| Understand | What is the Home Protection Scheme (HPS)? | <p>The HPS is a mortgage-reducing insurance that protects members and their families against losing their HDB flat in the event of death, terminal illness or total permanent disability. HPS insures members up to age 65 or until the housing loans are paid up, whichever is earlier.</p> | Home Protection Scheme | 1649 | 1649 |
| Understand | Do I need to be insured under HPS? | <p>You have to be insured under HPS if you are using your CPF savings to pay for your monthly housing loan instalments on your HDB flat. HPS does not cover private residential properties, such as executive condominiums (ECs) or privatised Housing and Urban Development Company (HUDC) flats.</p> | Home Protection Scheme | 1652 | 1652 |
| Understand | When will my HPS cover start? | <p>Your HPS cover starts when you meet all of the following conditions:</p><ul><li>You are the legal owner of the flat. </li><li>You have completed the loan application with HDB or the approved mortgagee and are now legally responsible for the loan. </li><li>You have made your health declaration which is accepted for HPS coverage. </li><li>You have paid the first HPS premium.</li></ul> | Home Protection Scheme | 1653 | 1653 |
| Evaluate | How much must I be insured for under Home Protection Scheme (HPS)? | <p>Your share of the HPS cover should at least match the proportion of the monthly housing instalment which is payable with your CPF savings and/or cash. This is because HPS pays off the outstanding housing loan, up to the sum assured, based on the percentage share of cover of the insured in the event of death, terminal illness or total permanent disability. For example, if you are paying 80% of the monthly housing instalments, and your co-owner pays the remaining 20%, you should be insured for 80% of the loan and your co-owner 20%.</p><p>The total share of cover per household should add up to at least 100%.</p><p>However, you may each choose to insure for a higher or lower share based on your individual needs and circumstances, up to 100% share of cover per owner. For example, if you and your co-owner are paying 80% and 20% of the loan respectively, you can both be insured for 100%. This means that the Board would settle 100% of the outstanding housing loan up to the insured sum in the event of death, terminal illness or total permanent disability.</p> | Home Protection Scheme | 1656 | 1656 |
| Evaluate | How long am I covered under HPS? | <p>New members insured under HPS will be covered under the Annual Premium (AP) HPS up to 65 years old or until your housing loan is paid up, whichever is earlier.</p><p>For members insured under HPS before 1 March 2001, your Single Premium (SP) HPS will cover you up to 55 or 60 years old, depending on when you joined the scheme. This is stated in your SP certificate. The Board will extend an AP cover should your SP cover expire and you still have an outstanding housing loan. The issuance of AP cover is subject to premium payment.</p> | Home Protection Scheme | 1657 | 1657 |
| Evaluate | How long do I need to pay the HPS premium? | <p>You will only need to pay annual premium for 90% of your HPS cover period. For example, if your HPS cover period is 30 years, you will only need to pay the premium for 27 years.</p> | Home Protection Scheme | 1671 | 1671 |
| Evaluate | How can I pay the HPS premium? | <p>The annual premium will be deducted automatically from your CPF Ordinary Account (OA) to renew your cover. HPS premium deduction has priority over that of your monthly housing instalment. This is to ensure that you remain insured under HPS before you use your CPF to service the loan.</p><p>You will receive a notification from the CPF Board to top up to your OA if the balance is insufficient to pay the premium.</p> | Home Protection Scheme | 1658 | 1658 |
| Evaluate | What if there are insufficient funds in my CPF Ordinary Account (OA)? | <p>You will be informed and can make payment via the following modes:</p><ul><li>eNETS / PayNow at
<a href="https://www.cpf.gov.sg/eSvc/Web/Miscellaneous/Cashier/ECashierHomepage">e-Cashier</a>; or<br></li><li>Cash at any Singapore Post branch offices</li></ul><p>Your spouse, parent, child or sibling, who co-owns the flat with you, can also authorise us to use his/her CPF OA savings to pay your premium shortfall.</p><p>If you are financially affected by the COVID-19 situation and need to defer your HPS premium payment, please contact us at <a href="/writetous">cpf.gov.sg/writetous</a>.</p> | Home Protection Scheme | 1659 | 1659 |
| Evaluate | What happens if I do not pay my HPS premium? | <p>Your HPS cover will lapse and you will not be covered under the scheme.</p><p>You will need to re-apply if you wish to be covered under HPS and your eligibility for coverage will be subject to your health condition at the point of the re-application.</p><p>If you are financially affected by the COVID-19 situation and need to defer your HPS premium payment, please contact us at <a href="/writetous">cpf.gov.sg/writetous</a>.</p> | Home Protection Scheme | 1660 | 1660 |
| Evaluate | Do I have to declare my health condition under the HPS? | <p>Yes, you have to fully disclose all information regarding your health, including:</p><ul><li>All your past and current illnesses; </li><li>Any past or planned surgery; and </li><li>Any physical or mental impairment.</li></ul><p>You may be required to undergo a medical examination. The CPF Board may also request a copy of the medical report on your health condition.</p> | Home Protection Scheme | 1661 | 1661 |
| Evaluate | How is the HPS premium calculated? | <p>The HPS premium is calculated based on four factors:</p><ol><li>Outstanding housing loan on the flat </li><li>Loan repayment period of the flat </li><li>Type of loan (concessionary or market rate) </li><li>Age and gender of member</li></ol><p>You can estimate your HPS premium using the
<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/HomeProtectionSchemePremium/HomeProtectionSchemePremiumLanding" target="_blank">Home Protection Scheme Premium Calculator</a>.</p> | Home Protection Scheme | 1662 | 1662 |
| Evaluate | How are HPS claims paid when the member suffers from terminal illness or total permanent disability, or passes away? | <p>We will settle the outstanding housing loan, up to the insured sum, with HDB or the mortgagee directly.</p><p>If the member suffers from terminal illness or total permanent disability, or passes away on or after 1 May 2016, with the sum assured higher than the outstanding loan, the excess amount will be paid into the insured member’s Ordinary Account.</p><p>For deceased members, their CPF savings will be distributed to their nominees. In cases where no nomination was made, the Public Trustee will distribute the deceased member’s CPF savings under the intestacy laws or Muslim inheritance laws. The member and/or his/her joint owner(s)/personal representative(s) will be informed once the claim payment has been made.</p> | Home Protection Scheme | 1665 | 1665 |
| Evaluate | What are the exclusions for HPS claims? | <p>Members will not be able to claim under HPS if the following events occur within the first policy year of the cover:</p><ul><li>they committed self-inflicted injury or suicide, or</li><li>they committed a criminal offence punishable by death, or</li><li>the claim arose out of their own intentional criminal act.</li></ul><p>Members will also not be able to claim under HPS if</p><p></p><ul><li>they were not in good health before the commencement of HPS cover, or</li><li>they provided false or misleading information, or</li><li>the claim arose from wars or any warlike operations or participation in any riot</li></ul> | Home Protection Scheme | 1666 | 1666 |
| Evaluate | When will I need to adjust my HPS cover? | <p>You need to adjust your HPS cover if:</p><ul><li>The loan repayment period or loan amount has changed or </li><li>Your share of responsibility in repaying the loan has changed</li></ul><p>This is to ensure that you are not over-insured and that your share of HPS cover is sufficient to pay your share of the outstanding loan in the event of death, terminal illness or total permanent disability.</p> | Home Protection Scheme | 1664 | 1664 |
| Decide | Can I apply to be exempted from Home Protection Scheme (HPS)? | <p>You can apply for HPS exemption if you already have one or more of the following insurance policies:</p><ul><li>Whole Life </li><li>Term Life </li><li>Endowments </li><li>Life Riders (must be attached to a basic policy) </li><li>Mortgage Reducing Term Assurance (MRTA) / Decreasing Term Rider</li></ul><p>These policies must cover your outstanding housing loan up to the full term of loan or 65 years old, whichever is earlier, in the event of death, terminal illness or total permanent disability.</p><p>Your exemption from HPS may be revoked if we are notified by your insurer(s) that any of the insurance policies used for the exemption is discontinued or altered.</p><p>The Board would then extend an HPS cover to you based on the declared percentage that you were exempted for, subject to the Board’s terms and conditions. If you wish to be exempted from HPS again, you will need to approach your insurer to reapply for it.<br></p> | Home Protection Scheme | 1672 | 1672 |
| Apply | How do I apply to be covered under HPS? | <p>If you are taking a HDB loan, you can apply for HPS cover at the HDB office or any HDB branch office when you are applying to use your CPF for the monthly housing instalment.<br></p><p>If you are taking a bank loan, you
<strong>must first</strong> apply for HPS at
<em>my cpf</em> Online Services > My Requests > Home Protection Scheme (HPS) >
<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/ApplyOrAdjustHpsCover/ImportantNotes">Apply for/Adjust HPS Cover</a> (Ref: HPS/45)
<strong> before</strong> applying to withdraw your CPF savings for your monthly housing instalments via e-Housing.</p><p>If you are not making any CPF withdrawals for your HDB/bank loan but wish to be covered under HPS, you may do so online at
<em>my cpf</em> Online Services > My Requests > Home Protection Scheme (HPS) >
<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/ApplyOrAdjustHpsCover/ImportantNotes">Apply for/Adjust HPS Cover</a> (Ref: HPS/45). </p> | Home Protection Scheme | 1675 | 1675 |
| Apply | How do I apply to be exempted from HPS? | <p>Please approach the insurer(s) of your private insurance policies to submit your application to be exempted from HPS. We will only process applications submitted through insurers.</p><p>You will need to provide to your insurer(s) supporting documents showing your current* housing loan details, i.e. loan commencement date, balance loan amount, balance term of loan & the mortgage rate. These can generally be found on your housing loan statement.</p><p>*Within 6 months from the date the application for exemption is submitted.</p><p>You will get a full premium refund into your CPF Ordinary Account (OA) if the exemption application is received (by the CPF Board) and approved within one month from the issuance of the HPS cover. Otherwise, a pro-rated refund will be given to your OA upon the termination of your HPS cover.</p> | Home Protection Scheme | 1674 | 1674 |