Saving Amidst COVID-19: How to Achieve Financial Stability And High Returns With Dash PET
PUBLISHED October 26th, 2021 06:00 am
Blink, and before you know it, it has been almost two years since COVID-19 first entered our lives. It may have been a period marked by uncertainty, job instability, and a sluggish economy, but the pandemic has also brought about the perfect opportunity to regain control of our personal finances. It may sound like an oxymoron, but there’s really no better time to save than now.
Spending habits have changed and people are saving more due to the pandemic. According to a survey by Qualtrics, 42% of Singaporeans are watching every dollar they spend while more than half have been actively purchasing cheaper brands. Many are staying home more and spending less on entertainment or eating out. And with most travel borders remaining closed, it’s a good chance your travel funds are sitting somewhere gathering cobwebs. But why let it sit idle when you can save it for better returns?
Instead of investing your savings in stock markets, which can be volatile amidst the uncertain global economy, park it somewhere that offers high returns as well as stability. And by somewhere, we mean Dash PET by Etiqa Insurance, a high returns insurance savings plan that helps you Protect, Earn and Transact.
Currently offering the best rates in town (compared to digital insurance savings plans available for subscription, as at 9 September 2021), Dash PET lets you earn 1.5%*^ p.a. on the first $10,000 of your savings. And it’s really easy too. There are no regular top-ups or minimum spending to commit to. All you have to do is save.
If anything, there’s just one extra step. And that’s to get your FREE insurance coverage in exchange for extra returns on your savings. Wait, what? That’s right. Not only do you not have to pay for the complimentary insurance coverage, Dash PET actually rewards you with additional interest when you opt in for it.
Like how that sounds? Read on for more on how you can pandemic-proof your savings with Dash PET, the insurance savings plan that offers high returns, affordable protection, and a seamless way to transact.
Enjoy Flexibility and Best Returns on Your Savings
Did you know Dash PET currently offers the best rates among similar insurance savings plans available in the market? All you need is as low as $50 in savings (and up to $30,000) to enjoy a gamut of benefits that include:
- High rates of up to 1.5% p.a. in a low-interest environment: Earn the best rates in Singapore with the base rate of 1.3%* p.a. and an extra 0.2%^ p.a. when you opt in for free insurance protection. Boost your returns even further and get up to 0.75%# p.a. more on the first S$10,000 of your savings when you activate add-on protection plans (more details below).
- Capital-guaranteed savings: Your savings are safe against market changes and macroeconomic factors.
- No lock-in period: Keep your funds liquid and enjoy the flexibility of topping up or withdrawing your savings anytime – great for emergency usage or storing idle cash!
- Free insurance coverage: Get more value with free coverage that includes life protection of 105% of your account value as well as coverage for COVID-19, including vaccine side effects, and Death & Total and Permanent Disability^.
With the high returns, you can stretch your savings even further. Imagine this. If you’ve opted in for the free insurance coverage and saved $10,000 without making any withdrawals, you’ll earn $150 over one year without having to do anything. That’s equivalent to a staycation at a chic boutique hotel, paid for by your own diligence!
Free Protection That Gives You More Interest
If you didn’t already know, savings and insurance go hand in hand. Your savings help you deal with emergencies while insurance defrays the cost of those emergencies. During a pandemic, insurance becomes even more important.
With Dash PET’s latest enhancement, you can now meet your protection needs with free insurance coverage of up to 5 times your account value (capped at S$50,000) for Death & Total and Permanent Disability^. On top of that, your savings get upsized too.
If you were enjoying 1.3% p.a. on your Dash PET savings before, you’ll now earn 1.5% p.a. thanks to the bonus interest that comes with the free protection. And there’s no catch. Just opt in to enjoy the free coverage and extra 0.2% p.a. on the first $10,000 savings in your first policy year.
Enhance Your Insurance Coverage at an Affordable Price
Dash PET has also launched three new add-on protection plans that offer coverage of up to S$100,000 from just $0.02 a day in the following areas:
- Major Cancer: Covers critical stage cancers, including leukemia, lymphoma and sarcoma
- 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).
Launch your Dash app > Grow Money > Add-on Protection and tap on this product for full details. - Accidental Death: Lump sum payment in the event of accidental death
And in this case, it literally pays when you choose to protect yourself. For every add-on protection plan that you activate, you’ll earn additional interest – and up to 2.25% p.a.*^# in total – on your savings.
Here’s how:
| Base interest rate: | 1.3%* |
| Free coverage for Death & Total and Permanent Disability^: | 0.2%^ |
| Major Cancer add-on protection: | Up to 0.25%# |
| Death & Total and Permanent Disability add-on protection: | Up to 0.25%# |
| Accidental Death add-on protection: | Up to 0.25%# |
| Total earnings
Applicable to the first S$10,000 of savings |
Up to 2.25%*^# |
Get Rewarded When You Transact With Dash
One of the advantages of Dash PET is how it’s seamlessly integrated with the Dash wallet. Need to make a purchase? Just transfer funds from your Dash PET policy to your Dash wallet to transact and earn reward points. And if you have some spare change in your wallet, just move it to your Dash PET policy to earn more returns!
Dash is widely accepted at major supermarkets, hawker centres, Fave merchants and basically anywhere that accepts credit cards, thanks to the Dash Visa Virtual card that comes with it. Every transaction also earns you reward points that can be redeemed for vouchers at merchants like Grab, Singtel, Foodpanda, and Cold Storage.
Sounds easy, doesn’t it? Sign up for Dash PET on the Singtel Dash app to experience these benefits for yourself. Plus, check out the ongoing promotions that you can enjoy when you sign up for Singtel Dash and Dash PET here: dash.com.sg/dashpet.
This article is written in collaboration with Singtel Dash.
Disclaimers:
- The information is meant purely for informational purposes and should not be relied upon as financial advice.
- *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 non-guaranteed.
- ^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 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 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. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg). 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 19 October 2021.
