Should I replace an old policy with a newer one?
Not necessarily. An older policy may have been priced when you were younger and healthier, and may have guaranteed premiums or definitions that are hard to match today. A newer policy might offer more features, but check what you would lose. Keep the old policy until any replacement has started.
Compare like for like
Look at cover, term, definitions, exclusions, premium basis and added benefits for both.
Health and age
New cover is underwritten on your health now, which could mean higher premiums or exclusions.
Adding instead of replacing
If you need more cover, a second policy alongside the first might be better.
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