My health has changed since I bought my policy: does it matter if I cancel?
Yes, it can matter a great deal. Your existing policy was priced on your health when you applied, and normally continues as long as premiums are paid. If you cancel, a new policy would be based on your health now, so it could cost more, exclude certain conditions or be unavailable. Think carefully before cancelling.
Your existing cover is valuable
Terms you have today may not be available again. That is a strong reason to keep cover you still need.
If cost is the issue
Ask about reducing the cover or term rather than cancelling completely.
Check whether you can claim
If your health has changed significantly, check whether you have critical illness or income protection cover you could claim on.
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