The HDB Property Defense Scheme (HPS) is a mandatory mortgage loan-minimizing coverage application administered by the CPF Board, meant to guard HDB flat homeowners as well as their families from shedding their house should really they turn into struggling to support their housing personal loan on account of Demise or a complete long term incapacity ahead of the age of sixty five. The plan is Obligatory for flat owners who use their CPF personal savings to pay for for their every month mortgage installments. HPS premiums are paid each year with the policyholder's CPF Standard Account, Along with the cost based on factors like age, gender, mortgage sum, and repayment time period. The policy's protection volume is pegged on the fantastic housing bank loan, and it decreases with time because the loan is compensated down. Homeowners who want to be exempted from HPS can submit an application for a waiver by demonstrating website they may have ample protection from other sources, which include A non-public life coverage or an endowment policy.