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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