POSB launches innovative "Bank and Earn" programme

Most of us would have a POSB or DBS account which we will be able to earn cash back from now onward. I just received this information from DBS which I found it quite useful for most of us.

With “POSB Cashback Bonus”, we need only to fulfil three or more types of regular banking transactions to enjoy cashback rewards, without the need to make additional deposits.

We can earn up to SGD 130 per month via salary crediting, credit card spending, home loan instalments, insurance premiums, or investments.

POSB LAUNCHES INNOVATIVE “BANK AND EARN” PROGRAMME

FIRST BANK IN SINGAPORE TO REWARD CUSTOMERS WITH MONTHLY CASHBACK

FOR REGULAR BANKING TRANSACTIONS

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POSB today announced the launch of an innovative “bank and earn” programme which will reward customers with cashback every month through regular banking transactions. This programme is also the first-of-its-kind in Singapore which allows customers to earn straight cashback rewards without making additional funds deposits on their account balances.


The “POSB Cashback Bonus” programme is the first of its kind in Singapore to offer customers direct monthly cashback simply by fulfilling at least three types of regular banking transactions. This is a simple programme for customers to earn cashback as the majority of POSB/DBS customers are already conducting these transactions with the bank. For example, customers will only need to conduct at least three of the following transactions every month to earn up to SGD 130 per month in cashback rewards:
         

1.     Credit their monthly salary (Minimum amount of SGD 2,500; cashback of 0.3%; monthly cashback cap of SGD 20)

2.     Spend on their POSB/DBS credit cards (No minimum amount required; cashback of 0.3%; monthly cashback cap of SGD 20)

3.     Pay their monthly home loan instalments (No minimum amount required; cashback of 3%; monthly cashback cap of SGD 30)

4.     Pay their POSB/DBS insurance premiums (No minimum amount required; cashback of 3%; monthly cashback cap of SGD 30; insurance products should be purchased after signing up for the programme)

5.     Invest through POSB/DBS (No minimum amount required; cashback of 3%; monthly cashback cap of SGD 30; investment products should be purchased after signing up for the programme)



See below for two examples of how we can earn generous cashback rewards from regular banking transactions:


Scenario A: Early-Career Individual (monthly transactions)


Salary Credit: SGD 2,500 (Cashback of SGD 7.50)

Credit Card Spend: SGD 500 (Cashback of SGD 1.50)

Home Loan Instalments: SGD 800 (Cashback of SGD 24)

Insurance: SGD 350 (Cashback of SGD 10.50)

Investments: SGD 200 (Cashback of SGD 6)



Total cashback: SGD 49.50 monthly and SGD 594 yearly



Scenario B: Mid-Career Individual (monthly transactions) 


Salary Credit: SGD 5,000 (Cashback of SGD 15)

Credit Card Spend: SGD 1,000 (SGD 3)

Home Loan Instalments: SGD 1,000 (Cashback of SG30)

Insurance: SGD 500 (Cashback of SGD 15)

Investments: SGD 1,000 (Cashback SGD 30)



Total cashback: SGD 93 monthly and SGD 1,116 yearly



Earlier this year, POSB conducted a survey among some 800 customers on their reward preferences based on their banking relationships. The majority of customers responded that they prefer the following features for their banking accounts:


·         Rewards structure that is straightforward and simple to understand

·         Cashback rewards which are credited to their accounts regularly

·         Rewarded based on their multiple relationships and transactions done with the bank

·         No requirement to make additional deposits to earn rewards


Said Jeremy Soo, Head of Consumer Banking Group Singapore, DBS Bank, “We are delighted to introduce this programme that rewards our customers based on their banking relationships with us. Currently, most of our customers are already conducting regular banking transactions with us and this means that customers can simply enjoy monthly cashbacks with ‘POSB Cashback Bonus’ without doing a lot more. As the ‘People’s Bank’, we are committed to offering our customers greater value through innovative products and services, and to providing superior deals for them to enjoy.”


To enroll in the “POSB Cashback Bonus” programme, simply log on to POSB/DBS iBanking to register, and nominate a deposit or credit card account to receive your monthly cashback. Visit www.posb.com.sg/cashbackbonus for more information on the programme.


In 2013, the bank launched the DBS Multiplier Programme to reward emerging affluent customers for consolidating their finances with DBS. With DBS Multiplier, which was recently enhanced in August 2016, customers are able to enjoy a higher interest of up to 2.68% p.a. on their account balances by fulfilling any three of the five transaction categories. The programme has been a hit with customers and the bank has now more than 90,000 accounts. For more information on the “DBS Multiplier Programme”, please visit www.dbs.com.sg/personal/landing/dbs-multiplier/.

*This is NOT a sponsored post

Outdoor, indoor features that you think are covered may surprise you

Many consumers think their homeowner policy covers everything they own, both inside and on their premises outside of their home. However, you should be aware that most homeowner policies do not cover everything you own. 

Creative Commons Backyard Pool by
Alvin Smith is licensed under CC BY 2.0 

Here are some common features that people may think is covered by a standard homeowner policy. 

Outside your home:

• Retaining walls
• Pools that sit above and below ground
• Gazebos
• Spas/hot tubs 
• Rockeries and other landscaped areas
• Driveways
• Sidewalks
• Foundations
• Fences
• Pump houses
• Garden sheds
• Greenhouses 
• Playground equipment

Inside your home:

• Collectibles
• Money
• Jewelry
• Artwork 
• Musical instruments

Talk to your agent or broker to find out if items like these are covered.  If coverage isn’t available, you’ll want to maintain and safeguard the property at your own cost, and do the best you can to keep it from damage. It’s a good idea to have a discussion about these types of property before you buy a policy.

Read more about homeowner's insurance on our website. Questions? You can contact our consumer advocates online or at 1-800-562-6900.

MINDEF & MHA Group Insurance

Many of us would have seen the news on the new subsidised insurance which MINDEF is providing to all personnel including regulars, NSF and NSmen. This also extends to your spouse and children. You can read the news here.

The purpose of this post is to uncover the protection provided and the premiums payable. From what I see so far, the coverage we get and the premiums payable is so much lesser than if we were to get from outside insurance agents. You'll be surprised it is about half the cost. This is one of the 30 recommendations by the Committee to Strengthen National Service (CSNS) to better recognise the contributions of national servicemen to national defence and security, and to strengthen our care for them.

If you've served national service, this will be of interest to you. If not, if your spouse has served national service, you can also get the insurance through him or her.

What is the MINDEF & MHA Group Insurance?

Under the MINDEF & MHA Group Insurance, there is group term life and personal accident insurance. Even if we do not buy any insurance, from 1 July 2016, we will automatically be provided with $150,000 group term life and $150,000 group personal accident insurance coverage during the period of our full-time NS and operationally-ready NS (ORNS) duties. The premiums are fully paid by MINDEF and MHA.


Group term life insurance

To get additional coverage, we can opt for the voluntary scheme. This scheme will only be available from 1 July 2016 for MHA personnel and 1 October 2016 for MINDEF personnel. We can get term life and personal accident insurance through this scheme. I will focus more on the MINDEF/SAF group. The premiums for the Group term life insurance is as below:

(Group Term Life Premiums)

As we can see, for a coverage of 1 Million, the premiums is only $41 per month. This covers 1 Million in the event of death or Total Permanent Disability only. If we compare to a term life insurance in the market using compare first website, the lowest will be $71 per month.


Critical Illness Rider

If we're thinking to just get insurance for death and total permanent disability, then it wouldn't be much of an issue. However, if we want to add in riders for critical illness, there are certain limitations for this scheme.

The limitations are:

1. Critical illness only cover maximum $350K
2. The premiums are not flat but increasing 

The critical illness rider under the Group term life insurance is called "living care". It covers against 37 common critical illness. Here are the premiums payable:

(Living care rider premiums)

As we can see, the premiums are in age bracket and not flat rate. This means we have to pay more per month as we hit the next age bracket. The problem is when we get pass 50 years old, the premiums can be quite a lot and even more when we are above age 60. If we are planning to add in this rider, there may be a problem in later parts of our life.


Disability Income Rider

There is also another optional rider called disability income. This coverage will replace your income in the event of disability. The annual coverage amount is based on 50% of your monthly basic salary multiplied by 12 times up to a maximum annual benefit of S$120,000. 

Here is the premiums table:

Similar to the living care rider, the disability income rider premiums are increasing. A point to note is the riders have to be bought together with the Group Term Life or Group Personal Accident insurance. We cannot buy the riders only without the main insurance.

Group Personal Accident insurance

For the personal accident insurance, it provides coverage in the event of an accident. We can cover up to $600,000 at cheap premiums.

Here's the premiums table:

(Personal Accident Premiums)

For personal accident, the premiums are on a flat rate and doesn't cost much. For the full list of items and conditions we can claim, you can refer to the brochure here.

List of resources

Lastly, I've complied the list of brochures from the website which I've wrote in this post. You can refer to the brochures for more information on the coverage and the premiums. I understand that to apply for the insurance, we cannot get through the public insurance agents channel and have to purchase direct from Aviva.

1. Group Term Life Product Summary
2. Group Personal Accident Product Summary
3. Living Care Product Summary
4. Disability Income Product Summary

For the full suite of insurance offered under the MINDEF & MHA Group Insurance, you can refer to the website here.

The above products are more for MINDEF personnel. For MHA personnel, you can refer here. It is quite similar from what I see.

I hope this post is useful for those who want to find out more on the new group insurance for people who served national service and played a part in contributing to national security. Don't forget this applies for your spouse and children as well so you can also buy for them through the voluntary scheme.

The Health Insurance Process - When the Patient Gets Stuck

Thinks about demonstrate that ER costs make up the greatest bit of sums owed from safeguarded and uninsured patients attempting to pay doctor's visit expenses!

In Network or Not?

Did you realize that around 66% of crisis room specialists are self employed entities who might possibly be in your protection arrangement? What's more, in a practice called parity charging, any out-of-system supplier or lab can charge you for whatever your protection does not cover. You may get bills from a few substances, some of which you never at any point met!

What is an out-of-system supplier mean? This is a medicinal services proficient that does not have an agreement with a protection arrangement. In this way, the supplier does not need to acknowledge the protection's suitable sum as installment in full.

The Ambulance

Consider the rescue vehicle as well. In the event that the rescue vehicle organization that takes you to the ER does not hold an agreement with your protection, you could be on the snare for more than $2,000.00 relying upon where you live in connection to the ER and what level of consideration your get before landing at the doctor's facility. Also, if your insurance agency infers that an ER visit wasn't justified, you may owe much more cash.

To evade these dreadful shocks, consider the accompanying methodologies:

Protection Policy

It may sound simple since it is. Ask your safety net provider what the arrangement does and does not cover in case of crisis consideration. This incorporates the ER copay, coinsurance, and deductible - all through system. Numerous patients are astounded to realize there are diverse qualities for out-of-system consideration. A few arranges even have a layered installment framework. Discover which range clinics are in system with your protection. Check with the doctor's facility to see which ER specialists are in system in your protection arrangement.

Discover how your arrangement characterizes a restoratively essential emergency vehicle ride and what is required to offer a non-installment choice.

EMTs choose which clinic they will take you as well yet you can ask for a specific one. Demand an in-system specialist when the affirmation structures are finished. Know, be that as it may, your protection may deny the charge in the event that you ask for a doctor's facility promote away and could have been dealt with at an area closest you.

Out-of-Network Bills

On the off chance that you get a bill for out-of-system charges that you couldn't avert in light of the crisis, then it's a great opportunity to get the opportunity to work. Inquire as to whether they'll take care of the expenses at the in-system rate. Contact the suppliers and ask what the protection has officially paid and approach them to settle for that or arrange for a lower sum.

Around a fourth of US states have buyer assurance laws that confine suppliers from equalization charging in certain consideration circumstances like crises. A few laws apply just to certain wellbeing arranges or certain suppliers. Contact your state's protection division for specifics.

In the event that this comes up short, contact your protection to figure out what must be submitted to document an advance and time limits for recording. By and large, documentation from the provider(s) will be required. On account of an out-of-system circumstance, request that the specialist give a letter bearing witness to a decent confidence exertion was made to use a contracted supplier and no fair access to such supplier existed.

Be Careful Buying A Used Car That May Have Been A Flood Victim

As of late, we saw an immense surge in Louisiana where somewhere in the range of 20,000 individuals must be cleared. Some say it wasn't the ever-dreaded 100-year surge, more like the 1,000-year surge. 10s of a large number of homes have been red hailed and are presently dreadful, base gone, schools demolished and enormous quantities of autos absolutely submerged. We should discuss this.

One of the numerous stories in the media originated from NBC News; "Louisiana Flooding Far From Over Despite Expected Respite From Rain," by Cassandra Vinograd and Alex Johnson distributed on August 15, 2016. The story recounted families escaping, houses overflowed, covers set up and autos submerged.

As a previous franchisor of a portable auto washing idea, I can review the immense quantities of overwhelmed autos appearing at auto barters, requiring itemizing and cleaning - continually thinking about whether the purchasers would be advised by the utilized auto dealerships purchasing these autos, maybe delivering them out West to California. At a certain point around 10-years prior the issue got so awful that the US government needed to venture in and make laws to shield customers from this fake movement. 100s of a large number of autos have been considered overflowed and in this way squashed for scrap - insurance agencies not able to re-offer those autos at sales.

Not very far in the past, I was helped to remember this law with a story in the Charleston Gazette-Mail titled; "WV law shields customers from accidentally purchasing surge harmed autos" Phil Kabler distributed on July 17, 2016 which expressed:

"With potential for vehicles harmed in the June surges to appear available, West Virginia customers can take comfort in knowing state law requires automobile merchants to give guarantees on vehicle deals, and precludes offering vehicles that have been submerged without a rescued title. 'With current law, in the event that you purchase a vehicle and it winds up having issues as a result of it, you recover your cash,' he said of surge harmed vehicles. 'With 'as may be,' you're screwed over thanks to it, unless you particularly asked, 'Was it in the surge?' and the merchant misled you."

Fortunately, there are presently standards, directions and laws set up to secure auto purchasers and customers. On the off chance that you are going to purchase an utilized auto, get some information about its history, particularly if the auto has ever been in a surge. You have buyer rights, essential ones, and new rights that buyers two or three decades prior didn't have, and paid for beyond a reasonable doubt. It would be ideal if you verify whether the utilized auto you are purchasing is to be sure fit as a fiddle and has never been submerged.

Most Common Car Insurance Discounts

The reports list a variety of use classes and normal sum, yet they stay substantial markers of how costly collision protection can be. It deteriorates when driver falls under high-hazard classification. A high-hazard driver is one who has inclination to document asserts more frequently than a normal individual because of history of intermittent inclusion in mishaps, absence of experience in the driver's seat, vision weakness, and awful financial assessment. Collision protection organizations see high-hazard drivers as undesirable clients. More claims mean more payout, and this is terrible for organizations. Be that as it may, there are a wide range of approaches to lessen auto protection premium whether a driver is high-hazard or generally safe.

Comprehend Auto Coverage Necessity

Collision protection gives money related assurances through scope. There is particular sort of scope for an alternate arrangement of dangers for cases Bodily Injury and Property Damage, Collision, Comprehensive, Personal Injury Protection, and Roadside Assistance. Some of them are obligatory by law, while others are discretionary. Obligatory scope is unavoidable on the grounds that all drivers must have the capacity to create substantial evidence of protection when a cop requests it. Inability to deliver the confirmation is deserving of fines, driver permit suspension, and correctional facility time.

Discretionary scope is omissible from collision protection approach. It is best to comprehend what every scope sort does to settle on the right choice. For instance, an old economical auto that would not be excessively expensive, making it impossible to supplant does not require far reaching protection. After some careful computations, the premium and deductible for the scope can cost more than the estimation of the auto. Conversely, another auto that is worth more than ten times of the premium can simply utilize both Comprehensive and Collision.

Notwithstanding the auto model, please ensure that all scope sorts in the arrangement are important on the grounds that exclusion of pointless scope can spare a considerable measure of cash. An exchange with an autonomous operator can help anybody decides the right protection for their requirements.

Cut the Premium yet Not the Coverage

Not all drivers can manage the cost of the most finish protection arrangement or need the same sorts of scope. A protection approach that comprises of just the state's base scope necessity costs not exactly those with some discretionary assurances in reality, however it doesn't imply that everybody ought to slice the scope to spare cash. One of the least demanding approaches to lessen premium without exclusion of scope is to exploit protection rebates. Accident coverage premium can look extravagant, however diminishment from a few rebates cut great measure of the expense. There are three fundamental sorts of protection rebates: Vehicle Discounts, Driver Discounts, and Policy Discounts.

1. Vehicle Discounts

Premium lessening is accessible for those whose vehicles meet and surpass the necessity for wellbeing principles. Vehicles with hostile to robbery and detached limitation framework are the absolute minimum prerequisites for qualification. Some new vehicles accompany these security highlights as standard alternatives, so there is no compelling reason to buy and introduce post-retail parts. Other security highlights incorporate VIN, electronically monitored slowing mechanisms, and steadiness control. Every one of those increments forestall wounds and mishaps out and about; collision protection organizations acknowledge and reward drivers' endeavors to stay safe. On the off chance that the supplier does not offer the rebates, buyers ought to request this.

2. Driver Discounts

Qualification fortification driver rebates rely on upon the drivers' profiles. It has nothing to do with vehicle security highlights. A few prerequisites for driver rebates are as per the following:

· Completion of Defensive Driving Course: the course instructs drivers to drive safe and maintain a strategic distance from contribution in mishaps all the time paying little heed to the street conditions.

· Safe Driver: after a time of sans ticket or mischance free, some protection suppliers remunerate the drivers with rebates. The period can be unique in relation to supplier to supplier.

· Low Mileage: in the event that the customer permits, a protection transporter can introduce mileage indicator on the vehicle. Drivers with low mileage implies they invest less energy in the street, consequently generally safe of mischances.

· Loyal Customer: a policyholder who stays with the same bearer for a few periods can be qualified for this markdown.

· Good Student: young driver who accomplishes decent evaluations at school or school is qualified for premium decrease also.

At the point when life conditions change, a driver who already was ineligible for rebates can request decreases the length of he/she can indicate legitimate evidence of qualification.

3. Arrangement Discounts

Not at all like driver and vehicle rebates, the qualification for approach rebates relies on upon how a client buys the protection. Basic qualification prerequisites include:

· Full Payment: a few organizations offer numerous installment alternatives. A client who pays the whole cost forthright merits a value lessening.

· Multi-Car: a client who has two or more autos in the same approach is qualified for lower cost, as well.

A few organizations offer a considerable rundown of rebates, while others just have a few fundamental alternatives. Kindly do an online research or counsel a free specialist to get the most out of the protection approach. Rebates turn out to be more imperative when a driver is high-hazard. Much of the time, a high-chance driver must gain protection from non-standard business sector with higher premium than normal. An organization that merits a look in this circumstance is Good to Go Auto Insurance, a non-standard supplier who offers simple endorsement for high-chance driver and a lot of rebates.

Tips to Trust Building on Cross Cultural Teams

Does every one of your workers believe your choice and quality your organization with their head and heart? Shouldn't something be said about representatives working from seaward areas? Assembling enough trust among representatives is basic to the accomplishment of any trying business. Be that as it may, things can get somewhat confounded when you are hoping to make your nearness felt over the globe. What works in the US won't do in India and the other way around. In any case, given the chances of a worldwide business sector, it is important that organizations and brands discover an exit plan.

Building connections gets harder with multifaceted groups as it is anything but difficult to confound aims and get wrong supposition in the absence of virtual signals. The main distinction is the style of correspondence. At a few sections of the world, individuals like to mingle more than others before getting right to business. Time, patterns, political perspectives, way of life and business sector conduct further confound things. Things being what they are, in what manner can pioneers of multinational/multicultural groups try to utilize differences further bolstering their good fortune without neglecting to the difficulties?

Make a win structure for group building

As per the mainstream authoritative conduct researcher, Dr. Richard Hackman, the perfect approach to guarantee culturally diverse group building achievement is by making beginning molding. This would imply that the whole group has a convincing and clear heading to endeavor towards. Associations ought to share over all assets and data crosswise over geologies to fill each representative about the board's plans. Individuals with the perfect specialized aptitudes ought to be utilized more as a part of worldwide smoothness and building social knowledge. It is additionally vital to manufacture a staff that is adaptable, inquisitive, keen and sincerely steady. Web preparing and courses will frame a part of the excursion today.

Understanding multifaceted cosmetics

To end up a powerful pioneer of a multifaceted group, you have to see each "flaw line" made by contrasts in dialect, thinking and culture. A uninitiated group that comprises of Germans, Koreans and Americans would be a tripwire! While Germans would be agreeable in giving and accepting direct negative criticism, it could be a debacle with Koreans. As a pioneer, you ought to be prepared for these strains and understand them quickly.

Aside from social contrasts, it is likewise beneficial if the pioneer additionally comprehends contrasts in identities, age and sexual orientation. You can't anticipate that an Indian representative will quickly adjust to a more drawn out working day in Germany.

Setting clear standards and adhering to them

Culturally diverse groups can be both resources and liabilities as they acquire a wide assortment of working styles. Add individual inclinations to the blend and things can get truly befuddling. It is along these lines important that the group pioneer chalks out clear standards that are required to be trailed by everybody - paying little respect to the individual bowed. So, it will be best to consider what will work best for the whole group as opposed to forcing your very own decisions and work styles. For individuals that think that its hard to hold fast to the standards because of their social bowed, some additional sessions, extra correspondence and suggestive preparing will be the answer. A customary inflow of video chats, video meetings, email upgrades and meeting room examinations will remunerate the separation boundaries between groups.

Take a stab at building an individual association

It needn't bother with exploration to discover that the best apparatus to battle diverse contrasts and clashes is by making an individual bond between colleagues. In any case, distinctive societies have diverse go up against relationship building. Brazilian workers can get to be companions overnight however it will require a considerable measure of investment to pick up the trust of a British group. It is in this manner important to cultivate a compatibility at every stage and each day of working. It is the occupation of the pioneers to discover the chances of correspondence. Maybe a worker is additionally enthusiastic about photography and would love to have his work included in the site. Get-togethers of this sort can help a great deal in drawing in better correspondence and acquainting colleagues crosswise over societies with each other. The advantages circle back straightforwardly to the profitability.

Address clashes without even a moment's pause

Clashes, particularly with regards to multifaceted groups, don't should be closed down and kept in the basement. While contrasts in assessment are unavoidable when you are working with such an enormous gathering, you ought to likewise guarantee that contentions don't develop to a degree that they will be difficult to oversee. The pioneers ought to serve as a social scaffold and be prepared to start a plain gathering exchange and hear out everybody. Toward the day's end, there ought to be no show! In the meantime, regard everybody as equivalent as everybody prizes a law based authority.

In some cases, you should take a long lunch to comprehend somebody and in some cases it is the decision of the desert that opens up a man. The main thing that is regular in a culturally diverse group is the brand name. Workers, crosswise over society, need to feel regarded to be partnered to your image. There is a pragmatic advantage of letting your gatekeeper down some of the time to assemble multifaceted connections, particularly when hoping to benefit as much as possible from a developing business sector. The relationship demonstrations like protection against the work nature of the abroad group. Nobody needs to lose validity and a decent companionship!

Online and in-house preparing and talks can pilot an activity that aides everybody get in agreement. On the off chance that you went by a Burger King outlet in another nation, you would expect the same taste, representative help and work process as it is at home. All things considered, this won't be conceivable until and unless the administration of Burger King takes after the same rules around the world. It however needs inspiration to make things work and bring individuals under the same umbrella. An effective brand is one which has possessed the capacity to achieve a position where it effortlessly influences the advantages of social differences, as opposed to attempting to moderate the difficulties.