Scottish Provident has completed the biggest overhaul in the pricing of its income protection rates for several years.
The changes are effective immediately and will affect the majority of Scottish Provident's income protection policy-holders.
In the case of a non-smoking male aged 35, on a 30 year policy with increasing rates, a deferred period of 26 weeks and a waiver of premium, the repricing represents a saving of 13%, at £20.88 a month down from £24.05.
Susan Barclay, head of marketing, Scottish Provident, says: "Today's changes emphasise Scottish Provident's continued commitment to offering comprehensive, yet cost efficient income protection, which is of vital importance for people looking to protect themselves from losing their income as a result of their illness or disability."
Recent changes to the Employment Support Allowance, previously Incapacity Benefit, which has led to a fall in successful applications from 83% down to 16%, could point to greater future demand for income protection, says Scottish Provident.
