The HDB Home Protection Plan (HPS) is a compulsory property finance loan-minimizing insurance policies program administered because of the CPF Board, designed to shield HDB flat house owners and their family members from dropping their residence must they turn into not able to services their housing personal loan resulting from death or a complete long-lasting incapacity before the age of sixty five. The plan is compulsory for flat homeowners who use their CPF personal savings to pay for for their every month financial loan installments. HPS premiums are paid out annually through the policyholder's CPF Regular Account, While using the Price based on components for instance age, gender, personal loan amount, and hdb home protection scheme 260 23 repayment period. The plan's coverage total is pegged into the exceptional housing personal loan, and it decreases as time passes since the financial loan is compensated down. Entrepreneurs who wish to be exempted from HPS can apply for a waiver by demonstrating they've adequate coverage from other resources, for instance A non-public lifetime insurance or an endowment coverage.