The HDB Dwelling Defense Scheme (HPS) is a mandatory mortgage loan-reducing coverage software administered by the CPF Board, built to protect HDB flat homeowners and their families from getting rid of their dwelling ought to they turn out to be struggling to assistance their housing financial loan as a consequence of Demise or a total permanent incapacity before the age of 65. The plan is compulsory for flat entrepreneurs who use their CPF price savings to pay for his or her regular monthly mortgage installments. HPS rates are paid every year from the policyholder's CPF Standard Account, Together with the Price based on factors for instance age, gender, mortgage total, and repayment period. The policy's coverage amount of money is pegged on the excellent housing bank loan, and it decreases over time since the financial loan is paid out down. House owners who need to be exempted from HPS can make an application for a waiver by demonstrating they have adequate coverage from other sources, for instance click here a private existence insurance policies or an endowment policy.