DBS changed its Mutiplier plan

[60Remajust]

wtf, so now for insurance renewal it needs to be done 2 months in advance?

premium already deducted and policy is already effective what they talking about policy inception date only 1 mth later and recognised an additional mth later ??

 

[sglandscape]

wtf, so now for insurance renewal it needs to be done 2 months in advance?

premium already deducted and policy is already effective what they talking about policy inception date only 1 mth later and recognised an additional mth later ??

Should be just one month! You do this month, effective next month, best don't do too close to the end of the month. That's why prefer to do the single premium one if can.

 

[60Remajust]

Should be just one month! You do this month, effective next month, best don't do too close to the end of the month. That's why prefer to do the single premium one if can.

i hope so. so far my protectfirst which was deducted on july and august still not reflected for august 12/12

the wordings make it sound so funny

"
The inclusion of the monthly premium amount as an eligible transaction will start on the 23rd of the following month after the policy inception date and continues every 23rd of the month for 12 consecutive months as long as the policy is in force.

Example:

Policy purchased date	20 Jun
Policy inception date	20 Jul
Multiplier recognition start date	23 Aug (You will receive your bonus interest on the 7th working day of September, if any)"

 

[reddevil0728]

Should be just one month! You do this month, effective next month, best don't do too close to the end of the month. That's why prefer to do the single premium one if can.

i hope so. so far my protectfirst which was deducted on july and august still not reflected for august 12/12

the wordings make it sound so funny

"
The inclusion of the monthly premium amount as an eligible transaction will start on the 23rd of the following month after the policy inception date and continues every 23rd of the month for 12 consecutive months as long as the policy is in force.

Example:

Policy purchased date	20 Jun
Policy inception date	20 Jul
Multiplier recognition start date	23 Aug (You will receive your bonus interest on the 7th working day of September, if any)"

sounds like policy will incept 1 month later?

 

[vddgnd]

Mine also not show up yet. Now I see I am not alone

 

[maumu]

i hope so. so far my protectfirst which was deducted on july and august still not reflected for august 12/12

the wordings make it sound so funny

"
The inclusion of the monthly premium amount as an eligible transaction will start on the 23rd of the following month after the policy inception date and continues every 23rd of the month for 12 consecutive months as long as the policy is in force.

Example:

Policy purchased date	20 Jun
Policy inception date	20 Jul
Multiplier recognition start date	23 Aug (You will receive your bonus interest on the 7th working day of September, if any)"

huh. how come it takes one month to 'incept' the policy? that's not the case in the past...

usually the inception date is the date of approval, which can be just the next day of purchase.

 

[reddevil0728]

huh. how come it takes one month to 'incept' the policy? that's not the case in the past...

usually the inception date is the date of approval, which can be just the next day of purchase.

only dbs will know man

 

[sglandscape]

sounds like policy will incept 1 month later?

Shouldn't be, based on my single premium policy done a few months back, unless they changed something since then. Usually policy would be active already the same month it us purchased, but they only recognise from next month onwards.

 

[reddevil0728]

Shouldn't be, based on my single premium policy done a few months back, unless they changed something since then. Usually policy would be active already the same month it us purchased, but they only recognise from next month onwards.

but per the faq why is it suggesting a 2 month lag time if the intention is not to give that impression. something is up...

 

[sglandscape]

i hope so. so far my protectfirst which was deducted on july and august still not reflected for august 12/12

the wordings make it sound so funny

"
The inclusion of the monthly premium amount as an eligible transaction will start on the 23rd of the following month after the policy inception date and continues every 23rd of the month for 12 consecutive months as long as the policy is in force.

Example:

Policy purchased date	20 Jun
Policy inception date	20 Jul
Multiplier recognition start date	23 Aug (You will receive your bonus interest on the 7th working day of September, if any)"

Posted a few posts back, they changed from 16th of the month to 23th of the month it seems, when I check the older pages from archive.org. Last time usually by 15th would see it being tracked on the app.

 

[sglandscape]

but per the faq why is it suggesting a 2 month lag time if the intention is not to give that impression. something is up...

Seems like they changed their faq recently, you may be right that something may indeed be up. For those affected and planing to email or call them, can share if any updates. Very strange this month.

 

[reddevil0728]

Seems like they changed their faq recently, you may be right that something may indeed be up. For those affected and planing to email or call them, can share if any updates. Very strange this month.

Whilst they might have check the box to ensure that in terms of black and white they have made it clear what customers are signing up for, but morally and ethically, if they do not call out this material change, is quite disingenuous.

 

[vddgnd]

I bought insurance 30 Jul but till today still not showing up the bonus rate

I did it last year. Purchased on 30-Jul, policy start date 30-Jul, the new policy listed under insurance on 31-Jul afternoon. Then new policy was counted as 1/12 in Aug Bank & Earn. I do not remember when it appear under B&E.

Those insurance that can be purchased online without go through agent/adviser from DBS bank will usually approved immediately and effective date on the same day of the purchase date. Those policy that require agent and then need to wait for Manulife approval may have few days delay. If this kind of policy is purchased near month end, the Policy inception date may cross over to next month and only start qualify for Bank & Earn in +2 month.

If your policy effective start date is on 30-Jul-2025, most likely you are similar to several of us that are on monthly GIRO payment, that DBS has not updated our B&E yet.

 

[vddgnd]

i hope so. so far my protectfirst which was deducted on july and august still not reflected for august 12/12

the wordings make it sound so funny

"
The inclusion of the monthly premium amount as an eligible transaction will start on the 23rd of the following month after the policy inception date and continues every 23rd of the month for 12 consecutive months as long as the policy is in force.

Example:

Policy purchased date	20 Jun
Policy inception date	20 Jul
Multiplier recognition start date	23 Aug (You will receive your bonus interest on the 7th working day of September, if

i hope so. so far my protectfirst which was deducted on july and august still not reflected for august 12/12

the wordings make it sound so funny

"
The inclusion of the monthly premium amount as an eligible transaction will start on the 23rd of the following month after the policy inception date and continues every 23rd of the month for 12 consecutive months as long as the policy is in force.

Example:

Policy purchased date	20 Jun
Policy inception date	20 Jul
Multiplier recognition start date	23 Aug (You will receive your bonus interest on the 7th working day of September, if any)"

The policy inception date for those insurance purchased online and get immediate approval will not have so long delay in policy inception date, so most of the time, still incepted same month of purchase and are recognized next month. Last month I purchased, same day can see the new policy appear under insurance in digibank.

For reference, I purchased TermProtect in Jul under monthly GIRO mode, my new policy appear in Aug B&E tonight (23-Aug-2025 11:25pm).

 

[maumu]

The policy inception date for those insurance purchased online and get immediate approval will not have so long delay in policy inception date, so most of the time, still incepted same month of purchase and are recognized next month. Last month I purchased, same day can see the new policy appear under insurance in digibank.

For reference, I purchased TermProtect in Jul under monthly GIRO mode, my new policy appear in Aug B&E tonight (23-Aug-2025 11:25pm).

yeah that should be the way... so quite surprised to read about the long delay for the policy to be incepted.

touch wood... if something really happen between the purchase date and the inception date then is very suay?

 

[reddevil0728]

yeah that should be the way... so quite surprised to read about the long delay for the policy to be incepted.

touch wood... if something really happen between the purchase date and the inception date then is very suay?

usually for insurance i think got 90days waiting period also right

 

[sglandscape]

usually for insurance i think got 90days waiting period also right

Free look is 14 days, the 90 days waiting period usually applicable only for health insurance.

 

[reddevil0728]

Free look is 14 days, the 90 days waiting period usually applicable only for health insurance.

i think life insurance also but i just went to take a look seems to be specific to (ii) Heart Attack with specified severity is diagnosed: within ninety (90) days from:

 

[AlvinDj]

B&E Insurance should already be updated as of today for those started in July25

 

[60Remajust]

Deduction for insurance is 4th of the month. The one that is registered for this month August was actually for 4th July deduction.

so I should have canceled the insurance before the deduction in August since July is already 12/12?