DLF Pramerica unveils 8 ULIP products

New Delhi: In order to expand its product portfolio, insurance firm DLF Pramerica launched eight new unit-linked products, which includes two new single premium unit linked insurance plans (ULIPs). According to Kapil Mehta, Managing Director, DLF Pramerica Life Insurance, these plans come with features like multiple loyalty additions, potentially higher yield compared to earlier products and a range of fund options. 

The loyalty addition feature is applicable even in single premium products, even though this feature is not common in such products, reports PTI. Mehta says, "With these product launches, the company's entire range of ULIPs now complies with Insurance Regulatory and Development Authority's (IRDA) guideline capping charges in ULIPs including a cap on fund management charges." The company also launched new single premium products that offer potentially higher yield to the customer with 100 percent of premiums being invested in the unit-linked investment funds for premiums of Rs. 5 lakh and above.

The company has reduced fund management charges of 1.35 percent in three funds for its existing customers as well, with effect from December 30, 2009, Mehta said. DLF Pramerica is a joint venture between real estate firm DLF and U.S.-based Prudential International Insurance Holdings.