CGU Life has slashed the cost of its level term assurance policies.
The move is aimed at capturing a higher percentage of the keyman business assurance market and family assurance.
It is making cuts of up to 30 per cent, aimed particularly at male non-smokers seeking cover of £100,000 or more, who are looking to cover both their businesses and their families.
The premium reductions are effective for most ages and terms and for both males and females.
The greatest reduction is for a male non-smoker aged 25 seeking £500,000 cover over 20 years. He will now pay a premium of £30 a month instead of the previous £42.50.
The move to cut rates follows CGU's decision to cut the cost of its decreasing term assurance products in early April.