Standard Life Healthcare is launching a PMI product with a 'switch' option to encourage customers to move insurers.

The company is using the launch to expand its share of the individual PMI market.

The initiative will allow customers to move to Standard Life Healthcare without needing any new underwriting or terms.

Standard Life Healthcare sales and marketing manager Iain McMillan said: "Customers will be able to bring their current medical underwriting terms with them, removing any worry that they could lose cover for a condition covered by their current insurer."

Customers with a good claims record will also be offered the chance of a 50% no-claims bonus on the company's Primecare products.

McMillan said: "Intermed-iaries' customers can make substantial savings on their premiums, either by switching to a Primecare plan and taking advantage of our NCD [no claims discount].

"If they are over 60 they can switch to our high excess Choices plan."