Central Provident Fund (Dependants’ Protection Insurance Scheme) Regulations 2005

Subject to paragraph (4), the premium for an insurance cover under the Scheme which commences or is renewed on or after 1 April 2021 is the applicable premium specified in the First Schedule.

The premium mentioned in paragraph (1) may be paid —

If any premium payable for the renewal of an insured person’s insurance cover under the Scheme has not been fully paid in the manner described in paragraph (2) by the date on which the insurance cover is to be renewed, the unpaid amount may be deducted or paid (as the case may be) in accordance with section 45(4) of the Act within the grace period.

The Board may determine a reduced premium for the insurance cover in accordance with paragraph 1 of the Second Schedule and deduct the reduced premium from the moneys standing to the credit of the insured person in any of the relevant CPF accounts, where —

Where the premium paid for an insurance cover under the Scheme (which commences or is renewed on or after 1 April 2021) is the premium under regulation 4(1), the insured sum is the applicable maximum insured sum specified in the First Schedule.

Where the premium paid for an insurance cover under the Scheme (which commences or is renewed on or after 1 April 2021) is a reduced premium determined by the Board under regulation 4(4), the insured sum is the reduced insured sum corresponding to the reduced premium paid, calculated in accordance with paragraph 2 of the Second Schedule.

Where the premium paid for an insurance cover under the Scheme (which commenced or was renewed on or after 2 April 2020 but before 1 April 2021) was the maximum annual premium payable specified in the First Schedule, as in force immediately before 1 April 2021, the insured sum payable on the insured person’s death or incapacity (or deemed death or incapacity) on or after 1 April 2021 during the period of the insurance cover is the applicable maximum insured sum specified in the Third Schedule.

Where the premium paid for an insurance cover under the Scheme (which commenced or was renewed on or after 2 April 2020 but before 1 April 2021) was the annual premium payable for an insured sum of less than $46,000 under regulation 4(1)(b), as in force immediately before 1 April 2021, the insured sum payable on the insured person’s death or incapacity (or deemed death or incapacity) on or after 1 April 2021 during the period of the insurance cover is the amount (rounded up to the nearest $1,000) calculated in accordance with the formulawhere —

Subject to regulation 14(3), where the date of commencement of an insured person’s insurance cover under the Scheme is on or after 1 April 2021, the Board or the appointed insurer (as the case may be) is not liable to pay the insured sum in respect of the insurance cover in any of the following circumstances:

An insurance cover may be issued under section 43A of the Act in respect of a person, subject to such terms and conditions as may be imposed under section 42(6)(b) of the Act, if —

An insurance cover may also be issued under section 43A of the Act in respect of a person, subject to any terms and conditions that may be imposed under section 42(6)(b) of the Act, if —

For the purposes of section 47(1)(b) of the Act, an insured person’s insurance cover issued under section 43A of the Act begins on the date —

Subject to regulation 12(1), the insurance cover of an insured person under the Scheme must be renewed on the anniversary of the date of the commencement of his or her insurance cover.

Where the Board has deducted, under regulation 4(4), the reduced premium for an insured person’s insurance cover under the Scheme in accordance with paragraph 1 of the Second Schedule, the insured person is deemed to be so insured under the Scheme without any break in insurance cover, for the purposes of these Regulations.

Where the premium mentioned in regulation 4(1) for an insurance cover under the Scheme is paid in full before the expiry of the grace period, the insured person is deemed to be so insured under the Scheme without any break in insurance cover, for the purposes of these Regulations.

The Board may reinstate an insured person’s insurance cover pursuant to section 43A of the Act, subject to such terms and conditions as may be imposed under section 42(6)(c) of the Act, if —

Where an insured person’s insurance cover is reinstated pursuant to section 43A of the Act from a date immediately after the cessation of the insurance cover under regulation 12(1)(c), the insured person is deemed to be insured under the Scheme without any break in insurance cover, for the purposes of these Regulations.

Where an insured person gives written notice to the appointed insurer that the insured person does not wish to be insured under the Scheme, the insured person ceases to be insured under the Scheme from the later of the following dates:

If an insured person who is insured under the Scheme pursuant to section 42(1) of the Act opts out of the Scheme within 2 months after the date of the commencement of his or her insurance cover, the appointed insurer must refund to the insured person —

If an insured person who is insured under the Scheme pursuant to section 42(1) of the Act opts out of the Scheme at any time after the second month of the commencement of such insurance cover, the appointed insurer must refund to the insured person a proportionate amount of the premium in respect of the unexpired period of the insured person’s insurance cover under the Scheme.

If an insured person who is insured under the Scheme pursuant to section 42(4) of the Act opts out of the Scheme within 14 days after the date of the commencement of his or her insurance cover, the appointed insurer must refund to the insured person —

If an insured person who is insured under the Scheme pursuant to section 42(4) of the Act opts out of the Scheme at any time after the 14th day of the commencement of such insurance cover, the appointed insurer must refund to the insured person a proportionate amount of the premium in respect of the unexpired period of the insured person’s insurance cover under the Scheme.

Where the appointed insurer has reason to believe that an insured person insured pursuant to section 42(1) or (4) of the Act is unable, by reason that the insured person lacks capacity within the meaning of section 4 of the Mental Capacity Act 2008, to make the decision to opt out of the insured person’s insurance cover for himself or herself —

An insured person ceases to be insured under the Scheme if —

Where an insured person ceases to be insured under the Scheme by virtue of paragraph (1)(b) or (c), he or she may subsequently apply to the appointed insurer to be insured under the Scheme and the appointed insurer may grant the application subject to any terms and conditions that the appointed insurer may impose.

For the purposes of section 42(6)(a) of the Act, the Board or an appointed insurer (as the case may be) may refuse to insure, under the Scheme, any person who applies under section 42(4) of the Act to be insured under the Scheme if the Board or an appointed insurer (as the case may be) has reason to believe that the person is suffering from serious illness.

Despite having reason to believe that a person suffers from serious illness on or before the date of commencement of the person’s insurance cover under the Scheme, the Board or an appointed insurer (as the case may be) may —

Regulation 5(5)(f) does not exclude the Board or the appointed insurer (as the case may be) from liability to pay the insured sum in respect of an insured person who was suffering from serious illness on or before the date of commencement of that person’s insurance cover under the Scheme if —

Every application by a member —

Any application by a member to be insured under the Scheme in accordance with section 42(4) of the Act is subject to such terms and conditions as the appointed insurer may impose.

Paragraph (4) applies where the prescribed premium for insurance cover under the Scheme for a period of 12 months has been paid or deducted in respect of a member insured by virtue of section 42(1) of the Act and that member attains the maximum age under section 42(2)(a) of the Act during that period.

To avoid doubt, where this paragraph applies by virtue of paragraph (3) —

An insured person may, at the discretion of the Board, be granted a bonus insured sum in addition to the insured sum to which the insured person is entitled under the Scheme if —

An insured person may, at the discretion of the Board, in addition to any bonus insured sum which the insured person may have been granted under paragraph (1), be granted a bonus insured sum if the insured person was insured under the Scheme as at such date as the Board may determine.

Where an insured person is granted a bonus insured sum under paragraph (1)(b), the Board may allow the insured person to be insured under the Scheme again with effect from such date as the Board may determine.

No bonus insured sum under paragraph (1) or (2) is payable to an insured person for any period of insurance cover on or after 1 April 2021.

Where —

Subject to any terms and conditions that the Board may impose, the Board may pay to an eligible person the following amounts on account of the discontinuance of the bonus insured sum under paragraph (4):

The payment under paragraph (6) must be credited into the eligible person’s ordinary account.

In this regulation —

This regulation applies to an insured person who remained insured under the Scheme (under regulation 7(9) as in force immediately before 1 April 2021) for an insured sum remaining unpaid at the date from which the insured person was no longer incapacitated (called in this regulation the person’s remaining insured sum) and continues to be so insured immediately before 1 April 2021.

Despite regulation 5, where the insurance cover under the Scheme of an insured person mentioned in paragraph (1) (called in this regulation the applicable person) was renewed on or after 2 April 2020 but before 1 April 2021, the insured sum payable on the applicable person’s death or incapacity (or deemed death or incapacity) on or after 1 April 2021 during the period of the insurance cover is the amount (rounded up to the nearest $1,000) calculated in accordance with the formulawhere —

Despite regulation 4(1), the premium for an applicable person’s insurance cover under the Scheme for an insured sum of the amount under paragraph (2) which is renewed on or after 1 April 2021 is an amount computed in accordance with the formulawhere —

Regulations 4(2), (3) and (4) and 9(3) and (4)(b) and (c) apply in relation to an applicable person’s insurance cover under the Scheme as if each reference to the premium mentioned in regulation 4(1) is a reference to the premium mentioned in paragraph (3).

Paragraph 1 of the Second Schedule applies in relation to the computation of the reduced premium for an applicable person’s insurance cover under the Scheme as if M and P in that Schedule have the meanings given by paragraph (3)(b) and (c), respectively.