“I will be bringing my mother to Japan on our last family trip.”
This was what my friend, who had just graduated (then) and had little to no savings, shared with me when she found out that her mum did not have much time left to live.
Thankfully, the amount claimed under the Dependants’ Protection Scheme (DPS) allowed the family one last holiday together to her mum’s favourite destination.
So what is the DPS?
It’s about time you find out.
TL;DR: DPS Scheme (DPS) Explained — What is DPS?
Disclaimer: The Information provided by Seedly does not constitute an offer or solicitation to buy or sell any insurance product(s). It does not take into account the specific objectives or particular needs of any person. We strongly advise you to seek advice from a licensed insurance professional before purchasing any insurance products and/or services. Information is accurate as of 12 November 2023.
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- What is the Dependants’ Protection Scheme (DPS)?
- CPF Dependent Protection Scheme Coverage
- How Much Is the Premium for the Dependants’ Protection Scheme (DPS)?
- Is the Dependants’ Protection Scheme (DPS) Really the Best in the Market?
- Benefits of the Dependants’ Protection Scheme (DPS)
- How to Opt Out of the DPS
- Am I Currently Insured by the Dependants’ Protection Scheme (DPS)?
- DPS Payout Beneficiary
- Pre-Existing Illnesses and Medical Condition Not Eligible for the Dependants’ Protection Scheme (DPS)
- How To Claim From the Dependants’ Protection Scheme (DPS)?
- GoGreat Term Life: Enhanced Coverage for DPS Policyholders
- What If I Have More Questions About Dependants’ Protection Scheme?
What is the Dependants’ Protection Scheme (DPS)?
The DPS is a term-life insurance scheme administered by Great Eastern Life that covers death, terminal illness and total permanent disability.
No cash is needed to pay premiums, as you can use funds from your Central Provident Fund (CPF) or cash.
In terms of coverage, the maximum sum assured for the DPS is $70,000 for those aged 21 to 59 and up to $55,000 for those aged 60 to 65. Not to mention that the premiums start at as low as $18 per year.
Under the DPS, the sum assured is paid out in the event of:
- Death
- Terminal Illness (an illness that a registered medical practitioner under the Medical Registration Act certifies is expected to result in death within 12 months)
- Total Permanent Disability, where you:
- Lose the ability to take part in any employment permanently or
- Experience the total permanent loss of physical function of both eyes or two limbs or one eye and one limb.
More Coverage at Lower Premiums, But Those Above 55 Have to Pay More
From 1 April 2021, most CPF members under the Dependants’ Protection Scheme will enjoy lower premiums for a higher sum assured of $70,000.
If you’re wondering why $70,000.
That amount is approximately three years’ worth of salary for a lower-income CPF member.
The maximum age of DPS coverage will also be increased to include members aged 60 to 65.
But the sum assured will be adjusted to $55,000 instead.
This is because they are more likely to have accumulated sufficient CPF savings.
Or have other savings to tide them over.
And are more likely to have fewer dependants by that age.
Age
(as of last birthday)Yearly Premiums Before 1 April 2021 Yearly Premiums From 1 April 2021 Sum Assured
34 years and below $36 $18 $70,000
35 to 39 years $48 $30
40 to 44 years $84 $50
45 to 49 years $144 $93
50 to 54 years $228 $188
55 to 59 years $260 $298
60 to 64 years Not applicable $298 $55,000
Note: members aged 55 to 59 will pay an extra $38 annually.
From 1 April 2021, Great Eastern Life has taken over the sole administration of DPS.
Therefore, if you’re insured under Income, you must make a new DPS nomination when your policy is transferred to Great Eastern.
Should you cancel your Dependants’ Protection Scheme (DPS)?
CPF Dependent Protection Scheme Coverage
You will be automatically enrolled under the coverage of the DPS as soon as you make a valid working CPF contribution and are a Singapore Citizen or Singapore Permanent Resident (SPR) between the ages of 21 and 65.
Dependants’ Protection Scheme (DPS) Premium Table
The premium varies according to age, as of your last birthday.
Here’s what the current and future annual premiums for DPS will look like, depending on your age:
Age
(as of last birthday)Yearly Premiums Before 1 April 2021 Yearly Premiums From 1 April 2021 Sum Assured
34 years and below $36 $18 $70,000
35 to 39 years $48 $30
40 to 44 years $84 $50
45 to 49 years $144 $93
50 to 54 years $228 $188
55 to 59 years $260 $298
60 to 64 years Not applicable $298 $55,000
Note: from 1 April 2021, the annual premiums will be adjusted down for most CPF members
Which Account is DPS Deducted From?
As long as there are sufficient funds in your CPF, the premiums will be fully deducted from there.
This means if you don’t have enough funds in your CPF Ordinary Account (OA).
The premiums can be deducted from your CPF Special Account (SA) too.
This means that you don’t have to worry about paying out of your own pocket to be covered.
Also, you’ll get an annual renewal letter about one month before the renewal date to notify you of the upcoming premium deduction.
Is the Dependants’ Protection Scheme (DPS) Really the Best in the Market?
Short answer?
Yes, it is quite cost-effective when you are young.
DPS vs Term Plan
Here’s how it compares to a similar term plan:
| Age (As of last birthday) |
DPS Yearly Premiums | DPS Sum Assured | Income DIRECT Star Term Yearly Premiums |
Income DIRECT Star Term Sum Assured |
| 20 | $18 |
$70,000
|
$64.60 |
$100,000
|
| 30 | $18 | $66.90 | ||
| 35 | $30 | $77.30 | ||
| 40 | $50 | $94.60 | ||
| 45 | $93 | $145.40 | ||
| 50 | $188 | $223.85 | ||
| 55 | $298 | $369.20 | ||
| 60 | $298 | $55,000 | $634.60 |
From ages 20 – 34, you are getting $3,888 of coverage per dollar from the DPS and only about $1,492 of coverage per dollar with the Income term plan.
But when you turn 50, you actually get more coverage from the Income term plan as you get $447.72 per dollar from Income and $372 of coverage per dollar with the DPS.
When you turn 60, the gap narrows a little but you are still getting $157.58 of coverage per dollar from Income and $184.56 per dollar with the DPS.
Also, you have to be aware that this policy does not have the following:
- Accrued cash payout or cash value over time
- Non-guaranteed bonuses
- Limited coverage till age 65, which is reduced as you get older.
Benefits of the Dependants’ Protection Scheme (DPS)
Cost-aside, the DPS has a few benefits.
The DPS:
- provides family members with a sum of money in case of unforeseen circumstances
- can be paid for using your CPF funds, which otherwise would have been illiquid anyway (Might as well, right?)
- Premiums are cheaper than most insurance policies when you are 40 years old and below; this is useful because that’s the phase in most Singaporeans’ lives where income is slowly building up, and most of us have a lot of financial commitments.
Is DPS Compulsory? How Do You Opt Out of the DPS?
Although you are automatically enrolled into the DPS, it is not compulsory.
You can terminate your DPS coverage at any point by contacting Great Eastern Life. But before making this decision, consider the financial security that the DPS provides for your family. If you choose to re-enrol in DPS later, you must submit a health declaration, and coverage will be granted based on your good health.
Am I Currently Insured by the Dependants’ Protection Scheme (DPS)?
To check if you are currently under DPS’s coverage:
- Head over to the CPF website
- Sign in using your SingPass QR or SingPass ID and Password
- Click on “my cpf” tab at the top and select the ‘providing for your loved ones’ dashboard
- Select “Term life insurance“
- Under Insurance, you should be able to see information about your Dependants’ Protection Scheme (DPS) coverage and your insurer. DPS coverage is covered by Great Eastern Life:
DPS Payout Beneficiary
An important point to note is that the DPS benefits will NOT be distributed based on your CPF nomination. Instead, according to CPF:
For claims under medical grounds, the Dependants’ Protection Scheme (DPS) benefits will be paid out to the insured member directly.
For death claims, if the insured member has made a DPS nomination or has a will which is made known to the DPS insurer, the beneficiary(s), according to the nomination or will (whichever takes effect at the later date), will receive the benefits.
If no nomination or will is made, the benefits will be paid to the proper claimant(s). A proper claimant can be the executor of the deceased’s estate or family member, e.g. spouse, parent, child, or sibling.
How to Nominate DPS Beneficiary
According to Great Eastern, here’s how you can nominate your DPS beneficiary:
If you are at least 18 years old and wish to have the death claim benefits paid to a specific person/organisation i.e. beneficiary(ies), you can make a revocable nomination by completing the DPS nomination form and submitting the completed form to us. You can also cancel the nomination by making a new nomination and it will take effect from the date a valid form is submitted. To obtain the DPS Nomination form, you may:
- Click here to download Form 4 Revocable Nomination
- E-mail Great Eastern at [email protected]
- Contact our customer service officers at +65 6839 4565 to request for the form to be sent via post
Kindly complete the form and return it to us at:
1 Pickering Street
#13-01 Great Eastern Centre
Singapore 048659An acknowledgement letter will be sent after Great Eastern have processed your request.
Pre-Existing Illnesses and Medical Condition Not Eligible for the Dependants’ Protection Scheme (DPS)
Like any other insurance policy, it is necessary to declare any pre-existing medical conditions using the respective Health Declaration Form from Great Eastern Life.
Note: from 1 April 2021, Great Eastern Life will take over sole administration of the DPS. According to CPF ‘members who are already insured under Dependants’ Protection Scheme (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.
For reference, here’s a list of illnesses where you may not be eligible for a DPS cover:
- Ischaemic heart disease/Coronary heart disease, heart valve disorders or arrhythmia (irregular heartbeats)
- Cancer
- Stroke/Cerebrovascular disorders, tumour of the brain, or Arteriovenous Malformation
- Renal failure or renal dialysis
- Diabetes with complications
- Chronic liver disorders, liver cirrhosis, hepatic encephalopathy or liver failure
- AIDS/HIV infection
- Dementia/Alzheimer’s disease
- Severe psychiatric or mental illness
- Motor neuron disease
- Muscular dystrophy
- Paralysis (Hemiplegia/Paraplegia/Quadriplegia)
- Chronic lung disease
- Rheumatoid arthritis with complications
- Multiple sclerosis
- Systemic lupus erythematosus with complications
- Parkinson disease with complications
- Pulmonary hypertension
- Aplastic anaemia, Thalassaemia major or severe blood disorders
- Any illness which is likely to lead to a limb/spinal/eye/mental condition
- Any other illness, excluding those mentioned above, which is certified by a medical practitioner registered under the Medical Registration Act to be a serious illness.
How To Claim From the Dependants’ Protection Scheme (DPS)?
To claim your benefit under the Dependants’ Protection Scheme.
Just submit an application to Greate Eastern Life.
You’ll need to prepare a few things before submitting a DPS claim.
To Claim DPS for Death
- Death Claim Form (to be completed by nominee/claimant)
- FATCA and CRS self-certification form for an individual account (Not required if the death claim is filed only for the Dependants’ Protection Scheme (DPS), Special Schemes or Group Insurance policies)
- Certified True Copy of Death Certificate (for overseas death, the original Death Certificate must be certified by your lawyer or any Notary Public)
- Letter from Immigration and Checkpoint Authority (ICA) – this letter is issued by ICA for Singaporeans or Permanent Residents (PR) who died overseas. It confirms receipt of the Singapore IC, Passport and overseas Death Certificate.
- Repatriation Report (if the body was repatriated to Singapore for cremation/burial)
- Cremation/burial permit (if cremation or burial occurred overseas)
- NRIC or relevant identification documents (e.g. passports, birth certificates) of the claimant(s)
- Proof of claimant’s relationship with deceased (please refer to the next page for supporting documents for proof of relationship)
- Newspaper Clipping and Police Report (if death was due to accidental or violent causes)
- Last Will of deceased (if deceased had left a Last Will)
- Latest pay slip of the deceased (for group policies)
- Dependant Booster Benefit Claim Form (for Family Protect policy only), to be completed by the nominee/claimant
To Claim DPS for Terminal Illness / Total Permanent Disability
- Medical/Accident/Living/Total and Permanent Disability Claim Form (to be completed by the claimant)
- NRIC or relevant identification documents (e.g. passport, birth certificate) of the claimant
- Attending Medical Practitioner’s Statement (AMPS) (to be completed by attending doctor & submitted to us)
- Medical reports/Laboratory reports/Hospital Discharge Summary
- Medically boarded out letter (where applicable)
- Newspaper clipping and Police/Accident Report (if Total & Permanent Disability or Permanent Incapacity was due to accidental or violent causes)
- The termination letter from the last employer OR CPF Statement showing last employment contribution (for DPS policy only)
- CPF Contribution Statement for the past 15 months (for DPS policy only)
- Latest pay slip of insured (for group policies)
- Dependant Booster Benefit Claim Form (for Family Protect policy only), to be completed by the claimant
Next, you’ll also have to fill out the DPS claim form.
For Great Eastern Life:
After which, submit all claims documents through a Great Eastern Life distribution representative or by post to:
The Great Eastern Life Assurance Company Limited
1 Pickering Street
Great Eastern Centre #13-01
Singapore 048659
To prevent any possible delays in claim payouts, ensure your personal details, such as nomination, health declarations and claims, remain updated. This can be done easily with the Great Eastern app.
GoGreat Term Life: Enhanced Coverage for DPS Policyholders
So here’s the thing. $70,000 is not a whole lot of money when it comes to insurance as, according to the latest study from the Life Insurance Association (LIA) of Singapore, there is a critical illness gap:
findings of the Protection Gap Study (PGS) 2022 which found that economically active (EA) Singaporeans and Permanent Residents in Singapore – including Platform Workers (PWs) – had a $373 billion mortality protection gap and a $579 billion critical illness (CI) protection gap . This equates to a 21 per cent mortality protection gap and a 74 per cent CI protection gap in Singapore in 2022.
For context, the LIA recommends having CI coverage of about 3.9 times your annual salary to factor in the average person’s recovery time from a critical illness.
If you do not have enough term life insurance coverage, you might want to consider a top up your DPS with GoGreat Term Life:
This term insurance policy has the following benefits:
- Protects you with coverage against Death, Terminal Illness and Total Permanent Disability till age 65
- No medical check-up is required. Simply purchase this plan online by answering a few health-related questions
- Coverage of up to $300,000.
GoGreat Term Life Premiums (Yearly)
When your GoGreat Term Life policy is renewed annually, your premiums, which can only be paid with cash, will be determined based on your current age, as indicated in the premium table. There may be adjustments to the premiums according to future experience.
| Your Age | Sum Assured | |
| $100,000 | $300,000 | |
| 34 and below | $25.75 | $77.15 |
| 35 – 39 | $42.85 | $128.60 |
| 40 – 44 | $71.45 | $214.30 |
| 45 – 49 | $132.85 | $398.60 |
| 50 – 54 | $268.60 | $805.75 |
| 55 – 59 | $425.75 | $1,277.15 |
| 60 and above | $541.85 | $1,625.45 |
Do note that premium rates for GoGreat Term Life are the same as DPS. Premiums can be paid with cash via GIRO, credit card or direct bank transfer with a QR code for initial payment.
What If I Have More Questions About Dependants’ Protection Scheme?
Still unclear about the Dependants’ Protection Scheme?
Want to know what alternatives are out there?
Why not ask and discuss it with the friendly community at Seedly!
You can tap on the collective wisdom of the community and even share stuff like claim experience with others who might need your help!
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