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If Youre Not Vegetarian Dont Apply For This Life Insurance

Summary
An innovative new insurance plan has been developed by Animal Friends Insurance. The new policy offers lower premiums to vegetarians, based on evidence that they are at a reduced risk than their carnivore counterparts of developing certain diseases. It remains to be seen whether other insurance organisations will follow the example set by AFI .

A not for profit insurance firm has introducd an insurance policy which offers vegetarians and fish-eaters a reduced cost cheapest life cover .

The deal, believed to be the 1st of its type, is being pioneered by Animal Friends Insurance (AFI). The firm is offering vegetarians a six per cent cheaper premiumon life assurance premiums
The business claimed that vegetarians ought to pay a lesser sum for the cover, which pays out if the policyholder dies, because they were more unlikely to suffer from a range of chronic diseases, including some cancers.

Elaine Fair, the managing director of AFI, claims that the danger of veggies being diagnosed with certain cancers is reduced by up to 42 per cent and the possibility of them suffering from heart disease is cut by up to thirty two per cent, but despite this they have, until now, had to pay identical insurance costs as policyholders who eat meat.
She says that AFI believe that this is unfair and says the life organisations should acknowledge the fact that being a veggie can impose have a positive influence on life expectancy and cut its monthly premiums accordingly.

A normal arrangement is also on the market for non-vegetarians. Both plans are marketed by LV=, which used to be known as Liverpool Victoria.

In common with standard life plans, a range of aspect contribute to the cost of the policies including whether the applicant smokes, their age, weight and sex.

Currently at the moment, Animal Friends Insurance is making the 6% cheaper premium itself from the fee it earns from from LV=. In the future, however, the business’s aim was to offer lower premiums on specialist cover. In ,offering the discount the firm is hoping to sign up enough vegetarians to make it worthwhile for LV= to underwrite yet another insurance policy that takes the vegetarian’s diet into account.

Indeed there are significant savings to be made, a 40-year-oldnon-smoker purchasing £300,000 worth of life cover might potentially save £393.60 over a twenty year period.

Where life insurance quotes is concerned, AFI considers that insurance companies should try to treat meat eaters and non-meat eaters in ways that are similar to the way they view those that don’t smoke and those that do. Perhaps others in the insurance industry will follow the initiative.

It is thought that some senior managersin the insurance industry are dismissive that there is any proof that vegetarians live longer, and how any life insurer would know that people who had applied stating that they are vegetarian did not savour the occasional rump steak.

It’s true that when it comes to smoking there are GP records - if you do smoke it's probable that your Doctor is likely to know. But this isn't the case when it comes to eating meat, an said a spokesperson from the insurance industry.

But some veggies contend that they are not concerned about people falling off the veggie way of eating and suggested that once a vegetarian has become a vegetarian, they do not regress to meat-eating, that’s unlike people who smoke who tend to drift in and out of their habit.