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Generation X buys more pet insurance policies than any other generation

Most people who purchase veterinary health plans for their furry family members have age in common.

The average age of people who have purchased pet insurance policies is 43 years old. Moreover, those with coverage for their dogs and cats often have other features in common, too.

Most people who have this coverage receive it through their employers and are married.

The stats were presented by EverythingBenefits, following an analysis of demographic data regarding workers using the pet insurance policies offered as a part of the benefits provided by their employers. What they discovered was that 77 percent of the employees who chose to opt into the dog and cat health insurance benefits from their employers were married. The average age among them was 43 years old and two out of every three of them (65 percent) was a woman.

According to Rachel Lyubovitzky, CEO of EverythingBenefits, employers are smart to design benefits packages that cater to their employees’ needs. As people increasingly consider their pets to be furry family members as opposed to animal possessions, related employee benefits are appealing to them. This is particularly true as veterinary care increases in complexity and, therefore, price.

Pet insurance policies can often bring an additional highly appealing feature to benefits packages.

“An impressive, yet pertinent benefits package can oftentimes be the key in attaining and retaining the highest caliber of talent,” said Lyubovitzky. “With this in mind, it is important to factor employees’ demographic information, personal interests and accessibility to offerings when assembling a benefits package.”

Understanding employees and their lives away from work can help employers to design optimal benefits packages for them. General demographic information is readily available to HR professionals, making it easier for employers to gain a strong understanding of what benefits offerings may be appealing to workers.

“For instance, when targeting a millennial audience, we’ve found that pet insurance is an extremely attractive benefit,” explained Lyubovitzky in a BenefitsPro report. “Statistically speaking, millennials are found to take more time than previous generations to start families and a pet is often times their ‘first model’ to practice parenting skills with.”

pet insurance policies - dog with head cone

On the whole 11 percent of employees offered pet insurance policies will opt in, said EverythingBenefits’ data.

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