OneDegree, a leading virtual insurance company, has announced significant upgrades to its Pet CEO Plan in Hong Kong, aimed at offering comprehensive coverage for pets.
According to Finance Mingpao, the annual compensation limit for the plan has been raised to $3,000 (NT$100,000).
In addition to this enhancement, OneDegree has introduced Hong Kong’s first unique pet critical illness supplementary protection. This coverage, available to pets of any age and breed, is offered at an annual fee of $14.40 (NT$480), currently available with a 25% discount.
The new pet critical illness supplementary protection covers medical expenses related to conditions such as epilepsy, quadriplegia, or a dislocated patella. It also includes a one-time cash protection benefit of 10,000 yuan, which can be utilized without restrictions. However, this cash benefit is limited to one claim per pet’s lifetime and is exclusively for existing customers of OneDegree.
Zhou Meihua, deputy chief executive of OneDegree, noted that the additional protection, launched at the end of May, has been well-received. On its debut day, over 60% of new Pet CEO Plan customers opted for the pet critical illness supplementary protection. By the end of June, this option accounted for 30% of all new policy purchases.
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