Which DBS insurance you recommend to buy to increase your multiplier effect?

Hi Mysteriously,

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Please don't buy insurance just for the purpose of increasing your bonuses on the multiplier category.

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Time and again I have seen one person too many buy a savings plan or such from a financial institute on the premise of extra interest for their savings account. Yes, it's nice to have an extra 1% interest for 12 months....but that savings plan is something that you are going to commit for the next 10-15 years!

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Now if you needed that savings plan, that's great. But if you weren't sure, 1% extra interest on your savings is not going to change your life dramatically. Neither is that $500 shopping voucher that may be thrown in as a carrot. But servicing a $1000/mth policy for the next 5 - 10 years might put a strain on you. And if you were going to buy it, did you remember to compare across similar plans from various insurers? After all, it is your hard earned money.

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Don't buy something for freebies. That's putting the cart before the horse. Ask if you needed the policy first. And if you do, then go ahead. The extras are just that, extras.

Please correct me if I’m wrong, from what I read about 1 year ago, you may actually use a regular saving plan(RSP) to help qualify for the extra interest, then you cancel the RSP after 12months and start another RSP.