I bought a saving policy from GE in 2009, this is 8 years saving plan. Mar2016 is the last premium payment cycle for the policy.

Last week, I received a statement letter from GE, below is the summary after I compared 2016 and 2017 statement.

2017
Cash bonus balance 4267.56
Survival benefit 5252.78
Net surrender value 21326.20
Total 30846.54 (Question1: is this the value that I can get if I surrender the policy?)

2016
Cash bonus balance 3635.77
Survival benefit 4478.83
Net surrender value 23081
Total 31195.60

I am wondering why the net surrender value in 2017 is deceased as compared to 2016? After checked with agent, she told me this is due to my policy premium end date is Mar2016, the amount decreased due to no more payment in 2017.

Question2: If this is the case, will the amount decreasing from year to year? If yes, then this is defeat the purpose of buying saving plan, because the value will not grow but deceasing. Then, should I just surrender the policy?

I felt I am get cheated as this is the first year I am ended the premium payment, but I am encountered the decreased in policy value.

Can any GE agent advise me on this? Thanks.

The policy name is centennial wonder with sum assured of 20k
Annual premium rm4023.20 to pay for 8 years