When members die (irrespective of whether they were undischarged bankrupts or not), all CPFIS investments* and any cash held in their CPF investment account under the CPFIS-OA form part of the deceased members' estate and will be distributed according to applicable laws. These investments cease to be protected from deceased members' creditors under the CPF laws and may be used to satisfy creditors' claim in accordance with the Probate and Administration Act. This applies whether the deceased member is an undischarged bankrupt or not.

* In the case of NTUC Income insurance policies, policyholders may have the choice to nominate their beneficiaries to receive the insurance money.

Source: CPF Website