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Who will receive the claim benefits under the Home Protection Scheme?

When a claim is made under the Home Protection Scheme (HPS), the benefits will be paid to the Housing & Development Board or the mortgagee directly, to settle the outstanding housing loan, up to the insured sum.

If the claim is admitted under death ground, the HPS claim benefits will be paid in a lump sum. 

If the claim is admitted under medical ground, the member’s housing instalments (based on the share of HPS cover) may be paid by HPS for up to two years before a review of the member’s eligibility to claim the remaining insured sum in full is carried out.

If the HPS sum assured is more than the outstanding loan, the excess amount will be paid to the insured member’s CPF Ordinary Account.

You may find out more on what happens to the CPF savings for deceased members.