What happens if you terminate your critical illness plan before next renewal date?

Different insurers may have different refund policy. To be sure, the best way is to check with your insurance agent or to call the customer service hotline to confirm on whether there will be a pro-rated refund for the unused premium.

Meanwhile, I will highly recommend for you to do an in-depth comparison between the two plans to ensure that the new plan fits your needs better at a reasonable cost.

Additionally, it is worthy to note that there will be a new waiting period imposed for the new policy. With this in mind, do speak with your insurance agent to have a proper planning before the switch.

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I'd suggest that you get covered under the new policy first before terminating your existing plan.

You should be able to terminate your existing plan anytime. Depending on the terms of your contract, you may or may not receive pro rated premium refund.