DBS changed its Mutiplier plan

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curious_moo

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maumu said:
Cancelling GIRO shouldn't void the policy since it can mean that you choose to pay by cash (or other means). I'm going to do that come 1 Sep as I've paid my 12th month in August and am not going to pay again for September.

But going by what you experience... I won't call up DBS or Manulife to cancel the plan. See what happens when they fail to deduct on 16 Sep.

Ridiculous move from DBS.
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I have always canceled by terminating GIRO arrangement only, never inform manulife to cancel the policies.
So far working fine for me for the past 2 policies. Always recognized 12/12 without issue.
 
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maumu

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curious_moo said:
I have always canceled by terminating GIRO arrangement only, never inform manulife to cancel the policies.
So far working fine for me for the past 2 policies. Always recognized 12/12 without issue.
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thanks for sharing!

so what happens when the payment failed? did they call you or send you reminders? nothing? I would expect them (manulife) to send a notice of payment or something before saying the policy has lapsed...
 
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ice_angel

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I called Manulife, they said I need to download form from their web site and send it in email with my IC in order to terminate the policy. :rolleyes:
 
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vsvs24

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There is a small amount credited to my DBS Multiplier today with description "RSP cash credit". What is this and how frequently is it credited ?
 
algerr

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Apologies if out of topic here..

May I know what's with cancellation of manulife cancercare after 12mths?

Is it becos after 12 mths, manulife cancercare does not count towards the category anymore?

Appreciate some advice here as I also signed up for it not long ago..

Thanks in advance.
 
jywy2005

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RSP stands for regular savings plan. Did you buy their investment like ETF monthly?
 
jywy2005

jywy2005

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algerr said:
Apologies if out of topic here..

May I know what's with cancellation of manulife cancercare after 12mths?

Is it becos after 12 mths, manulife cancercare does not count towards the category anymore?

Appreciate some advice here as I also signed up for it not long ago..

Thanks in advance.
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I went to Manulife website and emailed them with the policy number. I realised that after 12 months, there was no discount for the premium,.
Yes, you also need to buy a new policy all over again.
I gave up on DBS Multipler as it is not worth the hassle.
 
algerr

algerr

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jywy2005 said:
I went to Manulife website and emailed them with the policy number. I realised that after 12 months, there was no discount for the premium,.
Yes, you also need to buy a new policy all over again.
I gave up on DBS Multipler as it is not worth the hassle.
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Ahhh....yes... the discount is only applicable for 1st year...

Just saw the info on the webpage:

"The first 12 months of your regular premium policy will be recognised for higher interest on your Multiplier Account balance."


so after that got to cancel and buy new policy... =(

Thx for the clarification.
 
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vsvs24

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reddevil0728 said:
It might be the promo with fee rebate
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jywy2005 said:
RSP stands for regular savings plan. Did you buy their investment like ETF monthly?
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Squaredot said:
It's RSP fee cashback for a promotion similar to the promotion below.
https://www.dbs.com.sg/personal/promotion/invest-saver
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Thanks for the replies.

Yes. I started RSP $100 per mth since Apr 2021. The rebate $3.28 tallies nicely to the monthly charge of 82 cents X 4.
 
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sansanjikikut

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Anyone insurance category clocked for this month already? For those whose first policy premium deducted between 16-31 of the month
 
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maumu

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sansanjikikut said:
Which date did you sign up for insurance? Is it before 16 of the month or after ?
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It doesn't matter?

Cancercare - deducted every 16th, showed up on 25th/26th last 3 months or so. Before that would show up within first days of month.

TermProtect - bought on 8th August, haven't shown up yet in Sep BnE summary.
 
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sansanjikikut

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