DBS changed its Mutiplier plan

[reddevil0728]

need two months. if u buy now, your money in the account will get additional interest start from april.

Is this supported by any b&w you read or assumption?

 

[init00]

Is this supported by any b&w you read or assumption?

Go read DBS FAQ on Eligible Transactions > Insurance.

Example:

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

 

[maumu]

Go read DBS FAQ on Eligible Transactions > Insurance.

Example:

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

I believe that is based on the assumption that the inception date is one month later.

I haven't come across a plan whereby the inception date is so late. usually, it's the same day or next day when you purchased.

and so it'll start counting towards multiplier the next month (e.g. bought on 20 June, recognised as 1/12 in July).

maybe the rest can share their experiences too.

 

[Nobody1964]

Just sharing. I bought my Endowment 22 policy on 7 Nov 25. It was recognized as eligible transaction for Dec 25.

 

[bargin]

BI interest in yesterday liao

 

[reddevil0728]

BI interest in yesterday liao

not new anyway. nothing to be surprised about

 

[IcYFl4mEz]

My insurance cat gonna be 12/12 this month.
So I need to buy another type of insurance, to be eligible for march recognition. But one qns is when should i cancel my currency insurance policy? After they deducted for feb, or only cancel it in march before they deducted?
troublesome thing is need to send email to manulife to cancel..

 

[reddevil0728]

My insurance cat gonna be 12/12 this month.
So I need to buy another type of insurance, to be eligible for march recognition. But one qns is when should i cancel my currency insurance policy? After they deducted for feb, or only cancel it in march before they deducted?
troublesome thing is need to send email to manulife to cancel..

when's the next deduction in march for you?

 

[IcYFl4mEz]

when's the next deduction in march for you?

I think deduction is 16th. Feb so far havent deducted for my current one , but feb will be 12/12

 

[sglandscape]

My insurance cat gonna be 12/12 this month.
So I need to buy another type of insurance, to be eligible for march recognition. But one qns is when should i cancel my currency insurance policy? After they deducted for feb, or only cancel it in march before they deducted?
troublesome thing is need to send email to manulife to cancel..

But a new one this month, cancel the existing one next month before they deduct.

 

[sglandscape]

I believe that is based on the assumption that the inception date is one month later.

I haven't come across a plan whereby the inception date is so late. usually, it's the same day or next day when you purchased.

and so it'll start counting towards multiplier the next month (e.g. bought on 20 June, recognised as 1/12 in July).

maybe the rest can share their experiences too.

That is just an illustration for how the tnc and recognition works. Check the inception date for your own policy. If the policy requires underwriting it is possible it may take a month before it is incepted due to medical screening.

 

[reddevil0728]

I think deduction is 16th. Feb so far havent deducted for my current one , but feb will be 12/12

Suggest cancel 8th March

 

[devion]

To meet the insurance portion for a 48yr old, the cheapest would be eCriticalCare correct? Its $35/mth & I reckon I will be able to cancel it any time right? Let's say for whatever reason after 5 mths I decided to remove funds from DBS multiplier & so I will terminate my eCriticalCare insurance. Then on the 8th month, I plan to place funds in my account, I can re-sign up for eCriticalCare, will this work?

 

[reddevil0728]

To meet the insurance portion for a 48yr old, the cheapest would be eCriticalCare correct?

Got try protect first?

It’s $35/mth & I reckon I will be able to cancel it any time right?

You should.

Let's say for whatever reason after 5 mths I decided to remove funds from DBS multiplier & so I will terminate my eCriticalCare insurance. Then on the 8th month, I plan to place funds in my account, I can re-sign up for eCriticalCare, will this work?

I do not get this part

 

[iadpotato]

huat ah!

 

[devion]

protect 1st only till age 45, so not eligible else would have chose that for much cheaper rate.

 

[Devilsire]

protect 1st only till age 45, so not eligible else would have chose that for much cheaper rate.

To meet the insurance portion for a 48yr old, the cheapest would be eCriticalCare correct? Its $35/mth & I reckon I will be able to cancel it any time right? Let's say for whatever reason after 5 mths I decided to remove funds from DBS multiplier & so I will terminate my eCriticalCare insurance. Then on the 8th month, I plan to place funds in my account, I can re-sign up for eCriticalCare, will this work?

TermProtect?

 

[devion]

Oh, I see term protect am eligible. Ok, btw, how do I terminate the insurance? Can do online or need to submit forms? Oh saw that need to send email to service@manulife.com to terminate it.

 

[reddevil0728]

Oh, I see term protect am eligible. Ok, btw, how do I terminate the insurance? Can do online or need to submit forms? Oh saw that need to send email to service@manulife.com to terminate it.

See their faq for instructions.

 

[banyan8]

But a new one this month, cancel the existing one next month before they deduct.

I bought a new TermProtect this week and the first premium was deducted right away. I thought there will be a 14 days free look period. Shall I cancel my existing insurance (12/12 this month) before 15th Feb?