Life happens and sometimes, meeting some financial obligations such as insurance premium becomes a challenge.
Instead of just defaulting on payments, which result in your policy lapsing, it is important to speak to your insurer first to understand what options are available for you.
This is also a common thing, but before cancelling, seek out the insurance company, agent or broker and ask the questions you still have. This may result in you keeping the policy or you cancelling the policy and taking another that addresses your needs.
Always have in mind why you took out the insurance and the valuable thing you are protecting with the insurance. Does the person trying to convince you otherwise have your best interests or are they pushing their own interests?
Express the same to your insurer, agent or broker and you could either tweak the policy to include your needs, or change to a policy that covers your needs.