Notes: Policyholders who are covered under DPS subject to special terms or exclusions before 01 May 2016, will have the same terms or exclusions imposed on them for any claim for total and permanent disability. The Insured scheme lets you hang on to the tenant’s deposit while paying insurance to protect it for as long as the tenancy lasts. What is the Dependants’ Protection Scheme (DPS)? The Dependants' Protection Scheme (DPS) is a life insurance term plan covering many people here.

DPS is a term-life insurance scheme which provides insured members and/or their families with some money to get through the first few years should the insured members meet an untimely death or suffer from terminal illness or total permanent disability.

DPS covers insured members for a maximum sum assured of $46,000 up to 60 years old.

Currently, DPS … If your application is rejected or offered to you with sub-standard terms, you will still be covered by your original insurer. You will no longer be able to reinstate your DPS policy. The coverage is worldwide and insured members will be insured up to the end of the policy year during which they turn 60 years old. DPS_insured_terms&conditions_Apr2015 V23.0 The Deposit Protection Service - Insured Terms and Conditions 1. If you miss this deadline, your top-up application will be subject to medical underwriting. Claim benefits are not payable if any of the following events occur within the first policy year: If your cover is subject to exclusions before 01 May 2016, the same exclusions will apply to a claim under Total Permanent Disability. Life & Health Operations Will I get any money back after I turn 60 years old? DPS is an optional scheme which covers CPF members who are Singapore Citizens or Permanent Residents for a maximum sum assured of $46,000. If my policy has lapsed / I have opted out of DPS and I want to reinstate my policy, will I still be entitled to the bonus sum assured? CPF Nomination Scheme; CPF Withdrawals on Other Grounds; Dependants' Protection Scheme Currently selected; CPF Education Loan Scheme ; CPF Contribution for Employees; Others; … If there are insufficient funds in your CPF account for the full premium deduction, you will receive a notice to make payment for your policy. How to register and other general guidance. 24 min read. It is usually agreed upon and signed by both the landlord and the tenant at the start of the tenancy. What is Dependants’ Protection Scheme (DPS)? If you are planning to cancel your coverage under the Dependants’ Protection Scheme (DPS), please take some time to reconsider the benefits of DPS. No, you will need to pay your premium through your CPF account. Why have I not received my Certificate of Insurance after my policy was renewed? This costs £9.50 per month. 0330 303 0030. back to top; back to navigation; back to content; skip to navigation; skip to content; Join; Log in; Log in to my Insured account. Below table shows the benefit comparison. DPS is an affordable term-life insurance scheme that provides insured members and their families with some money should the insured members pass away, suffer from Terminal Illness or Total Permanent Disability. DPS is a scheme that you can opt out from. In most cases, the landlord and tenant will agree to the deductions, and then both confirm the repayment arrangement to the provider. What is the difference between Dependants’ Protection Scheme (DPS) and Home Protection Scheme (HPS)? This makes insured schemes an attractive proposition for landlords with expensive properties, large portfolios or long contract terms. This form is for landlords and letting agents who want to create an Insured scheme account. There are two kinds of scheme that landlords can use to register a rental security deposit: custodial and insured. To terminate your DPS policy, you will need to complete the opt out form and submit it at Income branch or by post to: If the premiums are paid by cash or cheque, the premium refund will be by cheque. In this case, the landlord should repay the tenant the undisputed £800, then pay £200 to the scheme. Membership of the Insured Scheme allows the landlord or letting agent to hold the deposit as stakeholder for the duration of the tenancy (for agents this must be a ring-fenced client account) and the landlord, registering the deposits directly, pays online to complete the registration process. No further Terms and Conditions will be issued to you on annual renewal unless the cover has changed. You can reinstate your policy within 120 days from your policy lapse date. Can I pay my premium via cash / cheque for subsequent renewals and not through my CPF account? DPS is a term-life insurance scheme for CPF members. Central Provident Fund (CPF) members are automatically included under DPS if they are a Singapore Citizen or Permanent Resident, between ages 21 and 60, and have made their first CPF working contribution. They must pay the disputed amount to the scheme provider – not the whole deposit. In deposit protection, Insured, Landlords, Letting Agents, Updates. You can pay the difference either by cash or cheque or by authorising us for another deduction attempt from your CPF account. Become a member online. A notification letter will be sent to you at least 1 month before your renewal date. The DPS insured scheme will not be charging registration fees to its customers and will provide industry competitive protection fees for landlords and letting agents when the scheme launches in April. If you cancel this policy after 14 days from the policy commencement date, we will refund to you the pro-rated part of the premiums, which is based on the remaining unused days of cover. Dependants' Protection Scheme (DPS) Term Life Insurance Affordable term-life insurance that automatically covers all Singapore Citizens and Permanent Resident CPF members who are aged 21 to 60 years old. you or the agent holds the deposit and you pay the scheme to insure it - known as an ‘insured’ scheme; At the end of the tenancy. Some common forms of evidence accepted include: the terms of the contract, bank statements, utility & council tax bills, inventory reports, photographs/videos of the property, email correspondences, cleaning charges, witness statements. DPS is a term-life insurance scheme that provides insured members and their families with a sum of money to get through the first few years should the insured members pass away, or suffer from terminal illness or total permanent disability. This is provided your policy is renewed with at least a minimum sum assured of $5,000. DPS is an affordable term-life insurance scheme where premiums can be deducted from your CPF Ordinary Account and/or Special Account. Click here for a full guide to the Tenant Fees Act. You should note that Income will not consider your claims if you were found giving false or misleading statements, or have withheld relevant information in your health declaration. 2 In 5 Singaporeans Think Not Doing This Is Uncaring, How Life Insurance Works To Protect Your (And Your Children’s) Happiness. The coverage is worldwide and insured members will be insured up to the end of the policy year during which they turn 60 years old. If you are unsure if this plan is suitable for you, we strongly encourage you to speak to a qualified insurance adviser. I am currently insured under DPS with Great Eastern Life.

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