Endowment plans, in layman terms, can be considered as setting aside a sum of money for savings. The goal is to help you save over a no. of years. Investment-Linked Policies, or ILP, is setting aside the money for investments, specifically, into unit trusts, while keeping a portion for insurance.(They either sell units to pay for insurance, or part of your premiums paid is spent on insurance.) Newer version allows you to deploy 100% into investments. As they deal with investments, past performance does not indicate further results; and there is always a possibility that you may lose your capital. For both endowment and ILP, they have guaranteed and non guaranteed figures. Guaranteed figures are guaranteed, ie, you will definitely receive it when the plan reached maturity. However, this is where the differences lie. As ILP uses the premiums to invest, chances are, there is little/no guaranteed figures. The non-guaranteed portion can be higher as they may get higher returns. Endowment uses the funds to deal with lower risk products. As such, the % returns are generally lower. As to whether you should surrender, there are a few things to consider. a) what protections are you giving up,(if any) when you surrender the policy? Can you buy a substitute, e.g. Term life, whole life, etc. b) are you good at investing? Are there strategies you can use to invest, e.g. DCA(Dollar Cost Averaging) on an index funds, stock picking, property selecting? Hope this helps. If in doubt, just ping me or the commmunity.