why never go for montly? is it because the charges (0.08% if not mistaken)?? anyway, an agent quoted for me, 10k a year and montly pay 900.12, how they come out with it? cause 10,000/12=833.33. furthermore, if situation turns to the worst, i cannot pay the committed amount lets say after 2 years, what is most likely to happen? no interest or even the capital committed also habis??

If you surrender your policy say at 2 years, u will lose less than 20% if I m not wrong. The earlier u surrender, the more u lose.

I m not sure of such a clause in the policy about reduced plan. (from 60K to 20 K). Even if there is such clause, it will defeat the purpose of buying the plan in the first place.
NEVER over commit yourself.

Another way of doing it is by splitting ur policy. Say you wan to buy 20K per year (total 120K in 6 years), instead of buying one policy with 20K premium each year, u can opt for 2 policy with 10K each.

So in the event something unexpected happen and u can't afford the 20 K premium, then u can surrender one policy and maintain the other. Less damage done.