Depending on certain Insurers, they have a feature where you have the choice to convert their whole life plan into an annuity retirement plan. It allows you to enjoy a stable stream of income at a chosen stipulated age while at the same time not terminating the policy, with a reduced sum assured.
This is suitable when you find that the sum assured for death/CI coverage is not as concerning when your life commitments have been completed or dependants are now financially sustainable on their own now.