The HDB Property Protection Scheme (HPS) is a mandatory mortgage-cutting down insurance policy method administered by the CPF Board, intended to guard HDB flat owners as well as their families from losing their house ought to they grow to be unable to company their housing personal loan as a consequence of Loss of life or a complete everlasting incapacity prior to the age of 65. The plan is compulsory for flat entrepreneurs who use their CPF discounts to pay read more for their month to month loan installments. HPS premiums are compensated each year in the policyholder's CPF Everyday Account, Along with the Expense based on elements which include age, gender, bank loan amount of money, and repayment time period. The coverage's protection amount of money is pegged towards the fantastic housing financial loan, and it decreases over time because the financial loan is paid out down. House owners who wish to be exempted from HPS can apply for a waiver by demonstrating they've sufficient protection from other resources, for example A non-public lifestyle insurance coverage or an endowment plan.