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Dependants' Protection SchemeDependants' Protection Scheme<p> </p>The Dependants’ Protection Scheme (DPS) is a term insurance that provides insured members and their families with some money to get through the first few years should the insured members pass away, suffer from Terminal Illness or Total Permanent Disability.​TrueTrueTrueResources;#Forms;#Others;#

 

 

UnderstandWhat is the Dependants’ Protection Scheme (DPS)?<p>DPS is a term-life insurance scheme which provides insured members and/or their families with some money to get through the first few years should the insured members meet an untimely death or suffer from terminal illness or total permanent disability.</p><p>DPS covers insured members up to 65 years old. Members up to 60 years old will be covered for a maximum sum assured of $70,000. For members above age 60 and up to age 65, DPS covers them up to a maximum sum assured of $55,000.</p><p>DPS is currently solely administered by <a href="http://gogreat.sg/dps" target="_blank">Great Eastern Life.</a></p>Dependants' Protection Scheme15571557
UnderstandWho will be covered under DPS?<p>All Singaporeans and Permanent Residents between age 16 and 65 can be covered under DPS.</p><p>DPS coverage is automatically extended to Singapore Citizens or Permanent Residents upon their first CPF working contribution between 21 and 65 years old.</p><p>Members aged 16 and above who were not extended a DPS cover automatically but wish to be insured can apply to Great Eastern Life directly to join DPS.</p>Dependants' Protection Scheme15581558
UnderstandIs DPS compulsory?<p>Coverage under DPS is not compulsory. Insured members who wish to terminate their DPS cover can contact Great Eastern Life to do so by completing the opt out form.</p><p>Member should consider the benefits of DPS carefully before he/she terminates his/her DPS cover. Continuing with the DPS cover will provide some financial protection for the member and/or their families. If member decides to rejoin DPS in the future, he/she will need to submit a health declaration again and the cover will be provided subject to him/her being in good health then.</p>Dependants' Protection Scheme28741787
EvaluateI do not have a Dependants’ Protection Scheme (DPS) cover. Do I need to declare my health to be insured under DPS?<p>Yes, the eligibility for a DPS cover is subject to you being in good health when your policy commences.</p><p>As with any life insurance, DPS cover may be deferred or declined if a member has any serious pre-existing illnesses before policy commencement. This is to ensure that the scheme remains viable and the premiums are kept affordable for all insured members.​​​</p>Dependants' Protection Scheme15501550
UnderstandWhat is the purpose of DPS?<p>CPF members who are working and earning an income may have dependants who are reliant on their income. If such CPF members suddenly meet with an accident or contract a terminal illness that results in the loss of their income, the dependants who are reliant on them may be left in the lurch. The impact is greater when the member has not yet accumulated enough CPF or other savings which could be bequeathed to their dependants to tide them over the first few years of their untimely demise. Therefore, DPS is useful to such working CPF members. This is also the reason why DPS coverage is automatically extended to members upon a valid CPF contribution between age 21 and 65.</p>Dependants' Protection Scheme15601560
EvaluateMy DPS is covered by NTUC Income prior to 1 April 2021. When my DPS cover is transferred over to Great Eastern Life from 1 April 2021, do I need to declare my health?<p>No, members who are already insured under DPS prior to 1 April 2021 do not need to submit a new health declaration form for illnesses that developed on or after the commencement of their DPS covers under NTUC Income. Great Eastern Life is required to take over all obligations of DPS covers issued under NTUC Income. This means that Great Eastern Life will continue to cover any medical conditions that had developed on or after the commencement of members’ DPS covers under NTUC Income.</p>Dependants' Protection Scheme15531553
EvaluateDo all CPF members need DPS?<p>Members should consider whether they have dependants who are reliant on their current income when assessing if they need a DPS cover. For example, members who may not need DPS include:<br> </p><ul><li> Those whose dependants have already grown up and become financially independent, e.g. children who reach adulthood and started working.</li><li> Those who have already built up enough CPF or private savings, as such savings could be bequeathed to their dependants directly, to tide them over the first few years of expenses in the event of an untimely death.</li><li> Those who already have their own private term or life insurance, which provides enough insurance protection and payout to tide dependants over the first few years of expenses in the event of an untimely death.</li></ul><p>Insurance premiums, including for DPS, become more expensive with age. Should members decide that they wish to opt out of DPS, they may do so by informing Great Eastern Life to terminate their DPS cover any time by completing the opt out form. Opting out of DPS will allow such members who may not need DPS to retain more of their CPF savings for their retirement income.</p>Dependants' Protection Scheme15751575
EvaluateWhen can a DPS claim be made?<p>A DPS claim can be made when a member passes away or is certified to be suffering from terminal illness or total permanent disability.</p><p>For more information on DPS claim criteria, please refer to Great Eastern Life.</p>Dependants' Protection Scheme15611561
EvaluateHow can I file a DPS claim?<p>A member can make a claim by directly submitting an application to the Dependants' Protection Scheme insurer Great Eastern Life.</p><p><strong>Note:</strong> For members previously insured under NTUC Income, if the claim event date is before 1 April 2021, they can submit their claim application to NTUC Income directly.</p>Dependants' Protection Scheme15621562
EvaluateI have not made a nomination before. How do I make a nomination for my DPS cover?<p>If you are at least 18 years old and wish to have the death claim benefits paid to specific person/organization i.e. beneficiary(s), you are advised to make a nomination by submitting the DPS nomination form (available on Great Eastern Life’s website) to the insurer. Should you wish to amend your nomination thereafter, you can do so by submitting a new nomination.</p>Dependants' Protection Scheme15661566
EvaluateI have already made a nomination for DPS prior to 1 April 2021. Do I need to make a new nomination after 1 April 2021?<p>From 1 April 2021, DPS will be solely administered by Great Eastern Life.</p><p>If your DPS policy was under NTUC Income, it would have been automatically transferred to Great Eastern Life. As DPS policies with NTUC Income would cease after 31 March 2021, nominations of existing DPS policies made under NTUC Income will no longer be valid. As such, if you had previously made a nomination under NTUC Income, under the Insurance Act, you will be required to make a new nomination. Your new insurer, Great Eastern Life, will send out the nomination forms to you.</p><p>If your DPS policy is under Great Eastern Life and you had made a nomination previously, there is no need for you to submit a new nomination, unless you wish to nominate new beneficiaries.</p><p>Please note that DPS claim benefits do not form part of CPF savings and will not be distributed based on your CPF Nomination.</p>Dependants' Protection Scheme15591559
DecideHow can I check if I am covered under Dependants’ Protection Scheme (DPS)?<p>You can check the status of your coverage and your insurer at <em>my cpf</em> Online Services > My Messages. You may also check the details in your CPF Yearly Statement of Account.</p>Dependants' Protection Scheme15631563
DecideHow much premium do I need to pay to be covered under DPS?<p>The premium payable yearly will be based on the age you have reached, at the point of payment.</p><table width="100%" class="ms-rteTable-default" cellspacing="0" style="text-align:center;"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" bgcolor="#d2d2d2" style="width:33.33%;">​<strong>Age (as of payment date)</strong></td><td class="ms-rteTableEvenCol-default" bgcolor="#d2d2d2" style="width:33.33%;"> <strong>​Yearly Premium for $70,000 sum assured^</strong><br></td></tr><tr class="ms-rteTableOddRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​34 years and below</td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​$18<br></td></tr><tr class="ms-rteTableEvenRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​35 – 39 years</td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​$30<br></td></tr><tr class="ms-rteTableOddRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​40 – 44 years</td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​$50<br></td></tr><tr class="ms-rteTableEvenRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​45 – 49 years<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">$93​</td></tr><tr class="ms-rteTableOddRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​50 – 54 years</td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​$188<br></td></tr><tr class="ms-rteTableEvenRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​55 – 59 years</td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​$298<br></td></tr><tr class="ms-rteTableOddRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​60 – 64 years</td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.33%;">​$298 (for sum assured of $55,000)<br></td></tr></tbody></table> <br> <p> <span style="font-size:0.9em;">^ Premiums are payable on member’s DPS policy commencement date and on subsequent yearly policy renewal dates.</span></p>Dependants' Protection Scheme15701570
DecideHow can I pay my DPS premium?<p>DPS premiums can be paid using your CPF savings or cash.</p><p>If you are using your CPF savings for the premium, the premium will first be deducted from your Ordinary Account (OA). If you do not have sufficient savings in your OA, the premiums will be deducted from your Special Account (SA). If you do not have sufficient CPF funds to pay for the DPS premiums, you can make a top up in cash.</p><p>For more information on the premium payment methods, please contact Great Eastern Life.</p>Dependants' Protection Scheme15681568
ApplyHow do I apply to be insured under Dependants’ Protection Scheme (DPS)?<p>If you are eligible for DPS and you wish to apply for a DPS cover, you may contact <a href="http://gogreat.sg/dps" target="_blank">Great Eastern Life</a> directly.</p> <br>Dependants' Protection Scheme15741574

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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