hello Insurance sifu

After do some online research/reading, my understanding as per below, correct me if i am wrong

For MLTA/life insurance, if the nominee is others than spouse/child/parent. The nominee is just an executor
Insurance company will pay the proceed to nominee when insurer passed away
nominee have to distribute the proceed follow will or distribution act
the proceed is subject to creditor
If would like the nominee as beneficiary, need to do full or conditional assignment of the policy, which will make the original policy owner lost the full right on the policy. Any changes/amendment he/she wanted to make after that, have to get consents from the assignee. and thing will become complicated if assignee do not want provide consent.

if the nominee is spouse/child/parent.
the nominee also is beneficiary
Insurance company will pay the proceed to nominee when insurer passed away
nominee can use the proceed and will cannot override the distribution
the proceed is NOT subject to creditor
original policy owner retain the full right and he/she can change the policy without need current nominee consent

anyone here familiar with great eastern surrender value calculation? in their e-connect portal, i saw there are 2 value Net Surrender Value and Cash Bonus Balance value. Let's say i surrender my policy, i will only get Net Surrender Value or i will get Net Surrender Value + Cash Bonus Balance value