cpf.gov.sg Dependants’ Protection Scheme Singapore : Central Provident Fund Board
Organization : Central Provident Fund Board
Facility : Dependants’ Protection Scheme
Country : Singapore
Website : https://www.cpf.gov.sg/Employers
Details Here : https://www.cpf.gov.sg/member
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CPF Dependants’ Protection Scheme
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.
Related : CPF Contribution for Employees Singapore : www.statusin.org/40466.html
Understand
Who will be covered under DPS?
You will be automatically included under DPS if you
** are a Singapore Citizen or Permanent Resident;
** are between 21 and 60 years old; and
** have made your first CPF working contribution.
You will receive a welcome package from your assigned insurer after your first CPF working contribution is credited. The welcome package will guide you to complete the necessary DPS forms.
What are some benefits of DPS?
As an insured member, you enjoy
** financial protection at affordable DPS premiums; and
** convenience of using your CPF Ordinary Account (OA) and/or Special Account (SA) savings to pay the DPS premium.
Evaluate
When can a DPS claim be made?
A DPS claim can be made when the insured member
** is certified by a doctor as suffering from terminal illness or total permanent disability; or
** passes away.
The DPS benefit will not be payable if any of the following events occur within the first policy year :
(a) you committed self-inflicted injury or suicide;
(b) you committed a criminal offence punishable by death; or
(c) claim arose out of your own intentional criminal act.
DPS benefits are also not payable if :
(d) you suffer from serious illness, Terminal Illness or Total Permanent Disability before the commencement of the cover;
(e) you have provided false or misleading information; or
(f) your claim arose from wars or any warlike operations or participation in any riot.
How can I make a DPS nomination?
You can contact your DPS insurer for more information. Please note that your CPF nomination does not apply to the distribution of DPS claim benefit.
Apply
How do I apply to be insured under DPS?
If you are eligible for DPS, you can contact your preferred insurer (i.e. Great Eastern Life or NTUC Income).
Frequently Asked Questions
Pay My DPS Premium
1. What if I do not have enough savings in my CPF Accounts to pay the premium for Dependants’ Protection Scheme?
If you do not have sufficient funds in both CPF Ordinary and Special Accounts to pay for the yearly premium upon policy renewal, your Dependants’ Protection Scheme (DPS) insurer will notify you via post.
Upon receiving the top up notice, you can make the payment by cash or cheque to your DPS insurer directly. For more information on the DPS top up procedures, please contact your DPS insurer directly.
2. Can I use my Medisave Account to pay my Dependants’ Protection Scheme premium?
Premiums can only be paid from your savings in the CPF Ordinary Account and/or Special Account.
3. Can I use money from my family member’s CPF Account to pay my own Dependants’ Protection Scheme premium?
Premiums can only be paid from your own savings in the CPF Ordinary Account and/or Special Account. If you do not have enough CPF savings to pay the premium, you have to pay the shortfall in cash to your insurer.
Claim DPS Benefits
1. What is the Dependants’ Protection Scheme claim criteria?
A Dependants’ Protection Scheme claim can be made when a member passes away or suffers from terminal illness or total permanent disability.
i. Terminal illness refers to an illness that is likely to result in the death of the member within 12 months
ii. Total permanent disability refers to (i) the inability to take part in any employment permanently, or (ii) the total permanent loss of physical function of any of the following :
** Both eyes, or
** Two limbs, or
** One eye and one limb
A claim under (a) or (b)(ii) can be made only if the terminal illness or total permanent loss of physical function started on or after 1 May 2016.
2. How do I claim the Dependants’ Protection Scheme benefits?
A member can make a claim by submitting an application to his Dependants’ Protection Scheme insurer, Great Eastern Life or NTUC Income directly.