If you are struggling to make payments on your existing life cover due to coronavirus, you will be able to ask your provider for help under rules set down by industry regulator, the Financial Conduct Authority (FCA).
This could include a temporary reduction in cover, which results in cheaper premiums, and waiving fees for making changes to the policy.
If you can’t come to a workable arrangement, you can ask for a payment deferral of between one and three months – in some cases longer.
You will have to actively make this request before 18 August, when the current support will be reviewed again by the FCA.
You can cancel the policy at any time without penalty but this should be an absolute last resort.