The HDB Property Safety Plan (HPS) is a mandatory home loan-lessening coverage system administered because of the CPF Board, built to defend HDB flat homeowners and their people from dropping their home should really they develop into not able to service their housing personal loan resulting from death or a complete long lasting incapacity before the age of sixty five. The scheme is compulsory for flat owners who use their CPF discounts to pay for their monthly bank loan installments. HPS rates are paid per year from check here your policyholder's CPF Everyday Account, Together with the cost determined by components like age, gender, personal loan quantity, and repayment period of time. The plan's protection sum is pegged to your outstanding housing mortgage, and it decreases after some time as the mortgage is paid out down. House owners who need to be exempted from HPS can apply for a waiver by demonstrating they've adequate coverage from other sources, for example A personal everyday living insurance or an endowment policy.