Scottish Provident has launched whole of life cover without the investment element to replace its unit-linked Pegasus plan.
The product will offer the choice of guaranteed and reviewable premiums and will be priced on gender-neutral terms.
It can be used for family or business protection such as loan protection, shareholder protection or keyperson cover.
Jennifer Gilchrist, senior product development manager at Scottish Provident, said: "We've removed the investment element which will allow ICOB-registered advisers, as well as investment advisers, to recommend it.
"As the emphasis on providing holistic financial planning continues to gain momentum, the focus on multi-usage whole-of-life will grow."
