Scottish Provident will see the majority of its life cover rates reduce after a repricing.
The move came as the provider announced it paid out 97% of life claims last year for a total of over £34m.
Susan Barclay, Head of Marketing, Scottish Provident, says: "At a time when many people are struggling to make ends meet, we are determined to give our customers the best possible chance to feel financially secure, and our life cover claims data for 2009 reflects just that."
Under the old pricing, a female smoker, aged 25, on a 25 year policy of a level lump sum of £500,000 would previously have paid £24.87 a month.
A new customer will now pay £20.47.
