I've used savings to reduce my debts — can I reduce cover?
Often, yes. If you have paid down a mortgage or other debts, you may not need as much cover. Many insurers allow you to reduce the sum assured, which usually lowers the premium. Before reducing it, make sure the remaining cover still meets your family's other needs, such as income and living costs.
How to reduce it
Contact the insurer or your adviser. They will confirm the new cover amount and premium. Reducing cover does not normally require new medical questions.
Think about the whole picture
Cover is often meant to do more than repay debt. If your family relies on your income, they may still need support even with a smaller mortgage.
Increasing later
Increasing cover again in future may need new underwriting, so the price could depend on your age and health at that time.
This article is general information about UK protection insurance, not personalised financial advice. Policy terms vary between insurers and products, so always check your own policy documents.
Last updated 27 October 2026