Your Dependants' Protection Scheme (DPS) coverage will be terminated on the date of Singapore Citizenship/Permanent Residency renunciation, as the scheme is only applicable to Singapore Citizens and Permanent Residents.
Your DPS insurer will refund any unused DPS premiums for the current policy year to your CPF account. The refund amount is calculated on a pro-rated basis. This means that you will receive a refund for the remaining months of coverage in your current policy year after your DPS termination date. For example, if your policy year runs from January to December and your DPS is terminated in June, you would receive a refund for the unused premium covering July to December.
The unused DPS premiums will be paid to you together with your CPF savings when you transfer your CPF savings to your bank account.
If you wish to find out more about your specific refund amount or have questions about the calculation, please contact your DPS insurer, Great Eastern Life at
greateasternlife.com > Contact us.
