Life Insurance For Vegans

    A Guide To Lowering Your Insurance Rates

    A healthy diet, like veganism, can help improve your overall well-being. But can being vegan influence your insurability?

    In this guide, we’ll discuss all you need to know about vegetarian and vegan life insurance. We’ll discuss how being vegan impacts your insurance rates and share tips on how to save even money on insurance.

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    Do Vegans Get Lower Life Insurance Premiums? 

    An insurance company will calculate your premiums based on how likely you are to die during your insurance term. If you’re less likely to die during your coverage period, then the insurance company will give you lower premiums. To determine this risk, they take into account many factors such as your family medical history, occupation, lifestyle choices, and personal health. 

    Although they won’t look at your diet specifically, what you eat has a huge impact on your health. Many people switch to veganism for this very reason. Studies show that vegans and vegetarians have a lower risk of heart attack and better blood sugar levels. Because healthy vegans and vegetarians tend to have a longer lifespan, insurers tend to give them lower rates. 

    Understanding How Life Insurance Companies Classify Your Health 

    In a process called underwriting, insurance companies classify most people into four health classes, which correlates to the risk of insuring a particular applicant. These classes range from Preferred Plus to Standard, plus an extra Substandard classification for, especially risky individuals. 

    Underwriters look at several factors to determine your risk profile. Here’s a breakdown of some of those factors.

    Personal Health

    A life insurance company usually measures this through your height-to-weight ratio or body mass index (BMI). Some companies may also examine your mental health and medical history. Past prescriptions or surgeries may influence your premiums.

    Family Health History

    Aside from your condition, your family’s medical records will also be checked. An insurer generally looks for hereditary conditions such as kidney disease or diabetes.

    Lifestyle 

    This includes your occupation and hobbies. If you have a dangerous hobby or occupation, the insurance company will be less likely to give you low premiums since it puts you at a higher risk of injury and death.

    Another aspect of your lifestyle is the consumption of harmful substances. Excessive alcohol and tobacco consumption (as well as drug use) may negatively impact premiums, even for otherwise healthy vegans.

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    How Veganism Impacts Your Health Classification 

    In this section, we detail how the plant-based diet adopted by vegans and vegetarians can positively influence your health class – subsequently resulting in reduced premiums.

    Improved Cardiovascular Condition

    Cardiovascular disease and hypertension can prevent you from getting the best insurance rate. If you or your family has a history of heart disease, you can counteract the risk through healthier eating habits.

    Balanced plant-based vegetarian diets that include whole grains, fruits, and vegetables can also help control high blood pressure, glucose, and cholesterol levels – three factors that determine heart health. There’s scientific evidence that eliminating red meat from your diet can decrease your chances of death from cardiovascular disease by 29%.

    Thanks to a reduced risk of heart disease, vegans and vegetarians have a better chance at lower premiums. 

    Decreased Chance of Diabetes

    Studies show that if you have diabetes, you’re 2 to 4 times more likely to suffer from cardiovascular diseases such as hypertension and heart attacks. This means that having diabetes can prevent you from getting affordable life insurance rates. 

    You can reduce the risk of diabetes through a vegan or vegetarian diet, which helps control insulin levels. A study in a diabetes care journal found evidence that vegans and vegetarians are 34% less likely to suffer from diabetes compared to non-vegetarians.

    However, if you’re already suffering from diabetes, you can still get better rates by managing your condition. You can do this by seeking treatment, staying on top of any prescribed medication, and switching to a vegan or vegetarian diet.

    Lower Risk Of Cancer

    Getting diagnosed with cancer can increase your rate and make getting coverage impossible. While many variables may increase your risk of cancer, some of which you can’t control, you can minimize it by going vegan.

    A recent study has shown that vegans have a lower risk of being diagnosed with cancer. Another study shows that, by going vegan, you have a lower risk of colorectal cancer

    Reducing Your Life Insurance Premiums As A Vegan

    Veganism can be beneficial both to your health and your insurance rates. However, veganism alone won’t be enough to get the best insurance rates. To further reduce your premiums, here are some tips.

    Eat A Balanced Diet

    If your all-vegan diet still consists of saturated fats and added sugars, you’re still putting yourself at risk for type 2 diabetes and other health issues. To reap the maximum benefits from a vegan or vegetarian diet, you need to make sure that your diet is balanced and nutritious. By further reducing your risk for diseases like diabetes, insurers may offer you lower premiums.

    Exercise Regularly

    Your healthy plant-based diet must be accompanied by regular exercise. Simple exercises such as cycling or even walking can help you further reduce the risks of issues like heart disease and diabetes. Because you’ll be improving your general health by exercising, you’re likely to be offered even lower insurance rates.

    Abstain From Consuming Harmful Substances

    Excessive alcohol consumption and nicotine intake can cause your premiums to skyrocket. Because these rates only normalize after being clean for several years, we recommend that you don’t start drinking and smoking in the first place or quit as soon as possible.

    Work With An Insurance Agent

    Shopping for insurance alone can be confusing and tiring. By enlisting the services of an independent life insurance agent, you’ll be able to find better deals much quicker. Their understanding of your personal circumstances and expertise in the life insurance industry can help you find the best-valued policies for your protection.

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    Closing Thoughts 

    You can’t get better insurance rates simply by being vegan. However, the health benefits you gain from veganism can get an insurer to give you lower premiums. To make your premiums more affordable, you should also exercise and abstain from harmful substances. You can also recruit an independent insurance agent to help you find the best deals.

    If you’re looking for the best life insurance policies as a vegan, Wesley Insurance, LLC is here to help! Our professional team can assist you in finding the best life insurance policy that fits your needs and budgets. Contact us today for more information!

    Written By Cameron McDowell
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