None Vegetarian Need Not Apply For This Life Insurance

Summary
An interesting new product has been marketed by Animal Friends Insurance (AFI). The new policy offers cheap premiums to vegetarians, based on evidence that they are at a lesser risk than their carnivore counterparts of developing certain illnesses. It remains to be seen whether other insurance organisations will follow the lead set by Animal Friends Insurance .

A not for profit insurance firm has marketed an insurance policy which offers fish-eaters and vegetarians a reduced cost mortgage insurance .

The deal, believed to be the 1st of its kind, is being marketed by Animal Friends Insurance (AFI). The business is offering veggies a 6% reduction in priceon life assurance premiums
The company claimed that veggies ought to pay a lower amount for the insurance, which pays out if the client dies, because they were less likely to suffer from a range of chronic diseases, including some cancers.

Sheils Hatline, A senior director at Animal Friends Insurance, said that the danger of vegetarians being diagnosed with certain cancers is lowered by up to 40 per cent and the danger of them suffering from heart disease is lowered by up to 30 per cent, but despite this they have, until now, had to pay the same insurance premiums as clients who eat meat.
She says that AFI believe that this is patently unfair and says the life organisations should acknowledge the fact that being a veggie can make a positive impact on life expectancy and lower its premiums accordingly.

A normal plan is also on the market for non-vegetarians. Both plans are brought to the market by LV=, which prior, was known as Liverpool Victoria.

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

At the moment, AFI is making the six per cent lower price itself from the cash it receives from LV=. In the future, however, the business’s aim was to offer lower premiums on specialist plans. In making the discount the organisation is hoping to sign up enough vegetarians to make it economically viable for LV= to underwrite another policy that takes the veggie diet into account.

Indeed there are big savings to be made, a forty-year-oldnon-smoker purchasing £300,000 worth of insurance cover might potentially save £393.60 over a 20-year period.

Where cheap life insurance is concerned, AFI believes that insurance companies should begin to treat people that eat meat and those that do not eat meat in ways that are similar to the way they view those that smoke and those that don’t. Perhaps others in the insurance industry will take the same initiative.

It is thought that some senior managersin the insurance industry are doubtful whether there is any proof that veggies live longer, and how any insurance company would know that applicants who had certified that they are vegetarian did not enjoy the occasional Big Mac.

It’s true that when it comes to smoking there are GP records – if you do smoke it’s likely that your Doctor would know about it. However, this is not the case when it comes to eating meat, an executive from the insurance industry commented.

But many veggetarians say that they are not worried about people falling off the veggie ways and suggested that once a veggie has become a vegetarian, they do not regress to meat-eating, that is unlike applicants who smoke who tend to drift out and back again into their old smoking ways.