According to the Economist Intelligence Unit (EIU),
Singapore is now officially the second
most expensive city in the world to live in. Already, expenses can
be hard to deal with, but throw in the costs of raising children and it becomes
a brand new entity
Undoubtedly, having a child (or children) can be rewarding
and enriching in many ways. But did you know that it takes around S$350,000 to raise a
child to adulthood? Triple that and you’re looking at a million dollars! That’s
going to take some serious financial planning.
To better manage the costs of raising a family, it’s
important that you plan ahead so that you can save more and future-proof your
finances. One baby step to saving smarter is to leverage a high returns insurance
savings plan like Dash PET by
There’s no better way to stretch your dollar than to place
your savings somewhere that gives you high returns. At the same time, the last
thing you want to do is risk losing the money meant for your childrens’ living
and educational needs to volatile macroeconomic forces.
Here’s where an insurance savings plan like Dash PET comes
in handy. Offering high returns of up to 1.5%*^ p.a. on your savings as well as
free insurance coverage, Dash PET lets you grow your money while protecting you
at the same time. On top of that, it is safe and capital-guaranteed, which
means that you’ll only get more – and never less – than what you’ve put in. The
plan is also protected by SDIC so you get extra peace of mind.
By saving at least S$50 in your Dash PET policy (and up to
S$30,000), you’ll unlock all the following benefits:
rates of up to 1.5%* p.a. in a low-interest environment: Enjoy 1.3%* p.a.,
and an extra 0.2%^ p.a. when you opt in for free insurance protection^, on the
first S$10,000 of your savings. Beyond the first S$10,000 savings, rates are at
coverage: Get free coverage that includes life protection, COVID-19 and
vaccine side effects, as well as Death & Total and Permanent Disability^.
savings: Keep your hard-earned savings safe from external market forces
that are beyond your control
Flexible with no
lock-in period: Forget about high initial deposits, long lock-in periods or
having to pay for early withdrawals. With Dash PET, you’re free to make top-ups
or withdrawals any time, from amounts as little as S$1 each time. Enjoy
liquidity while optimising every dollar at the same time – great for
Don’t underestimate the importance of flexibility. Something
always crops up when you have children and it’s good to store your savings
somewhere that you can access easily to pay for last-minute expenses.
Remember how airline safety videos always ask you to put on
your oxygen mask before tending to your child? It’s the same thing with
financial planning – help yourself first, so you can help your family. In this
case, it means having sufficient insurance coverage so that you and by effect,
your family, are well protected from life’s unexpected events.
Dash PET helps in this aspect by giving you FREE insurance
coverage. Besides life protection at 105% of your account value, it also offers
complimentary coverage for Death & Total and Permanent Disability^ for up
to five times your account value, capped at S$50,000. At the same time, you’ll
also enjoy extra interest of 0.2% p.a. when you opt in for the free insurance!
And if you are looking for more coverage, Dash PET has three add-on protection plans
for you to choose from – Major Cancer, Death & Total and Permanent
Disability, and Accidental Death. You can get coverage of up to S$100,000 per
plan, with premiums starting from S$0.02 per day (based on S$10,000 sum assured
for a 17 year-old female non-smoker). On top of that, each protection plan you
activate lets you earn up to an additional 0.25%# p.a. on the first
S$10,000 of your savings.
For example, if you’ve opted in for the free insurance
protection, and expanded your coverage by activating all 3 add-on protection
plans, you could enjoy returns of up to 2.25%*^# p.a.!
Here’s how it’s broken down:
Dash PET base plan:
Free coverage for Death &
Major Cancer add-on protection:
Up to 0.25%#
Death & Total and Permanent
Up to 0.25%#
Accidental Death add-on
Up to 0.25%#
Applicable to the first S$10,000 of savings
Up to 2.25%*^#
(or up to S$225)
Imagine saving S$10,000 with Dash PET without making any
withdrawals, you’ll receive S$225 simply by placing your money in there. That’s
equivalent to a free family outing to the Singapore Zoo and River Safari, or
approximately 56 free meals at the hawker centre if you’re looking to celebrate
the new year with a local feast. Yum.
Ever gone out to buy something only to realise you left your
wallet at home? With Dash PET, and the all-in-one mobile wallet app that it’s
housed on – Singtel Dash
– payments are a breeze no matter where you are. You can scan and pay at
supermarkets, hawker centres, and more than 12,000 Fave merchants islandwide,
or use the Dash Visa Virtual
Card at any place where credit cards are accepted.
It’s easy to transfer funds between your Dash wallet and
Dash PET policy too, with amounts from as low as S$1 and no limits on how often
you can do so. Insufficient funds in your Dash wallet? Just transfer what you
need from your Dash PET policy. Similarly, if you have excess cash sitting idly
in your wallet, just move it to your Dash PET policy for extra earnings!
On top of that, you’ll earn Dash reward points each time you shop, commute
and remit with Dash! These points can be redeemed for vouchers at Grab, Cold
Storage, Singtel Shop, foodpanda and ZALORA. As every savvy mother would know,
a little savings here and there can add up to go a long way.
There’s no doubt that every mother is a super multi-tasker.
Take a little breather sometimes by relying on tools that can make your life
easier. Dash PET is one such instance when it comes to managing your family
Besides giving you high returns on your savings, protecting
you with affordable insurance, and letting you pay with ease, it is also safe
and flexible. It’s the perfect all-in-one tool for busy mothers.
Try it for yourself and sign up for Dash PET on the Singtel Dash app
This article is written in collaboration with Singtel
The information is meant purely for informational
purposes and should not be relied upon as financial advice.
**Compared to similar digital insurance savings plans
available for subscription, as at 9 September 2021. This comparison does not
include information on all similar products. Etiqa Insurance does not guarantee
that all aspects of the products have been illustrated. You may wish to conduct
your own comparison for products that are listed in www.comparefirst.sg.
*For the first policy year, 1.30% p.a. up to S$10,000
and 0.30% p.a. for subsequent amount in Account Value. Crediting rate is
^Additional 0.2% p.a. to the existing 1.3% p.a. returns
for your first S$10,000 Dash PET savings during the first policy year while the
complimentary protection is active. Complimentary Accidental Death coverage
will be offered for the same duration if you are not eligible for the free
Death & Total and Permanent Disability protection. Sum assured will be
based on your age and occupation.
#Additional interests of up to 0.25% p.a.
from each activated payable add-on protection applies to the first S$10,000
account value of your active Dash PET policy.
Dash PET is not a bank account or a fixed deposit. It
is an insurance savings plan that earns a crediting interest rate. This policy
is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K).
This advertisement is for general information only. Terms apply. Full details
of the policy terms and conditions can be found in the policy contract on dash.com.sg/dashpet.
Protected up to specified limits by SDIC. As buying a life insurance policy is
a long-term commitment, an early termination of the policy usually involves
high costs and the surrender value, if any, that is payable to you may be zero
or less than the total premiums paid. You should seek advice from a financial
adviser before deciding to purchase the policy. If you choose not to seek
advice, you should consider if the policy is suitable for you. This
advertisement has not been reviewed by the Monetary Authority of Singapore.
Information is accurate as of 14 March 2022