The Dependants’ Protection Scheme (DPS) is a term-life insurance that provides financial support to insured members and their families during the initial years following the member’s death, terminal illness diagnosis or total permanent disability.
The scheme offers coverage of $70,000 until the end of the policy year in which members turn 60 years old. From the policy anniversary when they reach age 60 until the end of the policy year in which they turn 65, the sum assured reduces to $55,000.
CPF members who are Singapore Citizens or Permanent Residents aged between 21 and 65 are automatically extended a DPS cover upon a valid CPF working contribution, subject to good health.
Individuals below 21 years of age, but 16 or older, may apply for DPS coverage.
The scheme is optional and insured members may choose to terminate their coverage by submitting an opt-out form to the appointed insurer. CPF members who have previously opted out must apply for a new coverage if they wish to re-join the scheme.
