DBS changed its Mutiplier plan

[ericcsn]

Did your insurance policy mature before 16 Apr 2025 ?

Check if your bank and earn summary for Apr included the insurance. If have, got chance to appeal. If it excludes, will be difficult.

Really fine print involved as 16 is a date recognised for insurance.

Wah tetrafox has only 28 messages despite being a member in HWZ for 11 years and already well conversant here making the good moves with savvy since Apr last year….

 

[maumu]

lydat it's quite misleading about the "... for 12 months" because for a 12-month plan, the customer will not get to enjoy the "12 months".

mine is maturing on 15 May, last month (April) it showed 11/12, so I'll likely suffer the same fate as Tetrafox for this month

 

[reddevil0728]

Really fine print involved as 16 is a date recognised for insurance.

so means cannot buy at the beginning of the month? lol

Wah tetrafox has only 28 messages despite being a member in HWZ for 11 years and already well conversant here making the good moves with savvy since Apr last year….

can monitor and obs but no need partake ma. can also be clone account who knows

 

[ericcsn]

so means cannot buy at the beginning of the month? lol

can monitor and obs but no need partake ma. can also be clone account who knows

A hidden tiger not fox

 

[vsvs24]

hmmm wah so means cannot buy at the beginning of the month?

Looks like better buy on 17th or later.

But new isavvy endownment no issue because no more 1 year policy.

 

[shingo86]

I had similar problem with my endowment. I call in and cso say the maturing mth / payout month won't be counted for multiplier no matter it's before or after the 16th of the month.

However, i appealed. The kind cso managed to fight for it. The interest was given to me the following month.

 

[vsvs24]

I had similar problem with my endowment. I call in and cso say the maturing mth / payout month won't be counted for multiplier no matter it's before or after the 16th of the month.

However, i appealed. The kind cso managed to fight for it. The interest was given to me the following month.

Curious.

Your policy mature before or after 16th ?

Your bank and earn summary include or exclude the insurance ?

 

[reddevil0728]

I had similar problem with my endowment. I call in and cso say the maturing mth / payout month won't be counted for multiplier no matter it's before or after the 16th of the month.

However, i appealed. The kind cso managed to fight for it. The interest was given to me the following month.

tbh i dun think is about kind or no kind cso but more about does it make sense.

 

[shingo86]

Curious.

Your policy mature before or after 16th ?

Your bank and earn summary include or exclude the insurance ?

For my case it's before the 16th. Bank and earn did not tick for that month hence my call to the cso.

 

[vsvs24]

For my case it's before the 16th. Bank and earn did not tick for that month hence my call to the cso.

Thanks.

Was trying to ascertain if the bank and earn summary is accurate for such cases. So it is.

But what the CSO say about "maturing mth / payout month won't be counted for multiplier no matter it's before or after the 16th of the month". Does not seem fair if it applies to those maturing after 16th. Let's see if anyone report such a case later.

 

[reddevil0728]

Thanks.

Was trying to ascertain if the bank and earn summary is accurate for such cases. So it is.

But what the CSO say about "maturing mth / payout month won't be counted for multiplier no matter it's before or after the 16th of the month". Does not seem fair if it applies to those maturing after 16th. Let's see if anyone report such a case later.

The inclusion of the monthly premium amount as an eligible transaction will start on the 16th of the following month after the policy inception date and continues every 16th of the month for 12 consecutive months as long as the policy is in force.

i mean faq did say as long as policy is in force... so it seems like best to incept 2nd half of the month. if not the rest has to be on discretion

 

[vsvs24]

tbh i dun think is about kind or no kind cso but more about does it make sense.

If can get this kind of CSO who willing to put up appeal and get the appeal successful is lucky. I will also term as kind.

Came across many who just tell you cannot and refuse to go further. Or give wrong info and we wait and nothing done.

 

[reddevil0728]

If can get this kind of CSO who willing to put up appeal and get the appeal successful is lucky. I will also term as kind.

Came across many who just tell you cannot and refuse to go further. Or give wrong info and we wait and nothing done.

Sure, I will see them as someone who’s logical and knows it doesn’t make sense.

I think this is more important than being kind.

 

[vsvs24]

Sure, I will see them as someone who’s logical and knows it doesn’t make sense.

I think this is more important than being kind.

1. Lazy CSO knows it does not make sense but will just choose to do less. Tell you the rules is like this. Fullstop.

2. CSO can say not eligible. When customer say want to appeal, they write to relevant team : Customer say interest lower because insurance not counted. Request for investigation.

3. Good CSO will say I will help to put up appeal. And write to relevant team : Customer say interest lower because insurance not counted. His insurance policy was effective from 5 April 2024 and matured on 5 April 2025. Customer was careful to check that previous month bank and earn shows insurance as 11/12 and assumed that it will be counted as 12/12 in Apr. He was not aware that insurance is recognized only on 16th of the month and the policy was not eligible as it had matured before 16 Apr 2025. Customer is appealing for the interest for Apr to include insurance category.

Same pay. Different attitude different outcome.

We have seen enough lousy CSOs to appreciate the good ones.

 

[Tetrafox]

Seems right. My policy expired on 5 April 2025. Hopefully the CSO is able to help me then.

 

[sd0711]

I always find it hard to get a good int rate for multiplier account? Can i know what is the best strategy?

 

[reddevil0728]

1. Lazy CSO knows it does not make sense but will just choose to do less. Tell you the rules is like this. Fullstop.

Can’t be certain if they know it doesn’t make sense then.

2. CSO can say not eligible. When customer say want to appeal, they write to relevant team : Customer say interest lower because insurance not counted. Request for investigation.

Uhuh and?

3. Good CSO will say I will help to put up appeal. And write to relevant team : Customer say interest lower because insurance not counted. His insurance policy was effective from 5 April 2024 and matured on 5 April 2025. Customer was careful to check that previous month bank and earn shows insurance as 11/12 and assumed that it will be counted as 12/12 in Apr. He was not aware that insurance is recognized only on 16th of the month and the policy was not eligible as it had matured before 16 Apr 2025. Customer is appealing for the interest for Apr to include insurance category.

Same pay. Different attitude different outcome.

We have seen enough lousy CSOs to appreciate the good ones.

Then this is about being good and doing his/her job. I thought u talking about kind previously

 

[~sabaisabai~]

I always find it hard to get a good int rate for multiplier account? Can i know what is the best strategy?

Need to hit the category. Among all multiplier is the hardest

 

[maumu]

I always find it hard to get a good int rate for multiplier account? Can i know what is the best strategy?

- use DBS Paylah! to buy a $1 item from most retail shop. Even $0.10 also can.
- use RSP to buy $100 of the cheapest fee UT monthly, then redeem after 12 months and buy another new one (the interest earned would be much more than the fees/losses if any)
- buy the cheapest term insurance (<$10 a month that kind) or park savings with one of the endowment plans they sell with Manulife which is principal-guaranteed

 

[reddevil0728]

- use DBS Paylah! to buy a $1 item from most retail shop. Even $0.10 also can.

Even 0.01 also can if can find.

- use RSP to buy $100 of the cheapest fee UT monthly, then redeem after 12 months and buy another new one (the interest earned would be much more than the fees/losses if any)

Can actually redeem as soon as credited. Don’t need to wait for 12 months.

if willing to DIY, got some UT that can buy for as low as $1. But if using RSP, those bond etf fee is 0.5% vs the rest is like 0.82%

so decide what’s more important? Low cost or low outlay?

- buy the cheapest term insurance (<$10 a month that kind) or park savings with one of the endowment plans they sell with Manulife which is principal-guaranteed

Depending on age might not be eligible for those cheap term insurance