Hello, I would like to suggest you not to stop the LIC policies. LIC is basically a long term investment and discontinuing it or withdrawing will not give proper return and sometimes the return can be less than the amount of total investment also. Hence do continue with it, and if you want to also make a investment in Mutual funds, that is a good option too but again it also involves risk..however there are many banks and organizations which do help you to decide on how to invest in an mutual fund... Hope this helps.