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Want to surrender LIC Jeevan Saral policy.

Dear Manish,

I have taken LIC Jeevan Saral policy for me and my son with yearly premium of Rs 53440/- from April 2008.
i have also invested in mutul funds through sip. Now i want to purchase term insurance plan.
Can you please sugget me what to do with jeevan saral policy?
What will happen if i stop paying premium? Do i need to wait for 10 years to receive all that money which i have paid from last 4 years.
Waiting for your kind reply.
Regards
Sachin

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