DLF Pramerica Ezee Wealth Plus

Recommendations :No

Name of the policy :
DLF Pramerica Ezee Wealth Plus

A brief desciption :

DLF Pramerica Ezee Wealth Plus is a regular ULIP providing higher of Sum Assured or Fund Value as Death Benefit and Fund Value as Maturity Benefit. However returns are restricted due to high charges levied. Moreover Sum assured is miniscule which is not sufficient to cover an earning member of the family having dependents. So it is advisable to to go for a simple term plan and invest the extra money elsewhere and earn higher returns.

Started date :
9/6/2010

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
20 times Annual Premium

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
18-50 Years

Surrender :
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

Minimum amount :
Min- 25,000 Max- 50,000

Mortality Charges :
Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below: For Age 20- Rs 1.68 , For Age 30- Rs1.98 , For Age 35- Rs 2.58

Unique features :
It provides the option to reduce the premium paying term after completion of 5 policy years. Moreover there is also an option to safeguard funds from market volatility at the time of maturity by switching funds to Debt Fund at regular intervals in the last 3 policy years before maturity


Fund Management Charge :Debt Fund- 1.20% p.a; Balanced Fund, Growth Fund and Large Cap Equity Fund- 1.35% p.a; Discontinued Policy Fund- 0.50% p.a.
Surrender/ Premium Discontinuance Charge Year 1 :For Annual Premium upto 25,000- Lower of 20% * (Annual Premium or Fund Value) but not exceeding Rs 3000, For Annual Premium more than 25,000- Lower of 6% * (Annual premium or Fund Value) but not exceeding 6000
Surrender/ Premium Discontinuance Charge Year 2 :For Annual Premium upto 25,000- Lower of 15% * (Annual Premium or Fund Value) but not exceeding Rs 2000, For Annual Premium more than 25,000- Lower of 4% * (Annual premium or Fund Value) but not exceeding 5000
Surrender/ Premium Discontinuance Charge Year 3 :For Annual Premium upto 25,000- Lower of 10% * (Annual Premium or Fund Value) but not exceeding Rs 1500, For Annual Premium more than 25,000- Lower of 3% * (Annual premium or Fund Value) but not exceeding 4000
Surrender/ Premium Discontinuance Charge Year 4 :For Annual Premium upto 25,000- Lower of 5% * (Annual Premium or Fund Value) but not exceeding Rs 1000, For Annual Premium more than 25,000- Lower of 2% * (Annual premium or Fund Value) but not exceeding 2000
Surrender/ Premium Discontinuance Charge Year 5 and above :Nil

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