My insurance has become too expensive: should I cancel it?
Speak to your insurer or adviser before you cancel. There may be ways to lower the cost, such as reducing the cover amount, shortening the term or removing an optional benefit. If you cancel and need cover again later, it may cost more or be harder to get, especially if your health has changed.
Why has it gone up?
Check whether your premium is reviewable, increases with indexation or has changed for another reason. If it is indexation, you may be able to decline the increase.
What would you lose?
Think about who relies on the cover and what would happen to them without it.
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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