The HDB Property Safety Plan (HPS) is a compulsory mortgage loan-lessening insurance policies application administered through the CPF Board, meant to shield HDB flat homeowners and their families from dropping their residence need to they come to be struggling to service their housing personal loan as a consequence of Demise or a total long-lasting disability ahead of the age of 65. The scheme is Obligatory for flat proprietors who use their CPF financial savings to pay for for his or her regular monthly mortgage installments. read more HPS premiums are compensated each year from the policyholder's CPF Standard Account, With all the Charge based on aspects for instance age, gender, loan volume, and repayment interval. The plan's protection quantity is pegged on the superb housing loan, and it decreases after a while given that the loan is paid down. Owners who desire to be exempted from HPS can apply for a waiver by demonstrating they've sufficient protection from other sources, including a private life insurance policy or an endowment plan.