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CPF Insurance - Dependants' Protection Scheme (DPS)

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What is Dependants' Protection Scheme (DPS)?

The Dependants’ Protection Scheme (DPS) is an affordable term insurance scheme that provides insured members and their families with some money to get through the first few years should the insured members become permanently incapacitated or pass away.

Currently, DPS is administered by two insurers, Great Eastern Life and NTUC Income. The scheme is extended to CPF members who are Singapore citizens or Permanent Residents, between age 16 and 60, when they make their first CPF contribution.

DPS is an optional term insurance which covers CPF members for a maximum sum assured of $46,000 up to age 60. The coverage is worldwide. The DPS benefit will be paid out if the insured member passes away or becomes permanently incapacitated such that he or she can no longer work.

How much do I need to pay to be covered under Dependants' Protection Scheme (DPS)? How do I pay my premiums?

The premium payable depends on your age at your last birthday. Premiums can be paid from your CPF Ordinary and/or Special Account(s). The yearly premiums for a full sum assured of $46,000, based on age and regardless of gender, are as follows:

Age
(Last Birthday)

Yearly
Premium

34 years and below

$  36

35-39 years

$  48

40-44 years

$  84

45-49 years

$144

50-54 years

$228

55-59 years

$260

The coverage will continue as long as there is sufficient money in your CPF Ordinary and/or Special Account(s) for the deduction of the yearly premium. If you do not have sufficient CPF money to pay the yearly premium, you may pay cash to your insurer.

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Last Updated on Friday, 12 August 2011 18:24

 

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