The HDB Dwelling Safety Scheme (HPS) is a mandatory home finance loan-lowering insurance system administered because of the CPF Board, meant to protect HDB flat owners as well as their households from getting rid of their dwelling should really they come to be not able to services their housing personal loan resulting from Dying or a complete long lasting incapacity ahead of the age of sixty five. The plan is Obligatory for flat proprietors who use their CPF discounts to pay for for his or her month-to-month bank loan installments. read more HPS rates are paid out on a yearly basis through the policyholder's CPF Everyday Account, Together with the Charge based on components for example age, gender, financial loan total, and repayment period of time. The policy's protection amount of money is pegged towards the excellent housing personal loan, and it decreases over time as the personal loan is compensated down. Proprietors who need to be exempted from HPS can submit an application for a waiver by demonstrating they've got sufficient protection from other resources, for example A personal life insurance policies or an endowment plan.