Voluntary pet insurance on an upward trajectory

Employees with pets are happy employees — data shows that pet ownership reduces stress levels and the risk of heart attacks and lowers blood pressure and cholesterol levels — and employees who don’t have to worry about coming up with money to pay for their furry friends’ often-costly medical bills are happier still. Hence the rise of the pet insurance benefit, which is steadily gaining ground on the voluntary menu. In 2016, premiums paid for pet insurance (sold both as a voluntary benefit and to individuals) rose 21%.