DBS changed its Mutiplier plan

[banyan8]

See their faq for instructions.

Can terminate the Giro at DBS side also.

 

[IcYFl4mEz]

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?

I read u need to let it deduct for feb, then in march it will be recognised as 1/12.
I same shoe as you, am on protectfirst and this month will be 12/12.
Just bought termprotect now for it to deduct this month.

 

[reddevil0728]

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?

If you cancel it wouldn’t be recognised for this month if I remember correctly.

go see that the policy need to be in effect for bonus interest.

wait till before march deduction then cancel or in short when bonus interest is in on 8th March. Then you know for sure no need manual intervention

Can terminate the Giro at DBS side also.

You are terminating the payment method not the actual policy.

I’ll do both.

 

[banyan8]

I read u need to let it deduct for feb, then in march it will be recognised as 1/12.
I same shoe as you, am on protectfirst and this month will be 12/12.
Just bought termprotect now for it to deduct this month.

I am thinking if I should change to SavvyEndowment 22. This one seems more worthy than TermProtect?

 

[reddevil0728]

I am thinking if I should change to SavvyEndowment 22. This one seems more worthy than TermProtect?

opportunity cost vs actual cost. pick your poison

 

[IcYFl4mEz]

I am thinking if I should change to SavvyEndowment 22. This one seems more worthy than TermProtect?

For me i think I’ll stick to termprotect. SPENDING <10 to get additional 1+% for multiplier is definitely worth it.
Lazy to count min max/which method cheapest/mostnworth unless ppl shared it

 

[sglandscape]

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?

Yes your strategy should work.

 

[longfart]

It’s my first time signing up for casa promo. Is it normal to see zero balance in my multiplier account after the funds are earmarked?

 

[maumu]

It’s my first time signing up for casa promo. Is it normal to see zero balance in my multiplier account after the funds are earmarked?

yes.

what you're seeing is 'Available Balance'. you should still see the 'Total Balance' which includes the earmarked amount in your app. need to tap the arrow down icon.

 

[longfart]

yes.

what you're seeing is 'Available Balance'. you should still see the 'Total Balance' which includes the earmarked amount in your app. need to tap the arrow down icon.

Got it, thanks!

 

[sglandscape]

It’s my first time signing up for casa promo. Is it normal to see zero balance in my multiplier account after the funds are earmarked?

If you don't see 0 means the earmark failed.

 

[peppermint7]

For termprotect, do you cancel old term protect on 12/12 and re buy another new term protect to continue a fresh 12 months?

 

[reddevil0728]

For termprotect, do you cancel old term protect on 12/12 and re buy another new term protect to continue a fresh 12 months?

Are you asking whether to continue or when to stop?

 

[peppermint7]

Are you asking whether to continue or when to stop?

To roll over another 12 months. Am I able to buy back term protect or need to change to other type of insurance to be eligible for next 12 month? As term protect min is 5 years. So I need to cancel after 12 month since Multiplier only pay for 12 month. For roll over can I Buy Back the same term protect which I have cancelled to get the BI for next 12 month.

 

[sglandscape]

To roll over another 12 months. Am I able to buy back term protect or need to change to other type of insurance to be eligible for next 12 month? As term protect min is 5 years. So I need to cancel after 12 month since Multiplier only pay for 12 month. For roll over can I Buy Back the same term protect which I have cancelled to get the BI for next 12 month.

Seems like can buy back the same one, need a new policy number and new policy start date.

 

[chiokcc]

Buy a new term protect policy on the month when your previous one is in the 12th month ..... or you not sure and need to have an overlap buffer, buy the new policy in the 11th month ......

 

[chiokcc]

Seems like can buy back the same one, need a new policy number and new policy start date.

This is correct .... note new policy may cost a bit more as you have aged one more year and premium may have changed .....

 

[Froggyman]

To roll over another 12 months. Am I able to buy back term protect or need to change to other type of insurance to be eligible for next 12 month? As term protect min is 5 years. So I need to cancel after 12 month since Multiplier only pay for 12 month. For roll over can I Buy Back the same term protect which I have cancelled to get the BI for next 12 month.

Can buy a new term protect(new policy nos) and then cancel the old one after 12 months

 

[devion]

Now I understood why DBS does not allow CASA to do online. I went to signup at a branch & this time was able to cut short the queue when the DBS banker approached me to process it. During this time, he was trying to sell me other investment products. I had to listen for ~45mins to get myself off the hook.
They want the big fishes to head to their branches so that they be able to hook some to buy their products.
I think its fair for them to want to do this, but seriously the queue is overwhelming & they ought to manage this better.

 

[reddevil0728]

Now I understood why DBS does not allow CASA to do online. I went to signup at a branch & this time was able to cut short the queue when the DBS banker approached me to process it. During this time, he was trying to sell me other investment products. I had to listen for ~45mins to get myself off the hook.
They want the big fishes to head to their branches so that they be able to hook some to buy their products.
I think its fair for them to want to do this, but seriously the queue is overwhelming & they ought to manage this better.

glad you finally realise!