personal finance help?

1. I am a 46 years old Army Lt colonel . My core investment is my provident fund (25k per month). Total balance is about 13 lac. I have opted to put my sixth pay commission arrears back in my provident fund. I have 2 sons in 10th and 6th class respectively. I have a 3 bedroom flat in sector 20 panchkula which require some woodwork and complete furniture (5 to 7 lac expenditure). I am not worried about pension and insurance as I am adequately covered by the Army in both. I started investing in mutual funds in 2007 only to be jolted in 2008. Presently I am invested with 2.5 lac in mutual funds with 90 percent in diversified equity as under:-
(a)BSL frontline Equity G (SIP @2k per month)
(b)DSPBR Equity – D
(c)ICICI Pru Infra-D (switched from Pru Dynamic)
(d)IDFC Premier Equity –G
(e)Kotak tax Saver-D
(f)Reliance Growth –D (SIP @2k per month)
(g)Reliance RSF Equity-G
(h)TATA Pure Equity –G (switched from TATA Indo global Infra)

2. I also have a Bajaj Allianz unit gain ULIP with 3 premiums paid @40k per year and LIC Jeevan Suraksha pension policy No122 with annual premium of 9752 Rs. I also have a LIC Jeevan Surabhi money back policy with last premium pending in [email protected] per year. I have the following queries:-
(a)Should I decrease my provident fund and increase equity exposure.
(b)Should I continue with my Bajaj Allianz ULIP next year.
(c)Should I increase my SIP amount in BSL and Reliance Growth/start any other SIP/ fatten up my existing portfolio.
(d)Should I invest lumpsum in magnum Contra.
(e)Where should I invest about 1 lac more in equity presently in my bank that I can spare.

Insurance Agents supposed to pay first Premium?

Ok , When i buy a new Insurance Policy, Money Back Policy etc.. the Agent is supposed to pay the first Premium, but iam not sure if they pay the entire first premium or some percentage.If somebody can throw some light on this aspect, would appreciate it.