If your current policy is soon to expire then taking out a new policy or renewing the one you've already got in place is a priority.
Alternatively, if you have a policy that you're unhappy with or would like to look at replacement for to try get a better deal, you must first investigate all of your options thoroughly and make sure that you do not cancel your existing plan prior to having a new plan underwritten and fully in force.
In this situation it's a good idea to take you're time, shop around and make sure you understand how a new policy would work and what you gain and lose from switching.
You might find that by replacing a policy you lose some of the benefits if you have developed any illnesses since you took out the first policy. Certain conditions might not be covered under the new policy. It might cost you more or less and the cover you receive could be more or less.
Ultimately you need to make sure you still have all the cover you need in place.
Some policies allow you to increase your cover - particularly after lifestyle changes such as marriage, moving home or having children.
If you are unsure about whether or not these options apply to your current critical illness plan you should contact us to carry out a full review of your existing plan before taking out a new one to replace it.
If you are unable to increase the cover under your existing policy, you might still be better off taking out a new policy just to 'top up' your existing cover rather than ending your existing plan and replacing it entirely.
To research your critical illness position further you can use our exclusive interactive research tool, the critical illness finance navigator.
