DBS changed its Mutiplier plan

[Bombermankid]

after 12 months, can cancel the plan and buy again the same plan. that's what the others are saying... I also just joined so will have a year to ponder later.

Cancercare states that the policy term is 5 years. Means once sign up must pay monthly for 5 years and cannot cancel anytime ? Or can cancel anytime? Can't find anything about cancellation in their page apart from cancelling during free look period.

 

[maumu]

Cancercare states that the policy term is 5 years. Means once sign up must pay monthly for 5 years and cannot cancel anytime ? Or can cancel anytime? Can't find anything about cancellation in their page apart from cancelling during free look period.

(32) When will my policy end?
The policy will end:
(i) when we receive your notice in writing to end the policy;

 

[MrAppleCrumble]

In addition, even if I buy Cancercare, it is only counted for the first 12 months right ? So if there are no other options online to buy then how to buy a new policy after the 12 months ? I guess only through the bank staff ? But who knows whether DBS Multiplier still here after 12 months of course

Usually term is cannot get back money. But insurance won’t say it’s bad lah. Must see you at which stage of life now mah. How old are you. How much surplus than slowly plan.

 

[MrAppleCrumble]

EDIT THIS IS WRONG PLEASE IGNORE

UT can RSP too. But if you choose to buy lump sum, DBS divides your lump sum investment by 12 and counts it for 12 consecutive months.

For example, if you buy a lump sum $12,000 UT today, you will clock 12 months investment cat, each month with $1,000 worth of eligible investment transactions.

Wah me is jin confused so what do u mean. Why got big header on the top is wrong info???

So UT can buy every month fixed amount also?

 

[Trazora]

Wah me is jin confused so what do u mean. Why got big header on the top is wrong info???

So UT can buy every month fixed amount also?

Just ignore his post. It was wrong info. Actually he should have just deleted the post.

 

[MrAppleCrumble]

Just ignore his post. It was wrong info. Actually he should have just deleted the post.

Yea gave people the wrong concept

 

[demoforce1]

Just ignore his post. It was wrong info. Actually he should have just deleted the post.

which part is wrong?

 

[hwmook]

Cancercare states that the policy term is 5 years. Means once sign up must pay monthly for 5 years and cannot cancel anytime ? Or can cancel anytime? Can't find anything about cancellation in their page apart from cancelling during free look period.

Can cancel anytime. I have done so.

 

[hwmook]

In addition, even if I buy Cancercare, it is only counted for the first 12 months right ? So if there are no other options online to buy then how to buy a new policy after the 12 months ? I guess only through the bank staff ? But who knows whether DBS Multiplier still here after 12 months of course

Can buy the same cancercare policy after 12 months. I have done so and it works for multiplier.

 

[a4973]

Can cancel anytime. I have done so.

Must cancel in writing? Or via phone call? Thanks

 

[Trazora]

which part is wrong?

UT only count for 1 month, DBS does not break it into 12 months. The idea of breaking into 12 months applies to insurance not investment

 

[MrAppleCrumble]

UT only count for 1 month, DBS does not break it into 12 months. The idea of breaking into 12 months applies to insurance not investment

Or invest saver lol

 

[cassowary18]

UT only count for 1 month, DBS does not break it into 12 months. The idea of breaking into 12 months applies to insurance not investment

Correct. I got mixed up with other banks policy like OCBC 360 or SCB Bonus$aver which count lump sum for 12 months.

 

[demoforce1]

UT only count for 1 month, DBS does not break it into 12 months. The idea of breaking into 12 months applies to insurance not investment

thanks, I thought UT is for 12 months, luckily but Invest Saver RSP ETF

 

[hwmook]

Must cancel in writing? Or via phone call? Thanks

Download the form from manulife website and fill up then email to them, got replied next working day policy cancelled successfully and premium refunded.

 

[sansanjikikut]

Can buy the same cancercare policy after 12 months. I have done so and it works for multiplier.

But with each passing year, annual premium will sure increase. So when u hit late 4x or 5x, term lite plan becomes more ‘worth’ than ccare

 

[MrAppleCrumble]

But with each passing year, annual premium will sure increase. So when u hit late 4x or 5x, term lite plan becomes more ‘worth’ than ccare

That’s why some choose life and add rider

 

[shpesft]

Not sure why I have a problem with the cancercare premium deduction. Signed up on 2 Sep but till now the Oct premium not deducted yet.

 

[snowman80]

Ya.. same for me.
I signed up cancercare on 10 Sep and received sms said GIRO setup .. but 10 Oct no deduction on second payment.. maybe wait for another one week.. but nvm.. insurance category already appear in Bank and Save summary..

Not sure why I have a problem with the cancercare premium deduction. Signed up on 2 Sep but till now the Oct premium not deducted yet.

 

[reddevil0728]

Ya.. same for me.
I signed up cancercare on 10 Sep and received sms said GIRO setup .. but 10 Oct no deduction on second payment.. maybe wait for another one week.. but nvm.. insurance category already appear in Bank and Save summary..

Because that’s for the previous month payment