http://searchengine1stplace.com/veggies-take-life-insurance-carrot/
Summary
An interesting new insurance product has been introduced by Animal Friends Insurance (AFI). The new policy offers lower premiums to vegetarians, based on evidence that they are at a lower risk than their meat-eating counterparts of developing certain health conditions. It remains to be seen whether other insurance organisations will follow the example set by AFI .
A not for profit insurance firm has launched an insurance scheme which offers vegetarians and fish-eaters a reduced cost life insurance quote .
The deal, considered to be the 1st of its kind, is being marketed by Animal Friends Insurance (AFI). The firm is offering veggies a six per cent lower priceon mortgage cover premiums
The company said that veggies ought to pay less for the insurance cover, which pays out if the plan holder were to die, because they were more unlikely to suffer from a range of very serious illnesses, including some cancers.
Amanda Jude, AFI’s managing director, said that the danger of veggies being diagnosed with certain cancers is reduced by up to 42% and the risk of them suffering from heart disease is cut by up to 32%, but despite this they have, until now, had to pay broadly identical life insurance premiums as policyholders who eat meat.
She says that AFI think that this is not fair and says the life insurance industry should recognise the idea that being a vegetarian can create have a big influence on life expectancy and lower its premiums accordingly.
A full-price policy is also on the market for meat eaters. Both policies are underwritten by LV=, which used to be known as Liverpool Victoria.
In common with normal life plans, a range of things contribute to the cost of the monthly premium including whether the applicant smokes, their sex, weight and age.
Currently, Animal Friends Insurance is carrying the six per cent discount itself from the fee it receives from LV=. In the future, however, the firm’s objective was to offer lower premiums on specialist plans. In ,offering the discount the business is hoping to sign up enough vegetarians to make it economically worthwhile for LV= to underwrite yet another policy that takes the vegetarian’s diet into account.
Indeed there are huge savings to be made, a 42-year-oldnon-smoker purchasing £300,000 worth of cover might potentially save £393.60 over a 25-year period.
Where life insurance quotes is concerned, AFI believes that insurance companies should try to treat those that eat meat and non-meat eaters in approaches matching the way they approach those that smoke and those that don’t. We hope that that other companies in the insurance industry will follow the initiative.
Some managersin the insurance industry are dismissive that there is robust proof that vegetarians live longer, and how any insurer could prove that applicants who had stated that they were vegetarian did not munch on an occasional bacon sandwich.
When it comes to smoking, the insurance company can refer to your Doctor’s records – if you now don’t smoke it’s certainly likely that your Doctor will know. But this isn’t the case when it comes to eating meat, an executive from the insurance industry commented.
But many veggies argue that they are not worried about people falling off the vegetarian wagon and suggested that once a veggie has become a veggie, they do not return to meat-eating, unlike people who smoke who tend to drift out and back again into their habit.