I will repeat once again!
DO NOT CANCEL THE POLICY UNTILL YOU HAVE SOUGHT FINANCIAL ADVICE!!!
Just because you may not have agreed to this policy or even accepted to take it on it does not mean that it isn't valid or has a critical use.
These policies are sold (properly) to protect the applicants against either accident, unemployment or sickness and designed to replace the income or pay the outgoings associated with a mortgage. This type of cover is crucially important in the present climate and should be seriously considered before cancelling the policy.
I would suggest that the only definite reason for cancelling a policy such as this would be if there was 100% certainty that you could not have qualified for the claim had you made one...this would be the defginition of mis-sold although if this policy has been sold without your knowledge and permission then this would also constitute mis-sold.
Not saying not to make a claim for compensation, but seek advice first and if neccessary replace the current policy with ojne that you are happy about and then make your claiom so you do not leave yourself without the protection this policy would offer