa.gov.hk/cef/en/news/news_20180516.htm">HKD 20,000</a> for registered courses. Click <a href="https://www.planto.hk/en/blog/CEF2019-Subsidy-20000">here</a> to learn more.
With the help of technology, there are many ways for us to learn. Start learning something new today to upskill yourself!

Luckily, with advanced technology and more companies supporting affordable education, you no longer need to pay for an expensive degree to get what you need to stand out. Here are ways in which you can acquire new skills without worrying about your bank account. 

How to learn more with less money?

Want to pursue further education but don’t have the extra money? The government has your back. The Continuing Education Fund was launched in 2002 aiming to encourage adults to continue pursuing further education by providing a subsidy for eligible individuals. Good news is, on 1 April 2019, some enhancement measures of CEF will be implemented to expand the scope of CEF to encourage more people to skill up themselves. Even if you are not a permanent HK resident, as long as you have the right of abode, right to land or to remain in Hong Kong without restriction, you can also enjoy the CEF. Here are some more details.
Details of the enhancement measures
<ol>
<li>Increasing subsidy ceiling from $10,000 to $20,000 per applicant</li>
<li>Reactivating closed CEF accounts so that unused balance can be used in addition to the new $10,000</li>
<li>Applicants can only use the $10,000 from the enhancement measures after they use up the original $10,000. For the original scheme, applicants have to pay 20% of the tuition fee. For the extra $10,000 from the enhancement measures, applicants have to pay 40% of the tuition </li>
<li>Increasing the upper age limit for applicants from 65 to 70</li>
<li>Expanding the scope of CEF courses to all eligible courses registered in <a href="https://www.hkqr.gov.hk/HKQRPRD/web/hkqr-en/index.html">Qualifications Register</a> (QR). Check here to see if your course is covered</li>
<li>No more restrictions on the validity period or the number of claims for CEF accounts, meaning you can apply for unlimited courses before you are 71</li>
<li>Applicants no longer have to open a CEF account before the start of the course. They also have to submit reimbursement claims in 1 year after completion of the course</li>
<li>Enhancing the quality assurance monitoring of CEF courses</li>
</ol>
How much can I get?
(A) = Amount from the original plan 
(B) = Amount from the enhancement measures
(C) = Total amount
I have never used my CEF
Reimbursement = （A）$10,000 + （B）$1,500 = （C）$11,500
<img decoding="async" src="http://34.96.221.168/wp-content/uploads/2019/12/20190121_2_cef_2.png" alt="">
I have $3,000 left in my CEF account
Reimbursement = （A）$3,000 + （B）$6,750 = （C）$9750
<img decoding="async" src="http://34.96.221.168/wp-content/uploads/2019/12/20190121_2_cef_3.png" alt="">
I have used up the $10,000 in my CEF account
Reimbursement = （A）$0 + （B）$9,000 = （C）$9,000
<img decoding="async" src="http://34.96.221.168/wp-content/uploads/2019/12/20190121_2_cef_1.png" alt="">
Reference：[Continuing Education Fund website] (<a href="https://www.wfsfaa.gov.hk/cef/en/index.htm">https://www.wfsfaa.gov.hk/cef/en/index.htm</a>)

 Good news is, on 1 April 2019, some enhancement measures of CEF would be implemented to expand the scope of CEF to encourage more people to skill up themselves. Here are some more details.

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Personal finance is not only the management of wealth but also the planning of life. Live a fruitful life through exploring the wisdom of money management.

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Life Planning

Personal finance is not only the management of wealth but also the planning of life. Live a fruitful life through exploring the wisdom of money management.

用Planto計劃夢想

Pet Insurance Hong Kong: A Guide to Protecting Your Furry Friends & Wallet

How to learn more with less money?

How to make the best use of the Continuing Education Fund enhancement measures?

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