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

A no-profit insurance business has launched an insurance plan which offers vegetarians and egg eaters a reduced cost life insurance premium .

The offer, considered to be the 1st of its type, is being pioneered by Animal Friends Insurance (AFI). The firm is offering non-meat eaters a six per cent cheaper premiumon life assurance premiums
The organisation claimed that veggies ought to pay a lower amount for the insurance, which pays out if the client were to die, because they were more unlikely to suffer from a list of chronic illnesses, including cancers.

Elaine Fair, AFI’s managing director, claims that the danger of vegetarians being diagnosed with certain cancers is lowered by up to 42 per cent and the danger of them suffering from heart disease is reduced by up to thirty two per cent, but despite this they have, until now, had to pay identical life premiums as plan holders who eat meat.
She says that Animal Friends Insurance believe that this is unfair and says the insurers should recognise the concept that being a vegetarian can make a very positive impact on life expectancy and cut its premiums accordingly.

A full-price policy is also on the market for non-vegetarians. Both insurance policies are sold by LV=, which was previously known as Liverpool Victoria.

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

Currently, AFI is carrying the 6% lower price itself from the cash it gets from LV=. In the future, however, the firm’s objective was to offer lower premiums on specialist insurance plans. In offering the deal the company is hoping to sign up enough veggies to make it cost effective for LV= to underwrite yet another plan that takes the vegetarian’s diet into account.

Indeed there are significant savings to be made, a 38 year oldnon-smoker wanting £300,000 worth of insurance cover might potentially save £393.60 over a 25-year period.

Where critical illness is concerned, AFI believes that life insurers should start to treat meat eaters and those that do not eat meat in a way that is similar to the way they view smokers and non-smokers. Perhaps others in the insurance industry will take the same initiative.

Some senior executivesin the insurance industry are dismissive that there is robust proof that veggies live longer, and how any insurer would know that applicants who had certified that they are vegetarian did not munch on an occasional bacon sandwich.

It’s true that when it comes to smoking there are GP records – if you do smoke it’s possible that your GP will know. However, this is not the case when it comes to eating meat, an said a spokesperson from the insurance industry.

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 applicants who smoke who tend to drift out and back again into their habit.