Birla SunLife Saral Jeevan Insurance?

Hi,

I purchased a birla sunlife saral jeevan insurance on 18th September of 2008 with annual premium of 90,695.
I am totally newbie to these investment sectors and opted for it as i needed to save my tax urgently. At the time of issuing the agent has informed me that i need to pay it for 3 years though the policy term mentioned would be 20 years and i wont have any loss on the paid amount if not profits. I have paid it for 3 years with a total of 2,72,085. i never expected it to yield me profits and was relaxed thinking that them amount i paid would not go anywhere.
Recently i have checked my fund value and its showing as 1,96,745. i immediately called the agent who sold me the policy and then he told me that it is dependent on the stock market and since its low now your fund value is less. And he also told me that i need not pay here on and go for reinvesting of my existing funds.
But my major concern is that if i reinvest again the insurance premium is going to be deducted from the current funds and its going to become less gradually.
So can you please suggest me what to do?

I would really appreciate your help on this.