DBS changed its Mutiplier plan

[sglandscape]

I'm still waiting for them to come up with Invest LAST so I can buy a cheap cheep plan. Currently I'm buying their TermProtect paying $18.57 monthly

Choose your preferred poison, put in 5k earn some returns vs spend 18.57 each month that's never to be recovered unless you need to claim the insurance (hopefully not).

 

[peppermint7]

Choose your preferred poison, put in 5k earn some returns vs spend 18.57 each month that's never to be recovered unless you need to claim the insurance (hopefully not).

I guess got to calculate the opportunity cost. If put in 5k the amount is locked down for years. If can earn better returns elsewhere then it is not worth it. Got to do our own calculation and go for what suit us the most.

 

[royalmix]

I'm still waiting for them to come up with Invest LAST so I can buy a cheap cheep plan. Currently I'm buying their TermProtect paying $18.57 monthly

What is Invest LAST?

I guess got to calculate the opportunity cost. If put in 5k the amount is locked down for years. If can earn better returns elsewhere then it is not worth it. Got to do our own calculation and go for what suit us the most.

Your 5k must earn more than 4% to recover your $18.57x12 cost. Topup to SA/RA/MA?

5k endowment only lock down for 2 years. Last year, need to lock down for 3 years and I went ahead cos DBS Treasures promo too good!

 

[royalmix]

Wow, I just checked, now they extend last entry age to 75! So seniors can now buy online, no need to go to the branch!

Oh now I recall, my sibling bought last year, got $5 cashback after completing a survey, feedback troublesome need to go branch to buy.

So DBS must have acted on the feedback!

 

[60Remajust]

Exactly, the best option in my opinion to unlock the insurance category, unless do not have 5k to spare. For the younger folks, good for them.

i like this suggestion alot, could i check my understanding w u guys

1.) my current protectfirst premium was paid for 2th July, so this actually covers for aug multiplier?
2.) Cancel my protectfirst giro before the aug deduction and then signup endowsavvy 23 in august too

Then it will handover nicely and cover both aug and subsequent months

 

[peppermint7]

What is Invest LAST?

Cos the younglings have ProtectFirst to buy. They should come up with ProtectLast for us seniors also

 

[peppermint7]

What is Invest LAST?


Your 5k must earn more than 4% to recover your $18.57x12 cost. Topup to SA/RA/MA?

5k endowment only lock down for 2 years. Last year, need to lock down for 3 years and I went ahead cos DBS Treasures promo too good!

Ah.. didn't know is 2 years only. This sounds good! To earn more than 4% need risk taking. Stock market is a great place to park excess funds.

 

[peppermint7]

On a seperate note. I went do my CASA on earmark end date 2 days ago. No issue at all. @royalmix don't sour grapes me hor. I can take risk type. Not asking others to do the same. Maybe heaven will punish me to lose my interest that's about it.

 

[reddevil0728]

On a seperate note. I went do my CASA on earmark end date 2 days ago. No issue at all. @royalmix don't sour grapes me hor. I can take risk type. Not asking others to do the same. Maybe heaven will punish me to lose my interest that's about it.

At least you are not in denial of the risk

that’s the most important

 

[royalmix]

On a seperate note. I went do my CASA on earmark end date 2 days ago. No issue at all. @royalmix don't sour grapes me hor. I can take risk type. Not asking others to do the same. Maybe heaven will punish me to lose my interest that's about it.

Congrats!

It helps you recover your cost of insurance! Thanks for sharing. I am happy to do based on tnc, me very professional one!

Dun make noise, wait fish, prawn and crab also dun have!

 

[peppermint7]

Congrats!

It helps you recover your cost of insurance! Thanks for sharing. I am happy to do based on tnc, me very professional one!

Ya lah, I'm the gian pern and unprofessional one. I know you will take chance to say me.

 

[sglandscape]

i like this suggestion alot, could i check my understanding w u guys

1.) my current protectfirst premium was paid for 2th July, so this actually covers for aug multiplier?
2.) Cancel my protectfirst giro before the aug deduction and then signup endowsavvy 23 in august too

Then it will handover nicely and cover both aug and subsequent months

Yes that sounds right, but to be safe you may want to keep your protect first for another month first, because I recall the policy need to be active in the month for the policy to be recognised.

So, pay the premium for Aug too, confirm it is recognised in the tracker from 20th onwards, then cancel it on 1 Sep. Concurrently, sign up for savvyendowment in August too, don't wait till end of the month, this would count from Sep onwards.

 

[nobody1968]

Does funds received from redemption of Singapore Savings Bonds count as income? Anyone tried? Cos $30,000 transactions is not easy to achieve.

 

[reddevil0728]

Does funds received from redemption of Singapore Savings Bonds count as income? Anyone tried? Cos $30,000 transactions is not easy to achieve.

coded as DIV if I remember correctly.

30k is actually not too difficult to achieve if you do trial and error

 

[nobody1968]

coded as DIV if I remember correctly.

30k is actually not too difficult to achieve if you do trial and error

Thanks, if can consider as dividend, then will be able to hit $30k, else difficult.

 

[reddevil0728]

Thanks, if can consider as dividend, then will be able to hit $30k, else difficult.

you have 30k wroth to withdraw monthly?

 

[WoShiPro]

Bought Manulife protect 1st yesterday. Manulife app show Policy effective tdy. That mean next month it be recognized on the 23?

 

[rubber33]

Bought Manulife protect 1st yesterday. Manulife app show Policy effective tdy. That mean next month it be recognized on the 23?

yes there is a 1 month delay.

 

[royalmix]

Ah.. didn't know is 2 years only. This sounds good! To earn more than 4% need risk taking. Stock market is a great place to park excess funds.

I never buy endowment until DBS offer me Treasures Promo. I am happy with 3% + casa. Last time CASA 3%, no need to "waste" 5k lock down for 3 years. Current one expiring soon, still watching where the "market" goes?

Stock market good if bull run continues, if you know, or if you lucky like BS, every buy is make gao gao!

 

[peppermint7]

I never buy endowment until DBS offer me Treasures Promo. I am happy with 3% + casa. Last time CASA 3%, no need to "waste" 5k lock down for 3 years. Current one expiring soon, still watching where the "market" goes?

Stock market good if bull run continues, if you know, or if you lucky like BS, every buy is make gao gao!

I'm doing day trading only. On good day, just for 1 day like yesterday, I can achieve 35% gain on my principal. No need bull run if you do it both ways. Just observe and follow the market flow. But the risk is very very high. That's why only spare money goes there. And that's why I'm a great risk taker now you know I'm not sure how good treasures is. In fact I receive invitation this month saying something like 5% on my excess funds since I didn't entertain when the RM called me I tell him I'm not interested. I didn't read much into the info.