The HDB Dwelling Security Plan (HPS) is a compulsory home finance loan-lessening insurance program administered by the CPF Board, meant to guard HDB flat house owners and their people from shedding their residence should they become not able to services their housing loan resulting from Loss of life or a complete everlasting incapacity prior to the age of sixty five. The scheme is Obligatory for flat owners who use their CPF discounts to pay for their monthly bank loan installments. HPS rates are paid per year in the policyholder's CPF Standard Account, With all the Charge determined by aspects which include age, here gender, mortgage total, and repayment period. The policy's coverage total is pegged to the exceptional housing loan, and it decreases with time as being the loan is paid down. Proprietors who would like to be exempted from HPS can submit an application for a waiver by demonstrating they may have sufficient coverage from other sources, like a private existence insurance plan or an endowment plan.