Summary
An innovative new product has been marketed by Animal Friends Insurance (AFI). The insurance plan offers cheap premiums to vegetarians, based on evidence that they are at a lesser risk than their carnivore counterparts of developing certain medical conditions. It remains to be seen whether other insurers will follow AFI’s lead .

A not-for-profit insurance business has launched an insurance scheme which offers vegetarians and egg eaters a reduced cost life cover .

The offer, believed to be the 1st of its kind, is being marketed by Animal Friends Insurance (AFI). The business is offering vegetarians a six per cent cheaper premiumon life assurance premiums
The company claimed that veggies ought to pay a lesser sum for the insurance cover, which pays out if the customer were to die, because they were more unlikely to suffer from a selection of serious conditions, including cancers.

Rebecca Puttey, the managing director of AFI, said that the danger of veggies being diagnosed with certain cancers is shrunk by up to 42% and the risk of them suffering from heart disease is cut by up to 30 per cent, but despite this they have, until now, had to pay broadly the same life insurance premiums as people who eat meat.
She says that Animal Friends Insurance believe that this is patently unfair and says the life insurance industry should recognise the fact that being a vegetarian can impose have a big influence on life expectancy and cut its monthly charges accordingly.

A standard arrangement is also on the market for non-vegetarians. Both plans are marketed by LV=, which used to be known as Liverpool Victoria.

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

Just at the moment, Animal Friends Insurance is carrying the 7% cheaper premium itself from the payment it earns from from LV=. In the future, however, the company’s aim was to offer lower costs on specialist plans. In ,offering the discount the business is hoping to sign up enough veggies to make it cost effective for LV= to underwrite another policy that takes the vegetarian’s diet into account.

Indeed there are huge savings to be had, a 40-year-oldnon-smoker wanting £300,000 worth of life cover might potentially save £393.60 over a twenty year term.

Where online life insurance is concerned, AFI believes that life insurance companies should try to treat meat eaters and those that do not eat meat in a way that is similar to the way they assess smokers and non-smokers. It is to be hoped that other companies in the insurance industry will do the same.

It is thought that some executivesin the insurance industry do not believe there is any proof that vegetarians live longer, and how any life insuranec company could prove that applicants who had certified that they are veggies did not savour the occasional rump steak.

It’s true that when it comes to smoking there are GP records - if you now don’t smoke it’s possible that your Doctor will know. But this does not apply when it comes to eating meat, an insurance executive observed.

But many veggetarians say that they are not concerned about people falling off the veggie ways and suggested that once a veggie has become a veggie, they don’t return to meat-eating, that is unlike applicants who smoke who tend to drift out and back again into their habit.

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