Singapore legislation
Regulation 5
of Central Provident Fund (Dependants’ Protection Insurance Scheme) Regulations 2005
Regulation 5
Insured sum
Subregulation 1
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.
Subregulation 2
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.
Subregulation 3
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.
Subregulation 4
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 —
A is the sum for which the insured person was insured under the Scheme immediately before 1 April 2021; and
M is the maximum insured sum specified in the Third Schedule that applies to the insured person.
Subregulation 5
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:
if the insured person’s death or incapacity is the result of suicide or deliberate self‑injury committed within one year starting on the date of commencement;
if the insured person’s death arises from capital punishment for any criminal act committed within one year starting on the date of commencement;
if the insured person’s death or incapacity, directly or indirectly, arises out of or is consequent upon or contributed by his or her own intentional criminal act committed within one year starting on the date of commencement;
if the insured person’s death or incapacity arises from war or any warlike operations or participation in any riot;
if the insured person makes or provides to the Board or the appointed insurer (as the case may be) any statement or fact that is false or misleading in a material particular;
if the insured person is incapacitated or suffering from serious illness on or before the date of commencement.