DBS changed its Mutiplier plan

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VacheronLim

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For insurance category, if policy incepted in Jan'20 (first premium paid in same month), and is reflected as eligible transaction in Feb'20

that will mean, I should terminate/surrender the policy in Dec'20 (after the deduction for Dec's premium has taken place)? And not terminate/surrender in Jan'21 (after deduction for Jan's premium occur)?
 
reddevil0728

reddevil0728

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VacheronLim said:
For insurance category, if policy incepted in Jan'20 (first premium paid in same month), and is reflected as eligible transaction in Feb'20

that will mean, I should terminate/surrender the policy in Dec'20 (after the deduction for Dec's premium has taken place)? And not terminate/surrender in Jan'21 (after deduction for Jan's premium occur)?
Click to expand...

If you pay for the first time in Jan 20, the 12th payment will be Dec and recognise for Jan 21.

So if u want to terminate, u should terminate after Dec payment and before jan deduction
 
ashethen

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heng_ah said:
I called Manulife hotline on Monday after I ensure that the Insurance part has been captured in the Bank and Earn report.

It was immediately processed and canceled. The following day I saw the next billing for CancerCare in iBanking was gone. Cancellation done. Insurance eligible is still intact in the Bank and Earn.
Click to expand...

I see. Thanks.

Looks like i have to call them to cancel

Posted from PCWX using SM-N960F
 
IronMan123

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ashethen said:
I see. Thanks.

Looks like i have to call them to cancel

Posted from PCWX using SM-N960F
Click to expand...

I emailed them (Manulife), received the pdf form as u stated.
Sent back the form via email with all the info required and duly sign digitally.
Whole process took almost a week.
When login ibanking, the insurance policy gone.
Do u guys get back the partial refund if terminate early after they deduct the money from u?
 
ashethen

ashethen

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IronMan123 said:
I emailed them (Manulife), received the pdf form as u stated.
Sent back the form via email with all the info required and duly sign digitally.
Whole process took almost a week.
When login ibanking, the insurance policy gone.
Do u guys get back the partial refund if terminate early after they deduct the money from u?
Click to expand...

i just called the hotline. just say want to terminate, then they verify my identity and that's it. terminated in a few mins inclusive of call holding time.

dont think have any refund.
 
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hwmook

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ashethen said:
i just called the hotline. just say want to terminate, then they verify my identity and that's it. terminated in a few mins inclusive of call holding time.

dont think have any refund.
Click to expand...

They refunded me 1 month premium.
 
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maumu

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hwmook said:
They refunded me 1 month premium.
Click to expand...

did you terminate too early? how come got 1 month premium refund?

thought should finish 12 months then start new cycle.. not overlap

(or is it you're ending multiplier plan?)
 
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a4973

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maumu said:
did you terminate too early? how come got 1 month premium refund?

thought should finish 12 months then start new cycle.. not overlap

(or is it you're ending multiplier plan?)
Click to expand...
Or maybe he commenced his "new" policy 1 month earlier to ensure overlapping coverage and then cancelled the"old" policy?
 
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maumu

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a4973 said:
Or maybe he commenced his "new" policy 1 month earlier to ensure overlapping coverage and then cancelled the"old" policy?
Click to expand...

hmm.. maybe. but if keep doing this (overlap) then the insurance/investment will be out of sync right? like, Nov restart insurance, Jan restart RSP, then quite luan to monitor.

for example, when i checked my bank and earn summary (on mobile app), i see both insurance and RSP at the same progress (eg. 3/12). the counter starts 1/12, 2/12, etc.

you guys showing the same progress for both? or different? (like insurance is 4/12 and RSP is 5/12).

basically for my case i started insurance in Sep (because it's eligible in Oct) and RSP in Oct (which is eligible in same month as long as applied before 15th). so both of my progress is currently 3/12 (Oct, Nov, Dec).

which means next year when I restart both insurance and RSP I will repeat what I did this year (apply insurance in Sep, start new RSP in Oct). that's correct right?
 
reddevil0728

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maumu said:
hmm.. maybe. but if keep doing this (overlap) then the insurance/investment will be out of sync right? like, Nov restart insurance, Jan restart RSP, then quite luan to monitor.

for example, when i checked my bank and earn summary (on mobile app), i see both insurance and RSP at the same progress (eg. 3/12). the counter starts 1/12, 2/12, etc.

you guys showing the same progress for both? or different? (like insurance is 4/12 and RSP is 5/12).

basically for my case i started insurance in Sep (because it's eligible in Oct) and RSP in Oct (which is eligible in same month as long as applied before 15th). so both of my progress is currently 3/12 (Oct, Nov, Dec).

which means next year when I restart both insurance and RSP I will repeat what I did this year (apply insurance in Sep, start new RSP in Oct). that's correct right?
Click to expand...

Well some ppl don’t get both at the same time so doesn’t matter.

Sounds about right.
 
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cassowary18

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reddevil0728

reddevil0728

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cassowary18 said:
Some people DCA into G3B and A35 for DBS Invest-Saver. The dividends from these also count towards Income category.
Click to expand...

You mean income category?

Anyway not really directly related to this thread should post in the respect thread on those counters.
 
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