Yup, you read it correctly – You might be over-insured by $46,000!
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 – 4484
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 …