Q: My financial planner says that pet insurance is a gimmick and that I should invest in a pet savings plan, instead. My vet doesn't have an opinion on this. Do you?

A: Glad you asked. Over the past year I've been asked more about pet health insurance than ever before.

After my dog was diagnosed with brain cancer and had to undergo 18 radiation treatments at Cooper City Animal Medical Center, I wished I'd had pet health insurance.

Animal medicine can get expensive if you're seeking the best care for surgical needs, orthopedic ailments, heart disease, cancer and other conditions.

But that doesn't mean a pet health savings plan isn't a great idea or that health insurance is always the answer. That's because:

1. Pet health savings plans require us to save money we sometimes don't have.

2. Insurance won't cover everything.

Ideally, we should all have a savings plan dedicated to our pet's discretionary spending. Whether it's a formal ''pet health savings plan'' or a well-endowed cookie jar, it'll help handle the numerous smaller problems pets run into.

Consider health insurance to cover anything you won't be able to in the event of an emergency or major diagnosis. For some pet owners, that may mean seeking higher deductible insurance (now available with several plans).

As with any insurance product, choose wisely. I recommend perusing www.petinsurancereview.com for a smart guide to comparing plans.

Whatever approach you choose, plan for emergencies. After all, no one should have to suffer a choice between paying for their pet and making a mortgage payment.

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