How To Cancel Nationwide Pet Insurance

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Nationwide Pet Insurance Refund Policy

Nationwide allows you to cancel the insurance coverage anytime. It will cover the expenses for the ongoing month and will not charge you for the next billing cycle. You can even get a refund if your state has a Free Look Period. The Free Look Period gives limited time to try, test, and take the money back if it is unsuitable. It applies for the first month and has some other terms that must be read carefully. 

How Much Can You Save After Canceling Your Nationwide Pet Insurance Subscription

An average plan by Nationwide that covers accidents and chronic illnesses of the pet will cost approximately $43 per month. This gets a yearly total of $516, which is a decent amount. This amount depends on your plan and may vary. Canceling the nationwide pet insurance subscription will save you this amount, but you have to be prepared for some potential vet expenses from your pocket. Also, in the case of a healthy pet, this amount can be saved and used for other needs and wants. 

Where to Invest that amount

Although there are multiple options that you can invest in, these options can be considered:

High-Interest Savings Account or Investments

Consider putting all your savings into a high-interest savings account or whatever else you can do to invest based on your financial goals and personal risk tolerance. You may seek professional advice for personal recommendations, and platforms like Beem can help you with them.

Health and Wellness

Investing in your health can be beneficial. Buying health supplements, gym memberships, and dietary plans can boost your work efficiency.

Online Businesses

Generating an additional income will allow you to easily care for your pet. Although the funds required to start a large-scale business are not as high, an online business like a drop-shipping store can be easily set up to generate a multiplier revenue compared to investment. 

Dividend stocks

Investing in stocks can be risky, but if done with a strategy, it can give high returns within a year. Apart from multiplying the money, stocks also provide dividends on the money invested. This creates a source of passive income.

Alternatives To Nationwide Pet Insurance

While Nationwide pet insurance is a great way to cover so many of the pet care expenses that come your way, it is by no means the only option. A range of other alternatives exists in the pet insurance market, including their own features and differentials for coverage. Some of the most popular include:

Healthy Paws

With its hassle-free, simple coverage, Healthy Paws boasts super-fast claim processing and allows complete customization at high reimbursement levels with no annual or lifetime payout limit.

Embrace Pet Insurance

Embrace provides individualized coverage options, such as the accident and illness plan, wellness rewards, and diminishing deductibles. They also offer coverage for hereditary conditions and alternative therapy.

Trupanion

 Trupanion offers just one straightforward plan with customizable deductible options. It covers hereditary and congenital conditions, alternative therapies, and prescription medication.

Conclusion

Conclusively, people these days keep the health of their pets as a top priority. Nationwide Pet Insurance offers peace of mind by covering pets' accidental or medical expenses. But, for several reasons, a person may seek cancellation of the coverage. It is important to understand the cancellation process to avoid any future costs. It is a simple process that can be easily done through phone or email. Canceling the policy presents an opportunity to redirect funds toward other aspects of your pet's care or personal financial goals. Also, alternative options can be explored, and in the case of limited funds, platforms like Beem can provide you with quick personal loans at competitive interest rates.