Bacon surcharge for life insurance for vegetarians?
If you don't eat meat and live in the UK, you could qualify for lower life insurance premiums for a policy from one company.
AFI (Animal Friends Insurance) is offering a Vegetarian Term Life policy that comes with a 25 percent reduction on monthly premiums in the first year, according to the Daily Mail.
The insurer cites studies showing that vegetarians are less prone to heart disease and diet-related medical conditions such as diabetes and high blood pressure.
AFI was founded by a husband and wife who say they will skip commission on the vegetarian life insurance policy and have promised to donate profits from their other insurance sales to animal rights causes.
Life insurers, of course, typically conduct medical exams to assess your health by taking blood and urine samples, and evaluate your medical history before rating you for a policy. Liverpool Victoria Life Company, which is underwriting the vegetarian policy, had not yet returned calls requesting details of how it would test to confirm that someone really isn't a carnivore.
However, the Daily Mail did raise the specter of a "bacon surcharge" for vegetarians who fall off the wagon. Sean Poulter writes, "Studies have shown the lure of a bacon sandwich can lead a significant proportion to relapse. It is unclear whether this would affect their monthly premiums."
Des Toups is a writer, editor and expert on insurance, cars and personal finance. He has written extensively about all three for national publications such as MSN and major newspapers such as the Seattle Times. He has been quoted about insurance issues in The New York Times, USA Today and Kiplinger's. Follow him on Twitter @destoups.