When we talk about insurance, the Home Protection Scheme is one that is easily overlooked.
Especially for couples and young families with new BTO flats, this is a scheme you should know of, as it serves as an added safety net, in case of unexpected events such as accidents or death.
Administered by the Central Provident Fund (CPF) Board, the Home Protection Scheme is compulsory for Singaporeans who pay their monthly home loan repayments via their CPF!
What Is The Home Protection Scheme?The Home Protection Scheme (HPS) is a mortgage-reducing term insurance that protects you and your family should you die or suffer a total permanent disability before the housing loan is fully paid. This means that in an event where something unexpected happens to you, your outstanding home loan will be paid for under the HPS.
Do I Need To Be Insured Under HPS?...
