None Vegetarian Need Not Apply For This Life Insurance

Summary
An innovative new insurance policy has been marketed by Animal Friends Insurance (AFI). The life insurance policy offers discounted premiums to vegetarians, based on evidence that they are at a lower risk than their carnivorous counterparts of developing certain medical conditions. It remains to be seen whether other insurance organisations will follow the policy introduced by AFI .

A none profit insurance firm has marketed a scheme which offers vegetarians and egg eaters a reduced cost life cover .

The deal, considered to be the 1st of its type, is being brought to the market by Animal Friends Insurance (AFI). The business is offering non-meat eaters a seven per cent cheaper premiumon mortgage protection premiums
The organisation said that veggies ought to pay a lesser cost for the insurance, which pays out if the customer were to die, because they were less likely to suffer from a range of very serious illnesses, including some cancers.

Amanda Jude, A senior director at Animal Friends Insurance, claims that the risk of vegetarians being diagnosed with certain cancers is reduced by up to 42 per cent and the danger of them suffering from heart disease is reduced by up to 32 per cent, but despite this they have, until now, had to pay the same insurance costs as clients who eat meat.
She says that AFI believe that this is patently unfair and says the insurance companies should recognise the concept that being a veggie can create have a significant effect on life expectancy and lower its monthly charges accordingly.

A standard price policy is also on the market for meat eaters. Both insurance policies are sold by LV=, which was previously known as Liverpool Victoria.

In common with normal life insurance policies, a range of factors contribute to the cost of the premiums including whether the applicant smokes, their weight, age and sex.

Just at the moment, Animal Friends Insurance is making the six per cent discount itself from the cash it receives from LV=. In the future, however, the firm’s objective was to offer lower premiums on specialist cover. In offering the deal the firm is hoping to sign up enough vegetarians to make it economically viable for LV= to underwrite yet another plan that takes the vegetarian’s diet into account.

Indeed there are big savings to be made, a thirty eight year oldnon-smoker wanting £300,000 worth of insurance cover might potentially save £393.60 over a 25-year period.

Where online life insurance is concerned, AFI considers that insurance companies should begin to treat those that like meat and those that do not eat meat in approaches matching the way they assess smokers and non-smokers. Perhaps other companies in the insurance industry will follow the initiative.

It is thought that some executivesin the insurance industry doubt whether there is proof that veggies live longer, and how any life insurer would know that people who had certified that they were vegetarian did not eat the odd spare rib.

When it comes to smoking, the insurance company can refer to your GP’s patient records – if you now don’t smoke it’s probable that your Doctor will know about it. However, this is unlikely to apply when it comes to eating meat, an said a spokesperson from the insurance industry.

But many veggies argue that they are not worried about people falling off the veggie wagon and suggested that once a vegetarian has become a veggie, they don’t return to meat-eating, unlike people who smoke who tend to drift out and back again into their habit.