If you need another reason to cancel your investment-linked policy (ILP) which you may have bought a few years ago, consider this: a lot of financially-savvy folks are now cancelling theirs. I bought my first insurance policy, an ILP, at the advice of my then-financial agent. 2 years later, I cancelled it once I realized how I had been misled to think favourably of a policy that clearly wasn't that beneficial to me. The biggest flaw I didn't spot then was the distribution fees, which entitled the fund managers and my insurance agent to be paid rather handsomely for managing my investments. At that point, I was thinking, if I'm already spending so much time swopping my funds, why should I be paying the fund managers? If I'm paying someone to manage my investments for me, then they better do a job good enough where I don't even need to ......