DBS changed its Mutiplier plan

[paurusu]

If both of u qualify based on the criteria, your wife's case is likely due to new acct opened online, she might hve to visit the branch to have her acct verified before can apply. Your case, not sure. Try Live Chat with Agent online before u visit the branch, cso might not know tho.

U can ask the branch to process manually for u, I know one branch can do it when customer reported similar problem.

Yeah i tried to run live chat on this problem- she gave me 1800 111 1111 to call instead.
That is why i turned to here to validate if anybody have issue. Thanks - i will check with branch or whatever tele-advisory thing if they can do remote.

 

[Trazora]

Yeah i tried to run live chat on this problem- she gave me 1800 111 1111 to call instead.
That is why i turned to here to validate if anybody have issue. Thanks - i will check with branch or whatever tele-advisory thing if they can do remote.

You talking to live agent on the chat?

 

[reddevil0728]

Yeah i tried to run live chat on this problem- she gave me 1800 111 1111 to call instead.
That is why i turned to here to validate if anybody have issue. Thanks - i will check with branch or whatever tele-advisory thing if they can do remote.

Eh u validate with an unofficial channel??

 

[paurusu]

You talking to live agent on the chat?

live agent - yes

 

[paurusu]

Eh u validate with an unofficial channel??

i just thought if anybody have similar problem - and can tap with that experience on how to approach this
Rather than calling and put on hold with people trying to figure what is happening

 

[vsvs24]

i just thought if anybody have similar problem - and can tap with that experience on how to approach this
Rather than calling and put on hold with people trying to figure what is happening

At which stage did you hit error ? I could still get to the screen where they show the premium amount.

 

[jetblack]

I Guess is risk analysis haven’t do

 

[paurusu]

At which stage did you hit error ? I could still get to the screen where they show the premium amount.

Very early stage. Get Started -> I agree -> Error.

 

[vsvs24]

I might want to take up insurance to hit extra category.

Cancercare is too expensive for me so need to talk to bank staff to see which is suitable. Anyone knows of any knowledgeable bank staff who is good at recommending something suitable and low cost that is eligible for DBS Multiplier ? Appreciate if you can PM the contact details. Don't have good experience with bank staff. Worried with get someone who will push expensive insurance to me if I walk in and waste time.

My cancercare premium quote is $55.34 per mth.
After 35% discount = $35.97.

I read earlier posts that those whose premium for cancercare is high went to the branch to sign up for some kind of decreasing loan insurance where the premium is cheaper than cancercare.

I went to a POSB branch this afternoon. Told the bank officer that I am looking for insurance with the lowest premium to hit DBS multiplier category for higher interest. He started to talk about some investment linked insurance. I told him no and repeated that I want the cheapest insurance for DBS multiplier. He then worked out something where the monthly insurance turn out to be $36.70 (annual $427.57). He said it is the ManuProtect Decreasing II where the min coverage is $100,000. And this is the cheapest there is.

Then I ask for brochure or information on cancercare and this insurance so that I can bring home and read and see what is covered since the premium is about the same. He said he can email the info to me but I must first go through with him some financial analysis forms. I refused and walk off.

Want to seek advise of those who compared premium of cancercare and other policies eligible for DBS Multiplier. Does his quote make sense ?

 

[reddevil0728]

My cancercare premium quote is $55.34 per mth.
After 35% discount = $35.97.

I read earlier posts that those whose premium for cancercare is high went to the branch to sign up for some kind of decreasing loan insurance where the premium is cheaper than cancercare.

I went to a POSB branch this afternoon. Told the bank officer that I am looking for insurance with the lowest premium to hit DBS multiplier category for higher interest. He started to talk about some investment linked insurance. I told him no and repeated that I want the cheapest insurance for DBS multiplier. He then worked out something where the monthly insurance turn out to be $36.70 (annual $427.57). He said it is the ManuProtect Decreasing II where the min coverage is $100,000. And this is the cheapest there is.

Then I ask for brochure or information on cancercare and this insurance so that I can bring home and read and see what is covered since the premium is about the same. He said he can email the info to me but I must first go through with him some financial analysis forms. I refused and walk off.

Want to seek advise of those who compared premium of cancercare and other policies eligible for DBS Multiplier. Does his quote make sense ?

The thing about insurance premium is dependent on a number of factors like age and other criteria. So really need to depends on your own circumstances.

 

[vsvs24]

The thing about insurance premium is dependent on a number of factors like age and other criteria. So really need to depends on your own circumstances.

Maybe I was not prepared that the cheapest premium turn out to be the same as cancercare. Is there no eligible insurance that is not tied to age and gender ?

 

[cassowary18]

What's the point in earning an extra 2.x % interest on your next $50K when most of the earnings get wiped out from the insurance premium? Either you buy an insurance plan that meets your needs, or look for alternative accounts to store your cash. Singlife is still offering 1-2.5% you know.

 

[reddevil0728]

What's the point in earning an extra 2.x % interest on your next $50K when most of the earnings get wiped out from the insurance premium? Either you buy an insurance plan that meets your needs, or look for alternative accounts to store your cash. Singlife is still offering 1-2.5% you know.

need to cal the break even cost of the insurance premium lor

 

[maumu]

My cancercare premium quote is $55.34 per mth.
After 35% discount = $35.97.

I read earlier posts that those whose premium for cancercare is high went to the branch to sign up for some kind of decreasing loan insurance where the premium is cheaper than cancercare.

I went to a POSB branch this afternoon. Told the bank officer that I am looking for insurance with the lowest premium to hit DBS multiplier category for higher interest. He started to talk about some investment linked insurance. I told him no and repeated that I want the cheapest insurance for DBS multiplier. He then worked out something where the monthly insurance turn out to be $36.70 (annual $427.57). He said it is the ManuProtect Decreasing II where the min coverage is $100,000. And this is the cheapest there is.

Then I ask for brochure or information on cancercare and this insurance so that I can bring home and read and see what is covered since the premium is about the same. He said he can email the info to me but I must first go through with him some financial analysis forms. I refused and walk off.

Want to seek advise of those who compared premium of cancercare and other policies eligible for DBS Multiplier. Does his quote make sense ?

don't mind me asking what's your age? or give a range? your quotes pretty high...

 

[savinmax]

My cancercare premium quote is $55.34 per mth.
After 35% discount = $35.97.
I want the cheapest insurance for DBS multiplier. He then worked out something where the monthly insurance turn out to be $36.70 (annual $427.57). He said it is the ManuProtect Decreasing II where the min coverage is $100,000. And this is the cheapest there is.

Want to seek advise of those who compared premium of cancercare and other policies eligible for DBS Multiplier. Does his quote make sense ?

If your age is above 50, those premiums are realistic.

Put it this way, paying 36$ a month, and getting about $158 in return ( 3.8% interest for 2nd batch of 50k ), seems still feasible and worthwhile.

You will still get a nett interest of about $122 per month for the upper 50k - that works out to about 2.95% p.a., if I am not wrong. Can you find another savings plan which can give out near that ?

And you get 'free' insurance as well. Just my view

 

[cassowary18]

need to cal the break even cost of the insurance premium lor

Must factor in opportunity cost too. If you still earning positive interest but it's less than 1% per annum then no point what. Might as well put in singlife.

 

[reddevil0728]

Must factor in opportunity cost too. If you still earning positive interest but it's less than 1% per annum then no point what. Might as well put in singlife.

yep definitely.

 

[cassowary18]

Just to check, if income is $0, credit card and investments won't update on B&E right? My salary only comes in on the 20-something of the month. I've fulfilled my credit card and investment criteria early in the month but B&E still reflecting $0. Didn't use to be like this before they changed the criteria.

 

[reddevil0728]

Just to check, if income is $0, credit card and investments won't update on B&E right? My salary only comes in on the 20-something of the month. I've fulfilled my credit card and investment criteria early in the month but B&E still reflecting $0. Didn't use to be like this before they changed the criteria.

not true. you got paylah spend is it?

 

[vsvs24]

If your age is above 50, those premiums are realistic.

Put it this way, paying 36$ a month, and getting about $158 in return ( 3.8% interest for 2nd batch of 50k ), seems still feasible and worthwhile.

You will still get a nett interest of about $122 per month for the upper 50k - that works out to about 2.95% p.a., if I am not wrong. Can you find another savings plan which can give out near that ?

And you get 'free' insurance as well. Just my view

Thanks.