Dash PET

[maumu]

Open two tranches today.
First one by eNETS.
Second one via Paynow.

Both using SCB.
No issues encountered.

both showed up as "Processing" in the 'Grow Money' tab?

am wondering if one may end up being refunded because of one of the clause about "One Cover Per Life insured" (see above)

 

[peppermint7]

@peppermint7

Not sure if you read this from the PET 2 policy contract document:

5.2 One Cover Per Life Insured
Each Life Insured is only allowed to purchase and hold one policy at any time under the same Portfolio.
If You have more than one Certificate of Insurance under the same Portfolio, We will only pay the benefit based on the first incepted policy. Subsequent policy will be considered void and We will refund the Premiums paid (less any amounts previously paid to You under the subsequent policy) without interest, less any outstanding amounts owing to Us.

Wondering if it still means it's possible to buy multiple tranches of the fixed plan, since they're all under PET 2? I'm not sure how to interpret that paragraph...

The 1 year 3 year plans that we add on are called riders. The $1 we left inside is the one and only policy we have. They are 2 different thing. So far only 1 of the rider i bought is already approved. The other one still processing. I'll ask them tomorrow and keep you posted.

 

[heng_ah]

both showed up as "Processing" in the 'Grow Money' tab?

am wondering if one may end up being refunded because of one of the clause about "One Cover Per Life insured" (see above)

I don't think they are so 'stupid' to allow customers to submit multiple tranches and then refunded them.
Isn't it too much work for their staff?
If your interpretation is correct, then they should have already blocked multiple submissions from the system side.

Before you read para 5, you need to read the Para 3 first.

"This is a single premium, yearly renewable, Non-participating universal life plan denominated in
Singapore dollars. It offers the financial flexibility, opportunity for wealth accumulation and the
assurance of life insurance coverage through providing death Benefit.
You may add optional supplementary riders to this policy for extra protection and wealth accumulation needs."

The phrase "single premium" refers to Dash PET (the initial $50)
The phrase "supplementary riders" is Plural, it refers to the 1-year or 3-year fixed plan.

Thus, we are allowed to add multiple tranches/Supplementary Riders.

 

[IcYFl4mEz]

Yep only the $50 initial went through.

Was looking to fund the policies on the 1st day of the month but oh well...

I escalated this and it takes 5 working days to get back with update. Shall see

 

[peppermint7]

Today is 1st of month and many ppl moving funds. I'm not surprise there an influx of placements that lead to delays. Let's wait for tomorrow office hour then chat them to get the answer we want.

 

[maumu]

The 1 year 3 year plans that we add on are called riders. The $1 we left inside is the one and only policy we have. They are 2 different thing. So far only 1 of the rider i bought is already approved. The other one still processing. I'll ask them tomorrow and keep you posted.

I don't think they are so 'stupid' to allow customers to submit multiple tranches and then refunded them.
Isn't it too much work for their staff?
If your interpretation is correct, then they should have already blocked multiple submissions from the system side.

Before you read para 5, you need to read the Para 3 first.

"This is a single premium, yearly renewable, Non-participating universal life plan denominated in
Singapore dollars. It offers the financial flexibility, opportunity for wealth accumulation and the
assurance of life insurance coverage through providing death Benefit.
You may add optional supplementary riders to this policy for extra protection and wealth accumulation needs."

The phrase "single premium" refers to Dash PET (the initial $50)
The phrase "supplementary riders" is Plural, it refers to the 1-year or 3-year fixed plan.

Thus, we are allowed to add multiple tranches/Supplementary Riders.

yeah, I supposed so. but the experience buying the plans has been quite bad. not just me, but a few others too.

anyway, I'll wait till tomorrow before I buy the second plan/rider. probably not a good day to buy on a weekend when there's no live support by them.

 

[peppermint7]

yeah, I supposed so. but the experience buying the plans has been quite bad. not just me, but a few others too.

anyway, I'll wait till tomorrow before I buy the second plan/rider. probably not a good day to buy on a weekend when there's no live support by them.

The only good thing is if the plan got approved, it'll start on the date we fund in. They'll not shortchange us unless they really didn't receive the funds.

 

[IcYFl4mEz]

yeah, I supposed so. but the experience buying the plans has been quite bad. not just me, but a few others too.

anyway, I'll wait till tomorrow before I buy the second plan/rider. probably not a good day to buy on a weekend when there's no live support by them.

I guess if you encountered issue tmr, the live support is working on those backlog request/Escalations , so end up still got to wait.. they will sure be flooded tmr by tons of calls

 

[heng_ah]

The only good thing is if the plan got approved, it'll start on the date we fund in. They'll not shortchange us unless they really didn't receive the funds.

Today I just checked my mailbox.
I received 2 emails from Etiqa confirming the 2 tranches opened today.
Each email contains 10 PDF document, including the cert, contract, etc.

So, it is confirmed can have multiple tranches lah.

Then I realised long time ago I "played" similar game under Etiqa Gigantiq promo.
No wonder the placement experience is smooth for me, because my existing customer data are kept by Dash and Etiqa already

 

[peppermint7]

Today I just checked my mailbox.
I received 2 emails from Etiqa confirming the 2 tranches opened today.
Each email contains 10 PDF document, including the cert, contract, etc.

So, it is confirmed can have multiple tranches lah.

Then I realised long time ago I "played" similar game under Etiqa Gigantiq promo.
No wonder the placement experience is smooth for me, because my existing customer data are kept by Dash and Etiqa already

I also did receive 3 policy numbers. 1 for Dash Pet2, the other 2 for the 2 tranches i purchased. Then today Tiq app shows 2 active policies which comprises of 1 Dash Pet2 and 1 rider. They issue a policy number for each. For easy tracking i suppose.

I also did own Dash Pet 1 and surrendered the whole policy few years ago in order to draw the whole fund out. Surprise they still have that record glaring at me in Tiq app

 

[Kayeesha]

Dash wallet u need pay $1 to paynow out. U also need to pay $1 to transfer to bank. No longer FOC. That's why we do the $Amount - $49 way

If you intend to place 50k
After u open Pet2 with $50
U transfer 50k - $49 in.

But personally mayb i didn't go set my enets higher. So mine show i can only transfer $49950 in after my initial transfer of $50 in. But after i use it to buy a tranch, i can re transfer another 50k minus my $1 in there. Anyway it doesn't matter as we can open many riders. Just the need to re-key in the form again and again is a bit... meh

Open two tranches today.
First one by eNETS.
Second one via Paynow.

Both using SCB.
No issues encountered.

Hi @heng_ah, were any of your tranches greater than $50k?

I wanted to place a single tranche at $95k. Thought the following will work:

1. eNETS $50 to my Dash PET 2 account to open the basic plan.

2. PAYNOW $94,951 to my Dash PET 2 account so that the total funds in my Dash PET 2 account is $95,001

3. Select the 3-year fixed plan entering $95,000. Leaving $1 in the Dash PET 2 account

However, I was told the maximum amount for Dash PET 2 account is only $50k. So, the above wouldn’t work.

I’m not sure if I can PAYNOW $95,000 directly to the 3-year fixed plan? If so, how do I then transfer out the $49.

As @peppermint7 had indicated it is going to cost $2 to transfer to a bank account via the Dash Wallet.

 

[peppermint7]

Paynow direct from Pet2 is 70c. If u transfer to Dash wallet and out i don't think it works as D w max can only contain 5k.

What i did years ago is surrender everything 1 short to get everything back at one go. That one no extra charges.

Another thing to note is to paynow out, it can only be in multiple of $1. You can say goodbye to your shillings. So the best i can think of is to surrender all 1 short. Unless you split purchase into different dates then no choice got to inccur this cost.

If u buy 40k + 50k, when it mature it'll go into your Pet2 wallet. Then paynow out 1 shot so no need to double pay.

But before u split, wait for my confirmation tomorrow 1st. As my 2nd rider still in process. I want to make sure we can have many riders under 1 policy.

 

[IcYFl4mEz]

Hi @heng_ah, were any of your tranches greater than $50k?

I wanted to place a single tranche at $95k. Thought the following will work:

1. eNETS $50 to my Dash PET 2 account to open the basic plan.

2. PAYNOW $94,951 to my Dash PET 2 account so that the total funds in my Dash PET 2 account is $95,001

3. Select the 3-year fixed plan entering $95,000. Leaving $1 in the Dash PET 2 account

However, I was told the maximum amount for Dash PET 2 account is only $50k. So, the above wouldn’t work.

I’m not sure if I can PAYNOW $95,000 directly to the 3-year fixed plan? If so, how do I then transfer out the $49.

As @peppermint7 had indicated it is going to cost $2 to transfer to a bank account via the Dash Wallet.

I think better hold and wait for them to stabilise first before topping up. They might need a while to sort out their system

 

[DenOOO]

I also did receive 3 policy numbers. 1 for Dash Pet2, the other 2 for the 2 tranches i purchased. Then today Tiq app shows 2 active policies which comprises of 1 Dash Pet2 and 1 rider. They issue a policy number for each. For easy tracking i suppose.

I also did own Dash Pet 1 and surrendered the whole policy few years ago in order to draw the whole fund out. Surprise they still have that record glaring at me in Tiq app

I have 3 surrendered oldies starring straight at me.

GIGANTIQ
DasH PET
Dash EasyEarn

 

[Kayeesha]

I think better hold and wait for them to stabilise first before topping up. They might need a while to sort out their system

Ok but I hope they don’t decide to terminate the promotion before that. A bit afraid that I might miss the chance to participate in it.

 

[IcYFl4mEz]

Ok but I hope they don’t decide to terminate the promotion before that. A bit afraid that I might miss the chance to participate in it.

Better than the $ stuck/missing and they take weeks to resolve.
Again, its all about luck.

 

[peppermint7]

Better than the $ stuck/missing and they take weeks to resolve.
Again, its all about luck.

Could be this afternoon there's an influx of application plus there's a notification about the system upgrading from 31st night to 1st June 6am. So all rush to put in in the afternoon. I actually did my application after midnight and another one at night about 10pm+ on 31st without issue. It seems to be the timing.

 

[zerodayAkane]

So for the 3 year plan per attempt can only do 50k is it? If you do more than 50k in a single attempt they will reject?

 

[peppermint7]

Don't think Pet2 wallet allow u to contain more than 50k? Cos after in funded in, it only left $49950 space for me to top up.

So for the 3 year plan per attempt can only do 50k is it? If you do more than 50k in a single attempt they will reject?

 

[Kayeesha]

Paynow direct from Pet2 is 70c. If u transfer to Dash wallet and out i don't think it works as D w max can only contain 5k.

Hi @peppermint7, I am looking for a solution to transfer out the $49 now and not the maturity benefit.

For the maturity benefit, probably will surrender the basic plan at the end of the 3 years, so as not to incur any charges.

What i did years ago is surrender everything 1 short to get everything back at one go. That one no extra charges.

Another thing to note is to paynow out, it can only be in multiple of $1. You can say goodbye to your shillings. So the best i can think of is to surrender all 1 short. Unless you split purchase into different dates then no choice got to inccur this cost.

If u buy 40k + 50k, when it mature it'll go into your Pet2 wallet. Then paynow out 1 shot so no need to double pay.

But before u split, wait for my confirmation tomorrow 1st. As my 2nd rider still in process. I want to make sure we can have many riders under 1 policy.