DBS changed its Mutiplier plan

[reddevil0728]

regardless, we should apply for next cycle of insurance in the month the current one expires right? so that it starts the following month.

so let's say they charge the 12th month on 16 August, which is counted for September. The bonus interest would come in on 7 September. Is it correct for me to:
- cancel the current plan on 8 September (after interest credited) before they deduct the 13th month on 16 September
- apply for next plan on 8 September
so that they will deduct in September and will start count for October?

Sounds about right

 

[Imhthc]

regardless, we should apply for next cycle of insurance in the month the current one expires right? so that it starts the following month.

so let's say they charge the 12th month on 16 August, which is counted for September. The bonus interest would come in on 7 September. Is it correct for me to:
- cancel the current plan on 8 September (after interest credited) before they deduct the 13th month on 16 September
- apply for next plan on 8 September
so that they will deduct in September and will start count for October?

That is what I will do for my investment RSP. Almost all ur steps except for the application for next plan. I generally applied anytime right after the deduction of august (in ur case in point) RSP in case I forget to apply before the cut off date.

 

[arctician]

for multiplier i just lack the insurance category, is there any no frill and low cost plan i can take just to unlock the 3% for next 50k? purely to unlock only any policy will work

 

[reddevil0728]

for multiplier i just lack the insurance category, is there any no frill and low cost plan i can take just to unlock the 3% for next 50k? purely to unlock only any policy will work

Cancercare?

 

[arctician]

Cancercare?

is there option to do e-signup? want to avoid the agents, and the premium i gues about $10+ a month? thanks

 

[reddevil0728]

is there option to do e-signup? want to avoid the agents, and the premium i gues about $10+ a month? thanks

Internet banking.

depends on age

 

[oceanicmanta]

is there option to do e-signup? want to avoid the agents, and the premium i gues about $10+ a month? thanks

remember to paste the 30% off promo code before confirming

 

[CrashWire]

just let them know on the 8th

Looks like it still got credited. No need to chase!

 

[reddevil0728]

Looks like it still got credited. No need to chase!

Seems like it. They have fixed their system.

 

[GameTheory]

Hi all, apart from CancerCare, there seems to be another policy we can take up now - TermProtect, to fulfil the insurance category. It seems to be even cheaper than CancerCare, more so now with 20% discount.

Has anyone tried that before? just to confirm if it works

 

[reddevil0728]

Hi all, apart from CancerCare, there seems to be another policy we can take up now - TermProtect, to fulfil the insurance category. It seems to be even cheaper than CancerCare, more so now with 20% discount.

Has anyone tried that before? just to confirm if it works

• Purchase any of the following regular premium policies after opening your Multiplier Account:
  • CancerCare
  • Critical SelectCare
  • eCriticalCare
  • eDecreasingTerm
  • LifeReady Plus
  • ManuEdu First
  • Manulife SmartRetire (II)
  • Manulife SmartWealth (II)
  • Manulife Spring
  • ManuInvest Assure
  • ManuProtect Decreasing (II)
  • ManuProtect Decreasing Lite (II)
  • ManuProtect MoneyBack
  • ManuProtect Term (II)
  • ManuProtect Term Lite (II)
  • Ready LifeIncome
  • ReadyBuilder – Regular Premium
  • ReadyPayout Plus
  • RetireReady Plus (III) – Regular Premium
  • SavvySpring
  • TermProtect

https://www.dbs.com.sg/personal/deposits/bank-earn/multiplier

 

[BlackCube]

Can verify that for income + 3 category, it's 0.008% for first 50k + 1.6 for the rest right?

So I have 70k, it will be (0.008 x 50k) + (0.016 x 20k) / 12 right?

So it might not be worth it to unlock the 3rd category?

 

[reddevil0728]

Can verify that for income + 3 category, it's 0.008% for first 50k + 1.6 for the rest right?

So I have 70k, it will be (0.008 x 50k) + (0.016 x 20k) / 12 right?

So it might not be worth it to unlock the 3rd category?

depends on your tier.

and assuming it's the 5k - 15k tier.

it's 0.8% and not 0.008%.

it depends how much it cost to unlock the 3rd category. if it is less than the interest u get then you will be net positive.

 

[BlackCube]

depends on your tier.

and assuming it's the 5k - 15k tier.

it's 0.8% and not 0.008%.

it depends how much it cost to unlock the 3rd category. if it is less than the interest u get then you will be net positive.

Eh, 0.008 is 0.8%, yes? Did I count wrongly?

 

[reddevil0728]

Eh, 0.008 is 0.8%, yes? Did I count wrongly?

U wrote 0.008% you go see

 

[BlackCube]

I see, I was looking at the 2nd line. My bad, didn't notice that

 

[vegavega25]

How do folks go about 'refreshing' their insurance category for the Multiplier account, if they opted for a term life policy the last time around?

Do you go back to the same agent and ask him/her to cancel the existing plan and buy a new one? Is it odd doing so? In case you go to a new agent, how do you cancel the existing plan?

And finally, when exactly to cancel - xx days before the annual premium is due?

 

[reddevil0728]

How do folks go about 'refreshing' their insurance category for the Multiplier account, if they opted for a term life policy the last time around?

Do you go back to the same agent and ask him/her to cancel the existing plan and buy a new one? Is it odd doing so? In case you go to a new agent, how do you cancel the existing plan?

And finally, when exactly to cancel - xx days before the annual premium is due?

Cancercare?

 

[GameTheory]

How do folks go about 'refreshing' their insurance category for the Multiplier account, if they opted for a term life policy the last time around?

Do you go back to the same agent and ask him/her to cancel the existing plan and buy a new one? Is it odd doing so? In case you go to a new agent, how do you cancel the existing plan?

And finally, when exactly to cancel - xx days before the annual premium is due?

Hi, I haven't tried it yet because my CancerCare is still active, but I'm thinking of doing the TermProtect after CancerCare reaches 12th month.

I believe TermProtect can now be applied online without agent involvement?
https://www.dbs.com.sg/insure/web/elt/Let me know if you are successful.

 

[highsulphur]

My insurance is ending again. So term protect is the cheapest now? Is applying online the best way? What's the discount code if anyone can share?

Thanks