The first deposit is NON-REFUNDABLE for any reason.  All other deposits are refundable until April 15th. After that there are no refunds but you MAY be able to transfer some of your deposit to another traveler.  Your options are to 1) receive a refund from LHAB for your payments from February onward minus the first deposit or 2) find another traveler(s) to transfer all of the funds you have currently paid to their account and have them personally reimburse you (this can only be done once enough people have signed up to cover the spots that you signed up for).  LHAB is not facilitating any transaction between you and another traveler, and in the event that you transfer funds to or from another traveler you are fully responsible and liable for the transaction and any charges, costs, or consequences that result from it.  
After September 1, 2014, when the Passenger Manifest (name list) is turned in, travelers who are covered by the trip cancellation insurance that is included in the program (which includes a $40 supplemental charge for those age 72 or older) covers you for an “unforeseen medical emergency unrelated to a pre-existing condition”.    In other words, should the traveler have a condition that prohibits them to travel, as documented by a Doctor’s letter, they can apply for a full refund of their deposits (less a $70/person processing fee charged by Lloyd’s of London).  Things like illness, death of a spouse, heart attack, house fire, broken leg etc are covered.  Second heart attack, reaction to 8th chemo treatment, a broken heart, changed your mind, didn’t get your Passport in time, military deployment, changed jobs are examples of things not covered. 
We strongly advise everyone to read the full terms and conditions of the insurance policy, as this is a contract between you and the insurer.  We want everyone to take the time to be well-informed regarding their rights and responsibilities.