Is it permissible to cancel five educational insurance policies and keep one to recover only the principal paid, knowing that insurance has been deemed impermissible after subscribing for more than ten years?

Commercial insurance is prohibited, whereas cooperative takaful insurance is permissible. If the insurance you subscribed to is of the former type, then it is obligatory to cease dealing with it. It is permissible to cancel the majority of policies and retain only one to recover the paid capital, then to stop subscribing to insurance thereafter.