CPF for Family Protection

Dependant Protection Scheme (DPS)

• CPF members who are Singapore citizens or Permanent Residents, between age 16 and 60, when they make their first CPF contribution are qualified
• helps you and your family to tide over the first few years in the event of an insured member's permanent incapacity or death.
• choice of 2 insurers: Great Eastern Life Assurance Company Limited or NTUC Income Insurance Cooperative Limited
• as DPS member, you can avail of affordable premiums
• premiums can be paid using CPF Ordinary/Special Account, no out-of-pocket cash is required
• an optional term insurance which covers CPF members for a maximum sum assured of $46,000 up to age 60.  The coverage is worldwide.  
• A claim can be made when:
  
  • The member becomes physically/mentally incapacitated and can no longer work as certified by a doctor, or
  • The member dies.

  The DPS benefit will not be payable if the death or permanent incapacity is the result of:
  

  • suicide or self-inflicted injury within the first year of cover; or
  • capital punishment resulting from crimes committed within the first year of cover; or
  • pre-existing illnesses/conditions or impairment/ incapacity before the cover started unless approval has been granted by your insurer; or
  • participation in wars, any war-like operations or riots.
• DPS benefits will be distributed to the beneficiaries according to the nomination or the will. 
• If an insured has not made a nomination or drawn up a will, DPS claim benefits will be distributed to the beneficiaries of the estate (via the legal representative of the estate) or to the proper claimants as defined under the Insurance Act. A proper claimant is usually the deceased's immediate family member, e.g. spouse, parent, child or sibling.

Home Protection Scheme (HPS)

• protects you and your family from losing your home
• applicable to all CPF members who use their CPF savings to buy an HDB flat. 
• Should the insured member become permanently incapacitated or die, the CPF Board will pay the outstanding housing loan based on the amount insured.

Medishield

• a catastrophic medical insurance scheme to help you and your dependants to meet the high medical costs of prolonged or serious illnesses. 
• For older CPF members, there is ElderShield, an affordable severe disability insurance scheme that provides insurance coverage to those who require long-term care.
• designed to help Singaporeans  pay part of the large hospitalisation bills for treatment of serious illnesses or prolonged hospitalisations at Class B2/C wards in restructured hospitals, and Singapore Permanent Residents (SPRs) who are eligible for subsidised medical care in restructured hospitals in Singapore.
• covers hospitalisation expenses and certain approved outpatient treatments, such as kidney dialysis, chemotherapy and radiotherapy for cancer treatment. For more info on coverage
• premiums can be paid yearly through the Medisave Account

Source: www.cpf.gov.sg