The HDB House Defense Scheme (HPS) is a compulsory mortgage-decreasing insurance plan method administered from the CPF Board, created to safeguard HDB flat proprietors as well as their households from getting rid of their residence ought to they turn out to be not able to support their housing loan due to Loss of life or a complete long term disability ahead of the age of sixty five. The plan is Obligatory for flat proprietors who use their CPF savings to pay for their regular monthly loan installments. HPS rates are compensated each year with the policyholder's CPF Normal Account, Along with the cost based on things like age, gender, mortgage sum, and repayment time period. The plan's coverage volume is pegged to your superb housing bank loan, and it decreases after a while since the bank loan is compensated down. House owners who prefer to be exempted from HPS can here make an application for a waiver by demonstrating they have enough protection from other resources, including A personal daily life insurance policies or an endowment plan.