I currently have a legacy policy passed down that was bought for me by my parents from Prudential - Headstart With Profits. Paying $56 per month for a SA of $50k, should I surrender?

Get an updated Policy Illustration and calculate the IRR of the policy or required alternative return rate to match the projected returns if you were to either keep and continue paying, surrender and get an alternative policy, or even convert to reduced paid up policy.

Old policies like these can give you a high 4-6% annual return by just holding on to them. So run the numbers.

Ignore the death benefit as that is negligible, this policy is probably also now structured more as a wealth accumulation tool than for protection.