Rates have been reduced by as much as 3.4% for critical illness cover and as much as 5.3% for life cover.
For example, a female, non-smoker, aged 40, on a 20 year critical illness policy of a decreasing lump sum of £100,000 would previously have paid £30.14 a month. As a result of the re-pricing, a new customer of this criteria will now pay £29.11 - a saving of 3.4%.
Susan Barclay, head of marketing, Scottish Provident, said: "It is more essential than ever for people to have a financial safety net in place that they can rely on should the worst happen.
“With the backdrop of millions of Britons without adequate provision, the repricing emphasises Scottish Provident's continued commitment to offering comprehensive, yet cost effective life and critical illness cover, which is vital for people looking to protect themselves and their families should they suffer a critical illness or die.
“The additional benefits available at no extra cost underline the fact that we are listening to our customers and the general market, many of whom are struggling to make ends meet."
