Scottish Provident is replacing its unit linked Pegasus whole of life product with a simpler ICOB registered product.
The new version, to be launched on 25 November will not be unitised and, offering life cover only, will have no investment element.
The plan will be priced on gender neutral terms from launch and will offer a choice of guaranteed or reviewable premiums. The product has been designed for use in either family or business protection.
Jennifer Gilchrist, senior product development manager at Scottish Provident, said she expected unitised products to disappear from the market entirely due to regulatory change.
She added: "With RDR and the gender directive impacting on Pegasus in its current format, it was the perfect opportunity to review our offering and to make sure the new version could pay commission as well as comply with unisex pricing.
"The new Pegasus has a valuable new degree of simplicity and also has a wider appeal as ICOB registered advisers can recommend it."
