How can I apply for Home Protection Scheme exemption (HPS) using multiple private insurance policies from different insurers?
If you have multiple private insurance policies from different insurers and wish to apply for Home Protection Scheme exemption (HPS), you can use the HPS exemption calculator or approach your insurer to determine if one or more of your policies is needed to cover your outstanding housing loan. If one policy is sufficient, you can apply for HPS exemption using a single application.
However, if you require multiple policies from different insurers to cover your outstanding housing loan, you will need to submit an application for each insurer. Here is how you can go about it:
- Approach the respective insurers to submit your applications concurrently. Please submit one application for each insurer.
- Attach the relevant supporting documents which show your current* housing loan details i.e. loan commencement date, balance loan amount, balance term of loan and the mortgage rate. These can generally be found on your housing loan statement.
*Within six months from the date of application for exemption is submitted.
Once we receive your application(s) and the necessary documents from your insurers declared in your application forms, we will assess your eligibility for exemption from HPS and inform you of the outcome generally within five working days. Please note that your application would be rejected if we fail to receive all your applications from your insurers within seven calendar days from the date of receipt of the first application submitted by one of your insurers.
