DPS - FAQ - Policy Servicing

Premium Payment

1. How do I renew the DPS cover?
Renewal is done automatically every year, unless any of the following events occur:

  1. At the end of the policy year during which you attain age 60;
  2. Upon death or permanent incapacity;
  3. Upon renunciation of your Singapore Citizenship or Permanent Resident status
  4. Any non-payment of premiums within the stipulated 60 days grace period;
  5. If you opt out of the DPS; or
  6. If you have instructed the insurer not to renew or to cancel your cover whichever is the earliest event.

2. Will I be informed when my cover is renewed?
If premiums is paid via your CPF Ordinary and/or Special Account, you will be informed through your yearly CPF Statement of Account. Your Statement will show the premium paid using your CPF savings. Renewal notices will also be sent to you 4 weeks before the deduction annually.

If the deduction is successful, you may check your DPS policy status online via CPF website> My Messages> Insurance.

If the deduction is unsuccessful or partial, you will also be informed by post.

If premium is paid via cash, you may check your DPS policy status online via CPF website> My Messages> Insurance.

Important: Please inform us of any changes in your corresponding address so you can be updated on the latest status of your policy.

3. I do not have enough money in my Ordinary or Special Account. Can I use my Medisave account or family member's Ordinary or Special Account?
Premiums can only be deducted from your own CPF Ordinary or Special Account. If you do not have enough CPF savings to pay the premium for maximum cover, you can either pay the difference in cash or be insured for a lower amount (the minimum coverage is S$5,000).

4. Which account will premiums be deducted from?
Premiums will first be deducted from your Ordinary Account. If there are insufficient funds in your Ordinary Account, premiums will then be deducted from your Special Account.

5. How do I make payment for my premiums? Do I go to CPF Board or to Great Eastern after privatisation?
You will have to complete and mail the Reinstatement/Top-up Form to Great Eastern.

You can download the form by clicking here, or request for it to be sent to you by calling our Customer Service Officers on 1800-248 2888 or emailing us at Wecare-SG@greateasternlife.com.

Please note that if you are:

  1. requesting for an attempt to re-deduct from your CPF account, kindly ensure that you have sufficient fund for this option (i.e. that you have made a voluntary contribution to your CPF account or have new contributions made into your CPF account), or
  2. making a cheque payment, it will be payable to Great Eastern Life. Please write the policyholder Name, NRIC No and Policy No on the reverse of your cheque and send it to Customer Service Department, 1 Pickering Street, #01-01, Great Eastern Centre, Singapore 048659, or
  3. making cash payment, it will have to be made personally at Great Eastern Centre during office hours, or
  4. making payment via AXS Machine, please select Insurance> Great Eastern Life> Accident & Health.

6. I do not have sufficient funds in my CPF accounts hence no premiums have been deducted for the renewal. What is the status of my policy now?
If it is within 60 days from the renewal date and your policy is still in-force, you may do a top up without underwriting. If it is after 60 days from the renewal date, your policy will have lapsed.

If your policy has lapsed, you can reinstate the policy within 90 days from the renewal date. You will need to complete the Reinstatement/Top-up form and either make a cash/cheque payment or instruct us to re-deduct from your CPF account. Please note that reinstatement is subject to satisfactory health underwriting.

You can download the Reinstatement/Top-up form by clicking here, or request for it to be sent to you by calling our Customer Service Officers on 1800-248 2888 or emailing us at Wecare-SG@greateasternlife.com.

7. What should I do if the deduction for my DPS premium is partial?
If you wish to retore your DPS basic coverage to the maximum sum assured of S$46,000 and it is:

  1. within 60 days from the renewal date, kindly make the payment for the balance of premium required, or
  2. after 60 days from the renewal date, kindly complete the Reinstatement/Top-up form and either make a cash/cheque payement or instruct us to re-deduct from your CPF account. Please note that top-up is subject to satisfactory health underwriting.

If you wish to continue to be insured at the reduced sum assured, no action is required from you.

You can download the Reinstatement/Top-up form by clicking here, or request for it to be sent to you by calling our Customer Service Officers on 1800-248 2888 or emailing us at Wecare-SG@greateasternlife.com.

8. What is the duration of my coverage after paying the one year premium?
You will be covered for one policy year.

9. Why can't I top-up my CPF account for DPS premiums anymore?
You will not be able to top up your CPF account purely for DPS premium deduction. If you wish to make a voluntary CPF contribution for DPS premium deduction, the amount contributed will be credited into your CPF Ordinary, Special and Medisave accounts according to the percentage allocated for your age. This voluntary contribution can also be used for your housing and healthcare needs. In order to attempt deduction from your CPF account, we would need you to submit a re-reduction request to us after making the contribution.

Alternatively, you can make payment via any AXS machine directly to Great Eastern within 60 days from your policy renewal date. Please select> Great Eastern Life> Accident & Health.

10. I am above 55 years old and have funds in my CPF account. Why did the deduction fail?
Upon age 55 years old, the funds may have been transferred from your CPF ordinary and/or Special Account (OA/SA) to your Retirement account as such, deduction from the OA/SA has been unsuccessful due to insufficient funds.

To continue with the coverage, you may wish to make cash or cheque payment to Great Eastern.

11. What happens when I turn 60 years old?
When you turn 60 years old as of the renewal date, your DPS policy will be terminated as you would have reached the maximium age of coverage.

A letter will be sent to inform you when you have reached the maximum age of coverage.

12. How do I check my CPF account?
You may check your DPS policy status online via CPF website> My Messages> Insurance.

You can also check your CPF Account balance online via www.cpf.gov.sg. A SingPass is required to access to this service. If you do not have a SingPass, you can apply online via CPF website.

13. I have already paid for my premium using cash / cheque but why does my statement no longer reflect a deduction from my CPF account? Is my policy in-force?
Prior to 2012, payment received for DPS premiums will be credited into your CPF account and this amount will subsequently be deducted from your CPF account. As such, the deductions were reflected on your CPF statement.

With effect from 2012, payment received will no longer be credited into your CPF account. Therefore, the monies are directly applied into an account under your DPS policy. As such, if cash/cheque payment is made for your DPS premiums, deductions for DPS will no longer be reflected on your CPF statement. Please be assured that all is in order.

You may check your DPS policy status online via CPF website> My Messages> Insurance.

Reinstatement

1. Why did my policy lapse?
The policy will lapse if premium payment is not received within 60 days from the renewal date.

2. Why should I reinstate my policy?

DPS is a low cost term-life, opt-out insurance scheme that provides a basic coverage of up to S$46,000. It aims to provide the insured and their families with some money to tide them over the first few years in the event of death or permanent incapacity.

3. How long can I take to reinstate my policy?
Once the policy has lapsed, the reinstatement can be done within 90 days from the renewal date. A new application will have to be submitted after this deadline.

4. How do I reinstate my policy?
You can download the Reinstatement/Top-up form by clicking here, or request for it to be sent to you by calling our Customer Service Officers on 1800-248 2888 or emailing us at Wecare-SG@greateasternlife.com.

Kindly complete the Reinstatement/Top-up form and either make a cash/cheque payment or instruct us to re-deduct again from your CPF account. Please note that reinstatement is subject to satisfactory health underwriting. You may return the form to us at:

1 Pickering Street, #01-01,
Great Eastern Centre,
Singapore 048659.

Revocable Nomination

1. What is Revocable Nomination?
To make a Revocable Nomination, policyholder must be at least 18 years old, and the nomination can take place at any time. The Nominee can be any legal entity which includes any individual or organization. The nomination will take effect the date the form is received by the insurance company.

Under a Revocable Nomination, living benefits (e.g. Permanent Incapacity Claim) would be payable to the policyholder, and death benefit would be payable to the named nominee(s). An insurance company can effect full payment of the death claim to the nominee(s) and is fully discharged from its liability upon such payment. If there is more than one nominee, then the payment to each of the nominees would depend on the percentage of shares allocated to them.

If there is only 1 nominee and the nominee pre-deceased the policyholder, the Revocable Nomination is voided. The policyholder can make another revocable nomination during his lifetime. If there are 2 nominees and 1 of the nominees has pre-deceased the policyholder, at the time of policyholder's death, the deceased's nominee's share would be added to the surviving nominee's share of the death benefits. If there are more than 1 surviving nominees, each deceased nominee's share will be added to each surviving nominee's share in proportion to each surviving nominee's initial share.

If any of the nominees are below 18 years old, the proceeds will be paid to the parent or legal guardian.

2. Will the CPF nomination cover DPS claim proceeds?
CPF nomination does not cover DPS claim proceeds. You can nominate your nominees under the new Nomination Framework under the Insurance Act which was implemented on 1st September 2009. You can obtain the Revocable Nomination form by

  1. Clicking here to download the Revocable Nomination form
  2. Emailing us at Wecare-SG@greateasternlife.com
  3. Calling our Customer Service hotline on 1800-248 2888 to request for the form to be sent via post

Kindly complete the form indicating your nomination details and return it to us at:

1 Pickering Street, #01-01,
Great Eastern Centre,
Singapore 048659.

An acknowledgement letter will be sent after processing of the form.

3. Can I change my revocable nomination?
You may revoke (undo) your existing nomination and make another new nomination at any time. If you wish to revoke your existing nomination and not nominate any new nominees, please complete Form 5 Revocation of Revocable Nomination found in our website. If you wish to change nominees, please complete Form 4 Revocable Nomination.

4. What kind of nomination can I make? Can I make a trust nomination for my DPS?
When the policyholder makes a trust nomination, he / she loses all rights to the ownership of the policy. The policyholder can only revoke a trust nomination with the consent of all the nominees and all living benefits such as permanent incapacity payouts will go to the nominees. If you use CPF monies to pay for policies, you must retain complete control of your retirement funds for as long as you are alive. This means that trust nomination is not allowed for DPS as you will no longer have control over the proceeds of this policy during your lifetime.

5. Can Muslim policyholders make nominations?
Muslim policyholders may make revocable nominations for DPS. However, they should be aware that revocable nominations are subject to Syariah (Muslim law) and they can seek guidance from the Islamic Religious Council of Singapore (MUIS) on how the different types of nominations interact with the principles of Muslim law. The restrictions stated above on making trust nominations for CPF funded policies also apply to Muslim policyholders.

Others

1. What is the difference between ElderShield & DPS?
DPS is a national term insurance that auto covers CPF members who are Singaporeans or Permanent Residents from age 21 to 60. It covers death and permanent incapacity, where the life assured is unable to continue in any employment. Under these circumstances, the DPS benefit will be paid out in a lump sum. .

ElderShield is an insurance scheme that auto covers Singaporeans or Permanent Residents who have reached the age of 40. It provides a monthly cash payout of S$300 / S$400 up to a maximum period of 60 / 72 months to help those who become severely disabled*.

*Severe disability refers to the incapability of performing 3 out of the 6 daily activities such as washing, dressing, feeding, toileting, mobility and transferring. For more information, please visit our ElderShield website at http://www.greateasternlife.com/eshield/jsp/index.jsp.

2. Can I be assigned a Distribution Representative to service me for my DPS?
Yes, you can call our Customer Service Officers on 1800-248 2888 or email us at Wecare-SG@greateasternlife.com and we will arrange a Distribution Representative for you.

3. Can I change insurer after privatisation?
Yes, you can change insurer after privatisation by completing the application form from your preferred insurer. However, you will be subjected to medical underwriting. Please note that it is not necessary to terminate your DPS policy with your current insurer.

4. What do I have to do if I wish to opt out?
To opt out, you can call our Customer Service Officers on 1800-248 2888 or email us at Wecare-SG@greateasternlife.com for a copy of the opt out form.

Please take some time to reconsider the benefits of DPS. DPS is a low cost term-life, opt-out insurance scheme that provides a basic coverage of up to $46,000 to age 60. It aims to provide the insured and their families with some money to tide them over the first few years in the event of death or permanent incapacity. If you opt out and wish to rejoin later, you have to take up new proposal which will be subject to underwriting.

5. Can I convert my DPS into a participating policy and receive a bonus?
DPS is not a convertible policy.

6. When will I need to declare my health to the company?
You do not have to declare your health if you are an existing DPS policyholder before 17 September 2005.

You will have to declare your health condition if

  1. your policy has lapsed and you wish to reinstate it, or
  2. you want to apply for a top-up to your sum assured after 60 days from the renewal date, or
  3. you are applying for DPS, or
  4. your DPS cover has commenced on or after 17 September 2005.

If you have not submitted your declaration of health, you may download the Health Declaration Form by clicking here. Kindly complete the form and return it back to us at:

1 Pickering Street, #01-01,
Great Eastern Centre,
Singapore 048659.

An acknowledge letter will be issued to you after receiving your Health Declaration Form.

7. I have already reached 60 years old, why am I still covered?
Please note that as the renewal is based on the policy renewal date and is for a full policy year, you are considered to be 59 years old even if you have reach 60 on your birthday (in the midst of the policy year). Hence, you are still eligible for one policy year of coverage and that your policy will only cease on the next renewal date.

8. Who is entitled to bonus sum assured? Can I withdraw this?
The bonus sum assured is given to CPF members whose DPS coverage start before 28th June 2003. This sum was declared by the CPF Board during that period and it ranges from S$1,500 to S$4,000.

A second bonus was given to members covered under DPS as at 16th September 2005. This sum ranges from S$1,500 to S$3,850.

These amount are however not for withdrawal but will be payable together with the basic sum assured in the event a claim is admitted.

9. I am only a student. Why am I insured under DPS?
DPS is automatically extended to members who are Singapore Citizens or Permanent Residents, between age 21 and 59 when they make their first CPF contribution. This auto-cover feature of DPS is legislated under Part V of the CPF Act and the aim of the scheme is to insure members as early as possible when they start working and are more likely to be healthy and insurable.

If you are below 21 years of age and your DPS policy has lapsed, you will automatically be insured by DPS again if there are CPF contributions after your 21st birthday.

If you are below 21 years of age and you have opt out from the DPS policy, you will not be insured by DPS again after your 21st birthday.

10. I have already sold my flat. Why is my DPS still in force?
DPS is an affordable term insurance that covers CPF members against Death or Permanent Incapacitation up to age 60. Home Protection Scheme (HPS) is a mortgage reducing insurance which protects CPF members and their families against losing their homes should members become physically/mentally incapacitated or pass away before their HDB flats are sold or HDB loans are paid up. The two schemes are different. Even if your HDB flat was sold or HDB loans were fully paid up, you could still take up DPS.

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