The HDB Property Security Plan (HPS) is a compulsory property finance loan-reducing insurance coverage software administered via the CPF Board, designed to secure HDB flat homeowners as well as their people from shedding their residence should they develop into struggling to services their housing bank loan as a consequence of death or a complete long-lasting incapacity before the age of 65. The plan is Obligatory for flat owners who use their CPF discounts to pay for for his or her regular monthly loan installments. HPS premiums are paid per year from your policyholder's CPF Everyday Account, with the cost determined by factors for example age, gender, financial loan amount, and repayment period. The coverage's coverage quantity is pegged into the outstanding housing financial loan, and it decreases over time since the financial loan is compensated down. Owners who need to be exempted here from HPS can submit an application for a waiver by demonstrating they have ample protection from other sources, for example A non-public daily life coverage or an endowment coverage.