Personal Finance
Dependants’ Protection Scheme (DPS): A Complete Guide
By Singapore Financial Planners  •  August 20, 2022
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/*! elementor - v3.7.1 - 14-08-2022 */ .elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#818a91;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#818a91;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block} The Dependants’ Protection Scheme (DPS) is probably one of the lesser-known schemes amongst Singaporeans as compared to those like MediShield Life or CPF LIFE. And as much as you may not know about DPS, you’ll be surprised that you are in fact automatically covered when you make your first working CPF contribution! So hooray, you’re covered. But what does that exactly mean? Instead, the better question to ask is – what benefits does it provide me? Stick around to find out.

What is the Dependants’ Protection Scheme (DPS)?

Provided solely by Great Eastern Life, the DPS is an optional term-life insurance scheme for all eligible CPF members from the age of 21 to 65. It is meant to provide you and/or your families with financial
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By Singapore Financial Planners
We believe in the power of financial literacy. It’s unfortunate that schools do not provide crucial life lessons like financial planning. Thus, we created Singapore Financial Planners to create a space where we provide financial education so that you can make an informed decision.
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