Thinking about how to protect your family’s future?
If you’re a CPF member in Singapore, you’ve probably come across the Dependants’ Protection Scheme (DPS). It’s one of the most affordable ways to make sure your loved ones receive financial support if something unexpected happens to you.
But what exactly does it cover? And is it really worth keeping?
Let’s break it down in simple terms.
What is the Dependants’ Protection Scheme?
The Dependants’ Protection Scheme is a basic term-life insurance plan available to CPF members in Singapore.
It provides a lump-sum payout if you:
- Pass away
- Are diagnosed with a terminal illness (life expectancy of 12 months or less)
- Become totally and permanently disabled (TPD)
In short, DPS acts as a financial safety net for your family when they need it most.
It’s designed to help cover essential expenses, such as:
- Daily household costs
- Mortgage or rent payments
- Education fees
- Short-term living expenses
Who is eligible for DPS?
You’re automatically covered under DPS if you are:
- A Singapore Citizen or Permanent Resident, and
- Between 21 and 65 years old, and
- Have made your first CPF contribution
If you’re not automatically covered, you can apply manually through Great Eastern Life, which currently administers the scheme.
How much are DPS premiums?
DPS premiums are age-based and deducted automatically from your CPF savings, which makes things simple and hassle-free.
Here’s what you can expect to pay each year:
| Age group (years) | Annual premium (SGD) | Coverage amount (SGD) |
| Below 35 | 18 | 70,000 |
| 35 – 39 | 30 | |
| 40 – 44 | 50 | |
| 45 – 49 | 93 | |
| 50 – 54 | 188 | |
| 55 – 59 | 298 | |
| 60 – 64 | 298 | 55,000 |
People like the Dependants’ Protection Scheme because it offers very affordable premiums, making it easy for anyone to maintain basic life insurance coverage.
It also doesn’t require a medical check-up, which simplifies the enrolment process for all CPF members. In addition, the premiums are deducted directly from your CPF savings, ensuring that payments are made automatically and on time without any extra effort.
For example, imagine a 30-year-old CPF member named Sarah who enrols in DPS. At her age, she pays an annual premium of S$18 for S$70,000 coverage.
As Sarah ages, her premiums will increase gradually to reflect the higher risk of insuring older members. For instance, when she turns 35, her premium will rise to S$30 per year.
By the time she reaches 45, her premium will increase to S$93 annually, and when she turns 55, it will peak at S$298 per year.
Despite these increases, DPS remains a cost-effective option for maintaining basic life coverage.
How DPS differs from private term life insurance
| Feature | DPS | Private term life insurance* |
| Coverage amount | Fixed at up to S$70,000 (reduces to S$55,000 from age 60 to 65). | Customisable, choose coverage that suits your income or family needs (often much higher than DPS). |
| Premiums | Very low, age-based, and deducted automatically from CPF savings. | Varies by age, health, and coverage, higher than DPS but offers greater protection. |
| Flexibility | Basic plan only, no riders or add-ons. | Highly flexible, add riders for critical illness, disability, or premium waivers. |
| Coverage period | Ends at age 65 | Can extend from age 70 to 100, depending on the insurer. |
*You can learn more about how private term life insurance works and what plans are available in Singapore.
Read more: Best of Term Life Insurance Policies
How to enrol in DPS
You don’t need to do anything if you’re automatically enrolled through CPF. If not, you can:
- Visit the Great Eastern Life DPS page.
- Submit a DPS application form and health declaration.
- Receive confirmation of coverage.
How to make a claim
If you or your dependants need to file a claim:
- Contact Great Eastern Life directly.
- Prepare relevant documents, such as:
- Death certificate
- Medical reports
- Proof of TPD
- Submit documents for review.
- Once approved, the payout goes directly to the nominated beneficiary or estate.
Read more: How To Make a Nomination for Your Life Insurance in Singapore
Pros
The DPS has several advantages that make it an appealing choice for many CPF members.
1. Affordable premiums
DPS offers basic coverage at a low cost, with annual premiums starting at S$18 for younger members (under 35) and rising to S$298 for those aged 55-64.
2. Easy enrolment
DPS is automatically extended to CPF members aged 21-65 upon their first CPF contribution. No medical underwriting is needed for enrolment, which allows individuals, including those with pre-existing conditions, to access coverage easily.
3. Peace of mind
DPS provides peace of mind for individuals with dependants with financial protection in the event of death, terminal illness, or TPD.
Cons
1. Age limit
DPS coverage ends at age 65, which can be a disadvantage for those who need insurance coverage later in life. Individuals approaching retirement may need to seek additional coverage beyond DPS to maintain financial protection for their families.
2. Basic features
It lacks features like riders, cash value, and customisable coverage amounts often found in private insurance policies.
3. Limited coverage amount
The maximum coverage amount under DPS is S$70,000, which reduces to S$55,000 between ages 60 and 65. While this amount can provide immediate financial relief, it may not be sufficient for long-term needs, such as paying off a mortgage or funding children’s education.
Is the DPS worth it?
The DPS is worth considering if you are looking for a basic, low-cost insurance option, especially when starting your financial journey.
It benefits those starting their careers, newly married individuals, or those with young children who may not have extensive financial resources or other insurance plans in place.
While the DPS provides a good entry-level option, it is important to evaluate whether the coverage is sufficient for your needs. Therefore, while the DPS can be a helpful starting point, it should not be relied upon as the sole source of financial protection.
Individuals should consider additional coverage options, such as private term life insurance, to better meet their financial planning goals and provide comprehensive security for their dependants.
Read more: Life Insurance in Singapore: Whole Life, Term, and Which You Should Get
