Insurance
Questions About CPF Home Protection Scheme (HPS)
By Investment Stab  •  June 12, 2020
  Here are the answers to some common questions that people have on the CPF Home Protection Scheme (HPS).
1. Can I be exempted from paying the HPS?
If you have an insurance policy that is enough to cover your outstanding housing loan up to the full term of loan or age 65, you can apply for exemption from HPS. You may apply to be exempted online via my CPF Online Services. You will get a full premium refund into your CPF Ordinary Account (OA) if the exemption application is received and approved by the Board within one month from the issuance of the HPS cover. Otherwise, a pro-rated refund will be given to your CPF OA upon the termination of your HPS cover. The types of insurance policies, both conventional and investment-linked, that are acceptable are: a) Whole Life b) Term Life c) Endowments d) Life Riders (must be attached to a basic policy)
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By Investment Stab
We are a group of Singaporean students who are curious and interested in Finance. As we dive deeper into this area in search of more knowledge, the more debates and differences we have. We also realised that financial literacy is not strongly inculcated in the younger generations, leading to numerous costly mistakes. Some of such includes believing in "high profiting" scams such as land banking and buying unnecessary investment schemes which are often motivated by the salesperson's personal interest ...
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One response to “Questions About CPF Home Protection Scheme (HPS)”

  1. rainmakers says:

    It will be helpful to share the coverage and payout terms and conditions for HPS apart from ways of exemption including the choice of the coverage amount.

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