Most Singaporeans with CPF are automatically enrolled under the Dependents Protection Scheme (DPS).
Visit your CPF account online to check if you are currently over-insured by $46,000!
You can reduce your coverage if you are.
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The DPS is a Life Insurance + Terminal Illness Insurance + Total Disability Insurance.
It insures you until you reach age 60.
The premiums are paid via your CPF account (Ordinary Account or Special Account).
Age (as of last birthday) | Yearly Premiums |
---|---|
34 years & below | $36 |
35 - 39 | $48 |
40 - 44 | 84 |
45 - 49 | $144 |
50 - 54 | $288 |
55 - 59 | $260 |
By reducing your coverage by $46,000, you could potentially be saving between $75-$100 annually on your insurance premiums. That is actually a pretty significant sum you can use for other ......