The HDB House Defense Scheme (HPS) is a compulsory home loan-lowering insurance plan method administered with the CPF Board, created to shield HDB flat entrepreneurs and their family members from losing their property must they come to be not able to service their housing financial loan resulting from Dying or a total permanent disability prior to the age of sixty five. The scheme is compulsory for flat entrepreneurs who use their CPF cost savings to pay for their every month personal loan installments. HPS premiums are compensated every year from the policyholder's CPF Common Account, While using the Expense based on factors for example age, gender, here personal loan quantity, and repayment time period. The coverage's coverage volume is pegged into the excellent housing bank loan, and it decreases eventually as the bank loan is paid out down. Homeowners who desire to be exempted from HPS can make an application for a waiver by demonstrating they've got adequate protection from other sources, including a private life coverage or an endowment policy.