UK: Cheaper life cover for vegetarians

A new life insurance product was launched today in the UK offering lower premiums to vegetarians.

Animal Friends Insurance said people who did not eat meat would qualify for a 6% discount on its life cover because medical evidence suggested they were less likely to suffer from major illnesses than those who ate meat.

The not-for-profit group said that while the life insurance industry had significantly developed its understanding and management of risk in recent years, it had not given adequate weighting to the benefits of being a vegetarian.

It said despite the fact that vegetarians were less likely to suffer from a range of chronic diseases, they did not pay less for their life insurance cover, which it claimed meant they were subsidising meat-eaters.

Research carried out by the group found that around 2.2 million people claim not to have eaten meat during the past year, while a further 1.3 million people plan to stop eating it during the coming 12 months.

Elaine Fairfax, managing director of Animal Friends Insurance, said: “The risk of vegetarians suffering from some cancers is reduced by up to 40% and from heart disease by up to 30%, 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.”

The product, which is underwritten by insurer Liverpool Victoria, is also available to meat-eaters, but without the 6% discount.