Central Provident Fund Change in DPS insurer may mean new exclusions for some
From April 1, Great Eastern Life will be the sole insurer for the Central Provident Fund Board's Dependants' Protection Scheme (DPS).

DPS customers currently insured under NTUC Income will have their policy automatically transferred to Great Eastern and the original policy commencement date will remain unchanged.

As outlined in the information leaflet provided by Great Eastern to NTUC Income's DPS policyholders, policyholders must declare all past and current illnesses as well as provide details of surgery, treatment or medical tests that they had previously undergone or will be undergoing.

The shift may be detrimental to NTUC Income's DPS policyholders, since a policyholder's health could have deteriorated between September 2005, when DPS was first privatised, and April 2021, when Great Eastern takes over.

Such policyholders may then be subjected to exclusions that were not in place when they first signed up for DPS with NTUC Income.

After all, medical conditions such as high blood pressure, which would trigger exclusions due to pre-existing conditions, typically emerge when a person enters middle age.

Diagnosis of critical illnesses like cancer are far more likely to occur when someone is in his 40s, compared with 16 years ago when he first signed up for the DPS.

I urge the CPF Board to look into this matter, as some policyholders will be adversely affected by this switch.

Lim Fung Ming

Source: https://www.straitstimes.com/opinion/forum/forum-change-in-dps-insurer-may-mean-new-exclusions-for-some

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