The insurance policy you might not even know about

Dependants’ Protection Scheme – term life insurance for Singapore Citizens and Permanent Residents

17 Jul 2023
The insurance policy you might not even know about

There’s an insurance policy that many Singapore Citizens and Permanent Residents have but might not know about. And it’s solely administered by... none other than Great Eastern Life!

You might or might not have heard of it: It’s called the Dependants’ Protection Scheme, or DPS.

Wait, what is Dependants’ Protection Scheme (DPS)?

Simply put, DPS is a term-life insurance scheme that provides coverage against Death, Terminal Illness1 and Total Permanent Disability2. It is automatically extended to all working Singapore Citizens or Permanent Residents, upon a valid CPF working contribution between the age of 21 and 65. 

How much does it cost, and what does it cover?

If you’re worried about it costing a ton, don’t! DPS annual premiums are relatively affordable, starting from S$18 and maxing out at S$298. Your premiums can be paid using your CPF savings. As long as you have sufficient funds, no out-of-pocket cash is required.

If you’re between 16 to 59 years old, you’ll get S$70,000 of coverage. Those that are between 60 to 64 years old get S$55,000 of coverage. Here’s a table that illustrates the premiums against your attained age:

Age (Last Birthday)

Yearly Premium

Sum Assured

34 and below



35 – 39


40 – 44


45 – 49


50 – 54


55 – 59


60 – 64



Is there anything else I need to know?

Exclusively for DPS policyholders, you can enhance your coverage with GoGreat Term Life – one of the lowest-premium term plans available in Singapore. Get up to S$300,000 coverage from just S$0.21* a day.

At each GoGreat Term Life policy renewal, your premiums will be based on your attained age as shown in the premiums table below. The premiums may be adjusted according to future experience.

Your age

Sum Assured



34 and below



35 – 39



40 – 44



45 – 49



50 – 54



55 – 59



60 and above



GoGreat Term Life completes your protection needs till age 65 against Death, Terminal Illness1 and Total Permanent Disability2. Furthermore, it’s a hassle-free application with no medical check-up required. Simply sign up online by answering a few health related questions. It’s as simple as that!

Making a nomination

Nominating a person for your DPS means that in the event of your death, they will receive a payout. This could be your spouse, partner, children, or parents. You can download the nomination form here.

Claim your rewards

On a lighter note, being a DPS policyholder also makes you a Great Eastern Customer, which entitles you to various rewards. Enjoy dining rewards, surprises and fabulous insurance product offers curated just for you. To find out more, visit Rewards and Promotions or simply download Great Eastern Rewards app to Reach for Great rewards!

GoGreat Term Life
GoGreat Term Life

Enhanced coverage for DPS policyholders



* Daily rate is based on life assured's age at 34 and below with a sum assured of S$300,000, divided by 365 days. At each policy renewal, your premiums will be based on your attained age. The premiums may be adjusted according to future experience.

1 Terminal Illness refers to an illness that a registered medical practitioner under the Medical Registration Act certifies is expected to result in death within 12 months.

2 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 both eyes, both limbs, or one eye and one limb.

certified by a registered medical practitioner under the Medical Registration Act.


All ages specified refer to Age Last Birthday.

Figures presented are subject to rounding.

GoGreat Term Life offers customers the option to get increased protection coverage beyond the maximum sum assured provided by Dependants’ Protection Scheme (DPS). GoGreat Term Life can be purchased separately and will not affect or modify any existing DPS policy owned.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

The information presented is for general information only and does not have regard to the specific investment objectives, financial situation or particular needs of any particular person.

As this product has no savings or investment feature, there is no cash value if the policy ends or if the policy is terminated prematurely.

You may wish to seek advice from a financial adviser before making a commitment to purchase this product. If you choose not to seek advice from a financial adviser, you should consider whether this product is suitable for you.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC).  Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites ( or

Information correct as at 17 July 2023. 

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