LONDON, ENGLAND, July 5, 2013 (The Daily Mail): Vegetarians are to be offered cheaper life insurance because, it is claimed, they are healthier and less likely to die early. The AFI insurance agency has devised the Vegetarian Term Life policy to reward non meat-eaters with lower premiums. The company claims that the wider industry has failed to catch up with the reality that vegetarians are a better insurance risk. They are, it says, less likely to suffer from the sort of serious or chronic illnesses that shorten lives.
According to the Vegetarian Society, the risk of some cancers is reduced by up to 40 per cent and of heart disease by 30 per cent. The chance of developing kidney and gall stones is also lower, it says, while the threat of diet-related diabetes and high blood pressure is minimised. The prospect of getting the human form of Mad Cow Disease becomes much more remote, it is argued, while there is also less danger of food poisoning. The new policy, underwritten by the Liverpool Victoria Life Company, offers a 25 per cent reduction on monthly premiums in the first year only.
But AFI - which stands for Animal Friends Insurance - is arguing for the entire industry to deliver long-term discounts to vegetarians. They gave the example of a 45-year-old female non-smoker.
She would pay US$16.48 a month for a $150,458 policy over 15 years with the company's vegetarian policy, compared to an average figure of $24.66 and a top rate of $27.68. A spokesman for the Vegetarian Society said: "This is an important first step. We hope insurance companies will take seriously the fact that vegetarians are less likely to die young from cancer and heart disease."