I have an existing Ready builder 20 endowment plan I bought from DBS 2 years ago. Recently I opened the DBS multiplier account. Does that still consider as 1 category transaction?

If you wish to fulfill the insurance category (and you have a huge amount of leverage on the Multiplier account, where purchasing the insurance gives you really a lot more interest compare to the premiums (making the insurance free).

Therefore we deem term insurance useful (cancercare) in this case.

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Hi Ying,

It won't count as your multiplier account was open after you got the policy, and I also advise against getting another policy for the sake of fulfilling criteria for additional interest. You should only get another policy if it fits what you need.

The bonus interest is only registered for the first 12 months, while your commitment to yet another policy will be for years. If you really needed such a policy, then that's fine, but you should also seek to compare your options across various insurers for similar policies before you commit. If the best option just so happens to be with DBS, then go for it, and the bonus interest is merely a plus.