DBS changed its Mutiplier plan

[reddevil0728]

Time to buy new insurance.
Can I check will you guys let the old insurance lapse automatically?
Or need to find an agent to cancel the insurance?

And can I buy the same insurance again?

It wouldn’t just lapse.

which insurance did you buy? Go to the applicable page on DBS websites got instruction on how to cancel

 

[vbhelper]

insurance only count for next month

any idea which insurance that can count this month or can call DBS to request?

 

[Trazora]

any idea which insurance that can count this month or can call DBS to request?

all insurance applied this month count next month

 

[reddevil0728]

any idea which insurance that can count this month or can call DBS to request?

faq got state

https://www.dbs.com.sg/iwov-resources/pdf/deposits/multiplier-programme/faq-dbs-multiplier.pdf
can check out next time.

 

[travbug]

Hi, im also due to renew my insurance. My jul bank and earn summary shows 11/12 for insurance, but it is still not updated for Aug. My premium due date is on 11 Aug. So just wondering if its safe to cancel the policy before seeing the 12/12 on my bank and earn summary?

 

[maumu]

Hi, im also due to renew my insurance. My jul bank and earn summary shows 11/12 for insurance, but it is still not updated for Aug. My premium due date is on 11 Aug. So just wondering if its safe to cancel the policy before seeing the 12/12 on my bank and earn summary?

Your August should show 12/12 as long as the premium was deducted in July.

So you should cancel the GIRO arrangement first at least, so they will not process the deduction on the 11th. Then when the 12/12 shows up, can cancel the policy.

In the meantime, should buy the new plan already to kick start next cycle.

 

[demoforce1]

I am re-buy new ETF RSP, can I check the debit account can be from any account, not must debit from the Multiplier account, correct?

 

[Rayleigh1]

credit for insurance not showing up for me again this month. used to get credit by now.

 

[Squaredot]

I am re-buy new ETF RSP, can I check the debit account can be from any account, not must debit from the Multiplier account, correct?

any posb/dbs account will do.

 

[Squaredot]

credit for insurance not showing up for me again this month. used to get credit by now.

yeah, mine is not updated in B&E Summary too.
But I think it's ok, last month it was updated towards end of the month.

 

[Squaredot]

DBS 8.8 Extra Bonus Day
From 8 to 9 August 2021 only, enjoy an additional S$60 cash reward per life insured when you sign up for TermProtect with promo code ’20TP’.

https://www.dbs.com.sg/personal/promotion/insurance-termprotect

Can I buy this to replace my existing TermProtect for DBS Multiplier?

 

[oceanicmanta]

Can I buy this to replace my existing TermProtect for DBS Multiplier?

shld b able to

i m also looking to do the same ... but must keep full 12 months if not may get clawed back

 

[Squaredot]

shld b able to

i m also looking to do the same ... but must keep full 12 months if not may get clawed back

thanks bro. I think it's worth it.
can we terminate existing policy by calling hotline?

 

[oceanicmanta]

thanks bro. I think it's worth it.
can we terminate existing policy by calling hotline?

i usually just cancel the giro n let it lapse .. not sure if that's the proper way

 

[Squaredot]

i usually just cancel the giro n let it lapse .. not sure if that's the proper way

I also thought of doing this way Think no pay premium will auto lapse the policy, correct? No experience ...

Paisay, ask u one more question.
This 8.8 promo is 20%off premium +$60 cashback or $60 cashback?

 

[oceanicmanta]

I also thought of doing this way Think no pay premium will auto lapse the policy, correct? No experience ...

Paisay, ask u one more question.
This 8.8 promo is 20%off premium +$60 cashback or $60 cashback?

i think it is 20% + $60 ... will know in 2 days

 

[lancer6238]

I'm interested in this TermProtect to fulfil the Insurance category as well. Is this 20% applied on the premium indicated on the website? For example, it says that my premium is $5.55 monthly after I chose the lowest coverage and policy period. So is the 20% applied on this $5.55 (meaning the premium is actually 0.8 * 5.55) or has it already been applied? If the former, then wouldn't I essentially get free insurance with the $60 cashback, provided I hold for 12 months?

 

[maumu]

I'm interested in this TermProtect to fulfil the Insurance category as well. Is this 20% applied on the premium indicated on the website? For example, it says that my premium is $5.55 monthly after I chose the lowest coverage and policy period. So is the 20% applied on this $5.55 (meaning the premium is actually 0.8 * 5.55) or has it already been applied? If the former, then wouldn't I essentially get free insurance with the $60 cashback, provided I hold for 12 months?

After you login, apply and reach the payment page, you can see the promotion code activated which will show the final premium (and also the original premium).

so you're possibly right that $5.55 is the original (I take it you have not logged in).

likely you're going to enjoy free insurance + eligible for multiplier insurance category as you're probably very young (such that your premium is so low) .

 

[lancer6238]

After you login, apply and reach the payment page, you can see the promotion code activated which will show the final premium (and also the original premium).

so you're possibly right that $5.55 is the original (I take it you have not logged in).

likely you're going to enjoy free insurance + eligible for multiplier insurance category as you're probably very young (such that your premium is so low) .

Thanks a lot! Yeah, I did not log in, just keyed in the 3 responses and was shown the premium.

One more question - there's no penalty fee for terminating before the 5-year term is up, right? I can just cancel at anytime after 12 months?

 

[alex22]

I also thought of doing this way Think no pay premium will auto lapse the policy, correct? No experience ...

Paisay, ask u one more question.
This 8.8 promo is 20%off premium +$60 cashback or $60 cashback?

Interesting. Like that i can cancel my 1/12 term protect and reapply a new termprotect on 8.8 and take up this promo.
Yeah!