The HDB Dwelling Safety Scheme (HPS) is a mandatory home finance loan-reducing coverage program administered through the CPF Board, intended to guard HDB flat house owners and their people from shedding their residence must they turn into struggling to services their housing financial loan on account of Dying or a total long-lasting disability before the age of 65. The scheme is Obligatory for flat owners who use their CPF price savings to pay for for his or her regular monthly loan installments. HPS premiums are paid every year from the policyholder's CPF Regular Account, While using the Price determined by aspects for instance age, gender, personal loan amount, and repayment period of time. The policy's protection amount of money is pegged to the excellent housing mortgage, and it decreases with time since the mortgage is compensated down. House owners who would like to be exempted from HPS can apply for a waiver by demonstrating they have enough protection from other sources, which get more info include A non-public everyday living coverage or an endowment policy.