Life Insurance -
Vegetarians offered special life insurance - 30/08/2007
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A not-for-profit insurance business has offered a specially reduced life insurance policy for vegetarians and fish-eaters.
The non-meat-eaters will be offered a six per cent discount on life insurance from Animal Friends Insurance (AFI), which the Guardian reports as the first policy discount of its type.
Vegetarians are traditionally offered lower life insurance premiums, due to insurers' perceptions of their comparatively healthier lifestyles.
Elaine Fairfax, AFI's managing director, said: "The risk of vegetarians suffering from some cancers is reduced by up to 40 per cent and from heart disease by up to 30 per cent, but despite this they have to pay the same life insurance premiums as meat eaters.
"We believe this is unfair and the life insurance industry needs to acknowledge the fact that being a vegetarian can have a very positive impact on life expectancy and reduce premiums accordingly."
According to the firm's own calculations, a 40-year-old, non-smoking holder of the life insurance premium would save almost £400 over a 20 year period.
AFI also stated that they currently offer a full-price policy to meat-eaters.
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