The HDB Property Protection Plan (HPS) is a compulsory home loan-minimizing insurance coverage system administered because of the CPF Board, designed to shield HDB flat owners as well as their families from shedding their property need to they develop into unable to company their housing financial loan on account of death or a total lasting disability before the age of 65. The scheme is compulsory for flat proprietors who use their CPF discounts to pay for for his or her month to month personal loan installments. HPS premiums are compensated yearly within the policyholder's CPF Common Account, Together with the Price tag determined by components such as age, gender, mortgage quantity, and repayment interval. The coverage's coverage sum is pegged on the remarkable housing financial loan, and it decreases after some time given that the personal loan is paid out down. here Proprietors who want to be exempted from HPS can submit an application for a waiver by demonstrating they have got adequate protection from other resources, for instance a private everyday living coverage or an endowment policy.