Removing Waiver Premium and Critical illness cover from Endowment

I currently pay £82 ish per month into an Endowment Plan, which matures in 2020, with Friends Life (was Winterthur, and someone else before). The original mortgage was for £43k. I do not have a mortgage now, and have been looking at using the Plan as a savings means. I am aware it is currently on a 'red' alert and will not pay out as initially sold to me. I have looked at it several times, over the last few years, hoping things are going to improve. The latest shortfall (if 4% growth!!) is about £27k, if I reduce the payments.

My questions are:
If I reduce the Waiver Prem and Critic illness - other than less money to pay out each month and of course no Critic cover, will I lose out in any other way? Any other issues?

Friends Life said I could stop paying in - any downsides?

Any other questions or solutions I can ask Friends Life?

Any other advice please?

Many thanks