Apply for exemption from HPS

If you are using CPF to pay for your HDB flat, you may apply for a Home Protection Scheme (HPS) exemption. To qualify for this exemption, your insurance policies must be sufficient to cover your outstanding HDB housing loan in the event of death, terminal illness or total permanent disability.

They must be in-force up to the full term of the loan or the applicant turning age 65, whichever is earlier.

The sum assured of the policy must be sufficient to cover the full housing loan.

You need to be the legal owner of the property, or receive the disbursement for the housing loan.

The policies must be priced in Singapore dollar.

The qualifying policies must not depend on the applicant’s employment or membership status.

 

Policies that qualify for HPS exemption

Only the following types of insurance policies qualify for HPS exemption:

  • Whole life policies
  • Term life policies 
  • Endowment policies
  • Life riders attached to a policy
  • Mortgage Reducing Term Assurance (MRTA) policies
  • Decreasing term policies

 

How to apply for HPS exemption

Online

    How to apply for HPS exemption

  • Online
  • Customer Service Centre

Questions and Answers

Those who are the owner and life assured of the below policies:

  • Whole life policies
  • Term life policies 
  • Endowment policies
  • Life riders attached to a policy
  • Mortgage Reducing Term Assurance (MRTA) policies
  • Decreasing term policies

The qualifying policies must cover total permanent disability, terminal illness, and death.

If the owner and co-owner of the property use their joint-life policy to apply for HPS exemption, both parties must be the owners and life-insureds of their joint-life policy. 

If you hold private insurance policies with more than one insurer and you wish to apply for an exemption from the HPS, the submissions by the first and last insurer to CPF must not be more than 2 weeks apart. As such, we recommend that you apply to the insurers at the same time.

Each person who wishes to apply for exemption must submit separate applications.

CPF will inform you of your application success by email. If your application is rejected, you will receive a letter from us.

Here are some policies that are not eligible:

  • Policies that are assigned or pledged as collateral
  • Policies under section 73 of the Conveyancing Law And Property Act (Cap. 61) or under any irrevocable nomination/trust arrangement
  • Policies with loans attached
  • Group policies that are not portable
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