The HDB House Defense Plan (HPS) is a mandatory property finance loan-lowering coverage application administered from the CPF Board, made to protect HDB flat entrepreneurs and their people from dropping their home should really they come to be unable to company their housing bank loan as a result of death or a total permanent incapacity ahead of the age of 65. The scheme is Obligatory for flat owners who use their CPF cost savings to pay for his or her regular financial loan installments. HPS premiums are paid yearly from the policyholder's CPF Normal Account, Together with the Expense based on aspects such as age, gender, loan amount, and repayment period. The coverage's coverage total is pegged into the fantastic housing loan, and it decreases eventually because the personal loan is paid down. Proprietors who prefer to be exempted from HPS can make an application for a waiver by demonstrating they may have adequate protection website from other resources, like A non-public lifestyle insurance plan or an endowment policy.