ULIP Review: DLF Pramerica Ezee Wealth +

Product Details

DLF Pramerica Ezee Wealth + is a Type I unit linked insurance plan. It offers higher of the sum of death benefit or fund value as death benefit. Life coverage is fixed at 20 times the annual premium. The cost structure also looks expensive. However, the insurer has managed its equities well. The Balanced Fund has also generated returns better than the NIfty.

Our View

While the scheme does not require exhaustive medical tests, the product limits life coverage. It also gives out only 50% of the sum assured or fund value, which ever is higher, as death benefit in case of the unfortunate demise of the insured in the first year of policy.

Unique Feature

Apart from no medical tests, the scheme also has an added feature of fund conservation on maturity. Under this, three years prior to maturity the entire fund value gets transferred to the debt fund. This protects the fund from stock market vagaries.

For Existing Customers

Stay invested as the scheme's equity funds have generated big returns. One may add term insurance if life cover is not adequate. High risk-return investors may consider switching to the Large Cap Equity Fund. Exercise fund conservative option to secure returns on maturity.

For Those Looking to Invest

It is an expensive plan and does not offer adequate life insurance. However, one cannot overlook the equity performance of its funds. So, unless investment is the only objective and not insurance, one should stay away from this scheme.

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Also, know how to buy mutual funds online:

1) DSP BlackRock Mutual Funds:

http://prajnacapital.blogspot.com/2011/05/buying-dsp-blackrock-mutual-funds.html

2) Reliance Mutual Funds:

http://prajnacapital.blogspot.com/2011/06/buying-reliance-mutual-funds-online.html

3) Birla Sunlife Mutual Funds:

http://prajnacapital.blogspot.com/2011/06/buying-birla-sunlife-mutual-funds.html

4) UTI Mutual Funds:

http://prajnacapital.blogspot.com/2011/06/buying-uti-mutual-funds-online.html

5) SBI Mutual Funds:

http://prajnacapital.blogspot.com/2011/06/buying-sbi-mutual-funds-online.html

6) Edelweiss Mutual Funds:

http://prajnacapital.blogspot.com/2011/06/buying-edelweiss-mutual-funds-online.html

7) IDFC Mutual Funds:

http://prajnacapital.blogspot.com/2011/06/buying-idfc-mutual-funds-online.html

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