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

A none profit insurance firm has launched an insurance scheme which offers egg eaters and vegetarians a reduced premium mortgage insurance .

The deal, thought to be the first of its kind, is being pioneered by Animal Friends Insurance (AFI). The company is offering vegetarians a 6 per cent reduction in priceon mortgage protection premiums
The business said that veggies ought to pay a lower amount for the cover, which pays out if the person dies, because they were more unlikely to suffer from a range of very serious illnesses, including cancers.

Elaine Fair, A senior director at Animal Friends Insurance, said that the risk of veggies being diagnosed with certain cancers is reduced by up to 40% and the danger of them suffering from heart disease is reduced by up to thirty per cent, but despite this they have, until now, had to pay broadly identical insurance premiums as clients who eat meat.
She says that Animal Friends Insurance think that this is patently unfair and says the insurance companies should acknowledge the idea that being a veggie can make have a big influence on life expectancy and reduce its charges accordingly.

A full-price plan is also on the market for meat eaters. Both insurance policies are underwritten by LV=, which was known as Liverpool Victoria.

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

Currently, AFI is funding the six per cent lower price itself from the money it gets from LV=. In the future, however, the business’s aim was to offer lower costs on specialist cover. In offering the deal the organisation is hoping to sign up enough veggies to make it economically worthwhile for LV= to underwrite another insurance policy that takes the vegetarian’s diet into account.

Indeed there are welcome savings to be had, a 38 year oldnon-smoker wanting £300,000 worth of life insurance cover might potentially save £393.60 over a twenty five year period.

Where life insurance is concerned, AFI believes that life insurers should try to treat those that eat meat and non-meat eaters in a way that is similar to the way they view non-smokers and smokers. Hopefully others in the insurance industry will do something similar.

Some senior executivesin the insurance industry are dismissive that there is verifyable proof that vegetarians live longer, and how any insurance company would know that those who had applied stating that they are veggies did not eat the odd spare rib.

When it comes to smoking, it’s true that there are your Doctor’s records – if you now don’t smoke it’s probable that your GP 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 concerned about people falling off the vegetarian wagon and suggested that once a veggie 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.

Bookmark to: