I am not a frequent traveler and have limited experience with flight cancellations. We are making trip to England, RDU-LHR in business. Cost is $12,500, a big splurge for us.

What would happen if I needed to cancel that flight? I bought the flight insurance offered at end of reservation process, but after reading fine print, it includes many things I don't need. I just want to protect my investment for cost of airfare.

So, if I had to cancel (for instance, for medical reason), what happens to my original payment?