Bought a whole life insurance policy and need some impartial advice

So I made a mistake and trusted my friend who was the insurance agent too much and put in a one time 40k into an Investment Linked Assurance scheme.

I am considering cancelling it as I realized that the down side would outweigh up side in the long run based on the numerous testimonials from my associates and some online sources.

The policy is subject to 6% surrender charge in the first year, 5% the following year and so on until the 6th year where I can withdraw with no surrender charge.

Aside from that there are other monthly charges such as:

Account Value Charge – 1.0% per annum

Upfront Charge – 1.35% per annum (1-5 years)

Cost of Insurance – Sum at risk x COI rate (1.35%) charged monthly

The cooling period is over and it has just been the first month of my policy being in force. Going to call or email customer service to have them run a complete calculation breakdown on how much I will lose if I cancel it now just to make sure the surrender value I see does not come with other hidden charges.

Honestly, the life protection element of the policy will only return back to me 105% of original account value or the net account value with investments gains minus charges. Complete ripoff.

Just wondering if anyone has a second opinion, should I cut lost now or wait 5 years?