The HDB Dwelling Defense Scheme (HPS) is a compulsory property finance loan-decreasing insurance coverage application administered by the CPF Board, created to shield HDB flat entrepreneurs and their family members from getting rid of their property ought to they come to be unable to company their housing mortgage as a consequence of death or a total everlasting incapacity prior to the age of 65. The scheme is compulsory for flat homeowners who use their CPF price here savings to pay for for their regular personal loan installments. HPS rates are paid out every year within the policyholder's CPF Normal Account, Using the cost based on aspects for instance age, gender, personal loan amount of money, and repayment interval. The policy's coverage sum is pegged to your fantastic housing bank loan, and it decreases with time because the personal loan is compensated down. House owners who desire to be exempted from HPS can make an application for a waiver by demonstrating they have enough protection from other resources, including A non-public everyday living coverage or an endowment policy.