Muslims, Take Control of Your Inheritance: The DPS Nomination Hack You Can’t Ignore!
As a Muslim, inheritance planning can feel limiting. The Faraidh law dictates how your assets are distributed after you pass on, leaving little room for personal choice. However, there’s one critical exception many overlook: your insurance payouts.
One such insurance policy is the Dependants’ Protection Scheme (DPS), and making a nomination for this can provide you with the freedom to decide who benefits from it.
What is DPS?
The Dependants’ Protection Scheme is a term life insurance policy funded by your CPF contributions. It’s administered by Great Eastern and offers a safety net for your loved ones:
- Up to $70,000 if you pass away before age 60.
- Up to $55,000 if you pass away before age 65.
While this policy is straightforward, its nomination process is often overlooked—potentially leaving the payout to follow default legal structures.
Why Make a Nomination?
When you nominate beneficiaries for your DPS, you get to decide exactly who receives the payout. Without a nomination, the funds may not go to the people you intended to help the most.
This is particularly important for Muslims, as nominating your DPS is one of the few ways to exercise discretion over your financial legacy.
How to Nominate Your DPS Beneficiaries
Making a nomination is simple and can be done online in just a few steps:
- Search for “DPS Nomination” on Google. Click the first result, which will take you to the Great Eastern website.
- Scroll to the bottom of the page. Look for the “Nomination” section and download the nomination form.
- Complete the Form.
- Submit the Form. Email the completed form to Great Eastern (GE).
By doing this, you ensure that the DPS payout will be distributed according to your wishes, providing financial support to the people who matter most.
Take Action Today
Don’t let your financial legacy be left to chance. Take control of your DPS nomination today to ensure your loved ones are cared for according to your wishes.
Start by visiting the Great Eastern website, downloading the form, and making your nomination—it’s a small effort that makes a world of difference for your family.
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek unbiased financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
Published By:
Devnavin Madeswaran
My Investment Planning Approach:
I specialize in helping Indian expats create comprehensive investment strategies that address both their immediate needs abroad and long-term goals back home. Whether you’re on an Employment Pass in Singapore, working in the Gulf, or established in Western markets, I help you:
- Design cross-border investment portfolios that balance growth and accessibility
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- Plan for major life transitions – children’s education, property purchases, retirement repatriation
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- Build wealth that serves both your global lifestyle and your roots
I understand the cultural context of our community’s financial goals – from supporting extended family to investing in property back home, from planning children’s education to preserving wealth for the next generation.
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