My parents bought for me a whole life insurance policy for over 20 years, should I keep it? Or surrender it to ‘Buy Term, Invest the Rest’?

If you have other life plans, and the coverage is enough for you, you can consider to terminate it.

I never advise to surrender unless the policy is really bad coverage, bad wording, bad IRR and low yield to maturity.

I advocate really understanding the whole life insurance. Surrendering is not a word to be taken lightly. Although, I might want to take over your policy if that is the case (I mean if yield is good, who wouldn't right).

I would rather top up the difference (or gap) of coverage with term to BTIR.