The firm will initially offer only life and critical illness products but is considering releasing a wider range down the line, a spokesman said.
The company announced in February last year it was mulling a re-entry is still in discussions about the product details, he said.
Scottish Widows’ protection products are currently only sold via parent company Lloyds Banking Group’s bancassurance arm after they were withdrawn from the advice space following a review in 2007.
The company’s protection market director, Richard Jones, said at the time “market conditions and our current protection focus” meant the move made “economic sense”.
However, the re-launch has been on the cards for a couple of years and the company feels now is the right time, the spokesperson said.
“It’s an area we’ve been looking at. Now we think there is potentially greater demand for these type of products,” he said.
Earlier this year the provider also launched enhanced annuities to the adviser market.
