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Dependants’ Protection Scheme (DPS): All You Need to Know About DPS in 5 Minutes

5 min read

“She will be bringing her mother to Japan on their last family trip.”

This was a true incident. A friend of mine who has just graduated and had little savings then found out that her mum had limited time left.

The amount claimed from the Dependants’ Protection Scheme (DPS) allowed the family one last holiday together to their mum’s favourite destination.

TL; DR – Dependants’ Protection Scheme (DPS) in short

Dependants’ Protection Scheme (DPS)

Your ultimate guide on Dependants’ Protection Scheme (DPS):


What Is Dependants’ Protection Scheme (DPS)?

Dependants’ Protection Scheme is a term-life insurance scheme that provides insured members and their family a basic coverage of up to S$46,000, in the event that the insured members suffer from a Terminal Illness, Total Permanent Disability or pass away. This coverage is worldwide.

Under 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 one:
    Loses the ability to take part in any employment permanently or
    experience the total permanent loss of physical function of both eyes/ two limbs/ one eye and one limb

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Who will be automatically covered under the Dependants’ Protection Scheme (DPS)?

One will be automatically included under the coverage of Dependants’ Protection Scheme (DPS) as long as he is

  • between the age of 21 and 60 years old
  • a Singapore Citizen or Permanent Resident (PR)
  • made his first working contribution to the Central Provident Fund (CPF)

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How Much Is The Premium For Dependendants’ Protection Scheme (DPS)?

The premium varies according to age, as of last birthday.

This is the annual premium for DPS, depending on your age:

Age
(According to last birthday)
Yearly Premium
34 years old and belowS$36
35 - 39 years oldS$48
40 - 44 years oldS$84
45 - 49 years oldS$144
50 - 54 years oldS$228
55 - 59 years oldS$260

As long as there is sufficient fund in his CPF accounts, the premiums will be fully deducted from there. Should one does not have enough fund in his CPF Ordinary Account (OA), premiums can be deducted from his CPF Special Account (SA) too.

This means that one does not need to pay out of his pocket to be covered.

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Is the Dependants’ Protection Scheme (DPS) really the best in the market? – NO, when it comes to cost!

While DPS looks really affordable, a quick comparison by Straits Times provides a better insight.

Here are the total premiums payable as compared to NTUC Income’s iTerm:

AgeNumber of years till age 60DPS PremiumiTerm Premium
(for Female)
iTerm Premium
(for Male in S$)
2535 YearsS$4,180S$1,716.75S$2,268
3525 YearsS$3,820S$1,897.75S$2,306.25
4515 YearsS$3,160S$1,698.75S$2,294.25
555 YearsS$1,300S$773.50S$1,080

source: PROVIDEND

The figures above are as of 15 June 2017.

  • If one keeps his DPS throughout his working years from age 25 to 60, the total premiums turn out to be S$4,180.
  • This is due to DPS premiums increasing significantly from age 45 onwards as shown above.
  • Hence, it is possible to get a cheaper alternative in the market.

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Benefits of Dependants’ Protection Scheme (DPS)

As seen above, one can actually source for a cheaper term insurance from other insurance providers.

Taking costs out of the equation, there are actually a few benefits to DPS that can help Singaporeans decide better.

The benefits of DPS are that:

  • Provides family members with some money in case of unforeseen circumstances.
  • You can pay for it using your CPF monies, which otherwise would have been illiquid anyway. (Might as well right?)
  • The premiums are cheaper than most competitors at for age 40 and below. This helps especially when below 40 years old is the phase where our income is low with a whole lot of financial commitments.

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Am I currently insured by Dependants’ Protection Scheme (DPS)?

To check if one is currently under DPS’s coverage, here are the steps.

1. Head over to the CPF website.

2. From there, sign in using your SingPass ID and Password. Your SingPass ID should be your NRIC.

3. Head over to “my cpf” tab at the top.

Dependants protection scheme how to find out if covered

4. From there, select “My Messages

5. Under Insurance, one should be able to see information about his Dependants’ Protection Scheme (DPS) coverage and his insurer. Singaporeans are split between Great Eastern Life or NTUC Income for their DPS coverage.

Dependants Protection Scheme DPS) coverage

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Pre-existing illnesses and medical condition not eligible for Dependents’ Protection Scheme (DPS)

Very much like any other insurance policies, it is important to know what are the pre-existing medical conditions that can affect one’s eligibility for DPS.

If one is suffering from the list of illness below, he may not be eligible for DPS coverage. It is a must to declare and have transparency with regards to your medical condition using the respective Health Declaration Form from either Great Eastern or NTUC Income.

List of serious illnesses for Great Eastern and NTUC Income for DPS:

  • Ischaemic heart disease/Coronary heart disease, heart valves 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.

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How to claim Dependents’ Protection Scheme (DPS)?

Claiming of Dependents’ Protection Scheme can be done so by submitting an application to the respective insurers (namely Great Eastern Life or NTUC Income) directly.

Firstly, here are the checklists of documents required to be submitted when making a DPS claim:

To claim 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 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 deceased (for group policies)
  • Dependant Booster Benefit Claim Form (for Family Protect policy only), to be completed by nominee/claimant

To claim 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, fill up the claim form:

For NTUC Income:

After which, submit all claim documents at any of the NTUC Income branches/ through an insurance adviser/ by post to:

Claims Service Centre
NTUC Income Insurance Co-operative Limited
75 Bras Basah Road
INCOME Centre
Singapore 189557

For Great Eastern:

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

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