This month is one of the few times in the year whereby some PolicyHolders get the letter from our company to notify that their Dependent Protection Scheme or DPS is due for renewal and that they should make sure that their CPF-Ordinary and/or Special account still has sufficient fund to pay for the premiums.
The Issue With People Whom Understand The Plan
Sometimes I feel that Ignorance is Bliss is a better choice because after most PolicyHolders know what is the Dependent Protection Scheme all about, most of them decide to opt-up for the plan… citing the two common reasons like:
- Premium paid is down the drain
- Nothing will happen to me before age 60
Without ever considering the positive side – a low premium for a high sum assured or how useful this lump sum of money is to the family in times of need.