Old life assurance policy. Anything to be done with it?

My wife and I we're lucky enough to buy our first house when (relatively) young so we we're able to take out a life assurance policy at a good rate. We've sold that house and the policy is no longer assigned to the bank. We have a new, obviously more expensive policy due to being older, policy for our new house.

The older policy is still live but is there anything that can be done with it that is financially beneficial. Is it worth keeping? Roughly a €300k pay out for €22 pm. Thanks for any suggestions.