The HDB Property Security Plan (HPS) is a compulsory mortgage-lowering coverage application administered by the CPF Board, designed to secure HDB flat entrepreneurs and their people from losing their home really should they develop into struggling to provider their housing mortgage due to Loss of life or a complete everlasting incapacity ahead of the age of sixty five. The plan is Obligatory for flat entrepreneurs who use their CPF personal savings to pay for his or her regular bank loan installments. HPS premiums are paid out each year from the policyholder's CPF Standard Account, Together with the Expense based on factors which include age, gender, mortgage total, and repayment period of time. more info The coverage's coverage quantity is pegged to the remarkable housing financial loan, and it decreases eventually given that the personal loan is paid out down. Homeowners who desire to be exempted from HPS can submit an application for a waiver by demonstrating they have got sufficient coverage from other resources, like A non-public lifetime insurance or an endowment plan.