Best Reviews Online

Summary
An innovative new insurance product has been introduced by Animal Friends Insurance (AFI). The life insurance 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 firms will follow the policy introduced by AFI .

A no-profit insurance business has launched an insurance policy which offers vegetarians and egg eaters a reduced premium cheap critical illness insurance .

The offer, believed to be the 1st of its type, is being pioneered by Animal Friends Insurance (AFI). The firm is offering veggies a 7% price reductionon cheap life cover premiums
The business said that vegetarians ought to pay a lesser cost for the cover, which pays out if the customer were to die, because they were more unlikely to suffer from a range of very serious illnesses, including some cancers.

Rebecca Puttey, the managing director of AFI, claims that the risk of vegetarians being diagnosed with certain cancers is shrunk by up to 40% and the risk 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 the same life premiums as clients who eat meat.
She says that AFI think that this is not fair and says the insurance companies should recognise the fact that being a veggie can impose a positive impact on life expectancy and cut its charges accordingly.

A standard priced plan is also on the market for meat eaters. Both insurance policies are brought to the market by LV=, which was known as Liverpool Victoria.

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

Currently, Animal Friends Insurance is funding the 6% reduction in price itself from the money it gets from LV=. In the future, however, the business’s aim was to offer lower premiums on specialist policies. In making the offer the firm is hoping to sign up enough vegetarians to make it viable for LV= to underwrite another insurance policy that takes the vegetarian’s diet into account.

Indeed there are significant savings to be had, a 42-year-oldnon-smoker wanting £300,000 worth of life insurance might potentially save £393.60 over a twenty year period.

Where life insurance is concerned, AFI thinks that life insurance companies should start to treat meat eaters and non-meat eaters in ways that are similar to the way they approach those that don’t smoke and those that do. It is to be hoped that other companies in the insurance industry will do something similar.

Some peoplein the insurance industry do not believe there is verifyable proof that veggies live longer, and how any insurer would know that applicants who had certified 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 will be aware. However, this is unlikely to apply when it comes to eating meat, an insurance executive said.

But some veggies contend that they are not worried about people falling off the veggie way of eating and suggested that once a veggie has become a vegetarian, they don’t regress to meat-eating, unlike those that smoke who tend to drift out and back again into their old smoking ways.

Filed under: Product reviews and shopping