[Money tips] Grow your money in a safe and savvy way with insurance protection at the same time – Dash PET and Dash PET Plus

Does growing your savings effortlessly (read: highest interest rates**) with free insurance at the same time sound appealing? 

Dash PET, an insurance savings plan from Singtel Dash and Etiqa Insurance provides you all that and more.

Whether you are just starting out on your financial journey or a savvy saver looking for more ways to diversify and grow your wealth, Dash PET, the basic version, or Dash PET Plus, the upgraded version which offers the potential of higher returns and higher insurance coverage, can meet your needs.  

Here’s the lowdown of their key benefits to help you decide.

Dash PET: Insurance savings plan

Your capital is guaranteed

You are guaranteed to get the amount you put into Dash PET back. Stay carefree without worrying about market fluctuations and sleep peacefully knowing that your money is safe, especially as Dash PET is protected by the Singapore Deposit Insurance Corporation (SDIC).

Best** interest rates

You enjoy the generous 1.5%*^ p.a. for any amount you put in starting from the minimum S$50 to S$10,000 by activating the free insurance coverage for Death & Total and Permanent Disability^{^} in the Dash App. 

If you choose not to activate the free insurance, you’ll still get 1.3%* p.a. for your first S$10,000, which is considered very attractive for a guaranteed capital product with no lock-in period. 

Start with S$50

Did I already mention that you can open a Dash PET account with just S$50? Great for those who may not have large sums at the ready. There is also no fall-below penalty to worry about, or any other spending criteria to meet. However, do note that you need a minimum of S$50 in your Dash PET to earn interest. 

100% flexibility

Unlike other financial products which require you to lock-in your money for a certain time period to enjoy competitive interest rates, Dash PET allows you to withdraw your money anytime with no penalty, giving you 100% flexibility. 

Free COVID-19 coverage (for as long as your account is active) and up to S$50,000^ free life protection (for your first Dash PET policy year)

Dash PET offers free COVID-19 coverage (including vaccine side effects) for as long as you keep your Dash PET account active (defined by having a minimum balance of S$50). This COVID-19 coverage is granted automatically once you sign up for Dash PET, there is no extra action needed from you. 

In addition, Dash PET offers free first-year insurance coverage up to 5X of account value (cap at S$50,000) for Death & Total and Permanent Disability, or Accidental Death (if user is not eligible for the former). To get this free protection, just activate the free protection, which is easily done within the Dash app. 

Enjoy higher interest rates when you activate more protection 

Those looking for additional insurance coverage can activate any of the three add-on protection plans that Dash PET provides for coverage of up to S$100,000 per plan: 

• Major Cancer: Covers critical stage cancers, including leukemia, lymphoma and sarcoma
• Accidental Death: Lump sum payment in the event of accidental death
• Death & Total and Permanent Disability: Provides lump sum payment in the event of death or inability to perform three out of six Activities of Daily Living (ADL).

Premiums start as low as 2 cents a day (based on the profile of a 17-year-old female non-smoker). Your exact profile will be generated after you fill in questions on your basic information and lifestyle within the Dash app.

For each plan you add on, you will earn additional interest of up to 0.25%^# p.a. on your first S$10,000 savings. Bonus returns are stackable; Enjoy up to a total of 2.25%*^^# p.a. for your first S$10,000 savings.  

Here’s how: 

Base interest rate:	1.3%* p.a.
Free coverage for Death & Total and Permanent Disability^:	0.2%^ p.a.
Major Cancer add-on protection:	Up to 0.25%# p.a.
Death & Total and Permanent Disability add-on protection:	Up to 0.25%# p.a.
Accidental Death add-on protection:	Up to 0.25%# p.a.
Total earnings (p.a.) Applicable to the first S$10,000 of savings	Up to 2.25%*^# p.a.

Find our more details here. 

Assuming you save a consistent balance of S$10,000 with Dash PET, activate all three add-on protection plans, and are eligible for the maximum 0.25% p.a. additional interest for all 3 add-ons, after a year you would have gained S$75 in interest, which can pay for a nice indulgent meal. Buffet dinner anyone?  

Dash PET Plus: Investment-linked Plan (ILP) with potentially higher returns

If you areseeking potentially higher returns beyond saving with Dash PET, this may be for you. Dash PET Plus is an add-on Investment-linked plan (ILP) built on Dash PET to grow your wealth through investments. Earn 2.16% p.a.¹ with Dash PET Plus from just S$1,000! 

This is an easy and stress-free way to invest as you can just leave it to the professionals. The underlying funds within the ILP are managed by UOB Asset Management (UOBAM) which aims for stable, long term returns that may potentially beat the base plan rates. The management charge is low at 0.75% p.a. of your Dash PET Plus account value.

You have full flexibility to top up, reinvest your dividends or cash it out (to your Dash PET account) anytime. 

Dash PET Plus is an option to diversify and grow your money while still holding on to the capital guaranteed Dash PET monies. Do note that this is still considered an investment, and your capital and returns are not guaranteed. There is also Death Benefit and Terminal Illness, where the maximum aggregate payable for Terminal Illness is S$5 million per life insured for all policies and riders issued by Etiqa. 

Get more info here. 

Sign up for Dash PET with $10 cashback code

Signing up for Dash PET is super easy.  Download the Singtel Dash app if you don’t already have it, click on ‘Grow Money’ tile, and fill up the application form. Android users can download the app the app here. Apple users can download the app here. 

Next, activate the account by transferring a minimum of S$50 into it. You can do it via Dash Wallet, PayNow, or Internet banking (eNets).

The whole process is seamless and done in minutes. The interface and explanation on the app was user-friendly and easy to understand. Nonetheless, should you require any further clarifications, help is just a WhatsApp away for both Dash and Etiqa customer care. 

Promotion

Earn cashback and bonus units From now till 30 September 2022, sign up and save with Dash PET and get up to S$10! – Save S$1,000 to S$2,999: S$1 in Dash credit – Save S$3,000 to S$4,999: S$5 in Dash credit – Save S$5,000 & more: S$10 in Dash credit For those of you who also sign up for Dash PET Plus, here’s what you stand to get when you make your first premium payment: – S$1,000 – S$4,999 premium: S$20 in Dash credit – S$5,000 – S$99,999 premium: S$40 in Dash credit PLUS additional 1% bonus units into Dash PET Plus account –

Use our referral code ALXDASH10 when you sign up for the app and get $10 cashback! T&Cs apply.

Know someone who would benefit from higher interest rates on their savings and get free insurance coverage at the same time? Share this article with them.

Disclaimers:

Dash PET Save & Earn Promotion: Valid till 30 Sep 2022. View full promotional terms and conditions.

**Best rates of return are in comparison with similar digital insurance savings plans available for subscription. Information 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 S$10,000 Account Value: 1.3% p.a. for the first policy year. For above first S$10,000 Account Value: 0.3% p.a. for the first policy year. Crediting rates are non-guaranteed.

^Additional 0.2% p.a. interest applies to the first S$10,000 account value of your active Dash PET policy during the first policy year while the complimentary protection is active. Complimentary protection sum assured is based on up to 5X of the first S$10,000 of your Dash PET Account Value. Complimentary Accidental Death coverage will be offered for the same sum duration if you are not eligible for this add-on 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 the 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 content is for reference only and is not a contract of insurance. Full details of the policy terms and conditions can be found in the policy contract. 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 at 1 June 2022.

Dash PET Plus is an Investment-linked Plan (ILP) which invest in ILP sub-fund(s). Investments in this plan are subject to investment risks including the possible loss of the principal amount invested. The performance of the ILP sub-fund(s) is not guaranteed and the value of the units in the ILP sub-fund(s) and the income accruing to the units, if any, may fall or rise. Past performance is not necessarily indicative of the future performance of the ILP sub-fund(s).

A product summary and product highlights sheet(s) relating to the ILP sub-fund(s) are available and may be obtained from us via https://www.tiq.com.sg/dash-pet-plus-portfolio-funds/. A potential investor should read the product summary and product highlights sheet(s) before deciding whether to subscribe for units in the ILP sub-fund(s).

¹ Source: UOB Asset Management

The portfolio illustration is based on historical returns of the underlying funds over the period mentioned. Returns are calculated on 3 years rolling monthly data on a NAV-to-NAV basis, with all dividends and distributions reinvested (net of reinvestment charges). Which is based from 2004 to 2022 for the United Singapore Bond Fund, with an average of 3.52%, and from 2018 to 2022 for the United SGD Money Market Fund, with an average of 0.80%. Minimum and maximum values are the minimum and maximum returns for 1 year over a 3 year period. Returns are as at 31 March 2022. Past performance is not a guarantee for future returns. Before investing, investors should carefully consider investment objectives, risks, charges and expenses, and if need be, seek independent professional advice.