Someone tried to sell that to me last year. I know it's unfavourable to consumers the moment the lock-up period terms was in it.

If you plan to bring this to court, i reckon that the odds are stacked against you. The agreement papers that you signed when you first purchased this will most probably has lines such as "you fully understand the product and agree to all other terms and conditions(the lock up period)". Having said that, you could try but you have to consider also the costs($$ & time) to undo everything.

If 6K/year is too tough for you, I'd say just cancel it and accept the losses. You could then use those to invest in some other stuffs like mutual funds to recoup your losses in the next few years.