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Home Protection Scheme
General FAQs

Home Protection Scheme (HPS)

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How can I apply for Home Protection Scheme?

What type of insurance policies qualify for Home Protection Scheme?

When can I apply to be exempted from the Home Protection Scheme?

Am I covered under Home Protection Scheme if I terminate the policy/do not pay the premiums/make changes to the Sum Assured and Life Rider?

Is Nomination of Beneficiary allowed for a policy pledge under the Home Protection Scheme?

Can I apply for the Home Protection Scheme if my policy has been assigned or pledged as collateral or if I have an outstanding policy loan?

How will I be notified on the status of my Home Protection Scheme application?

How can I apply for Home Protection Scheme?

Please complete this form to submit your application. 

What type of insurance policies qualify for Home Protection Scheme?

The following insurance policies qualify for the Home Protection Scheme:
  • Whole Life
  • Level Term
  • Deceasing Term
  • Endowment
  • Life Rider (must be attached to a basic policy)
  • Mortgage Reducing Term Assurance

You may apply to be exempted from the Home Protection Scheme if your policy coverage is enough to cover your outstanding loan against Death, Terminal Illness and Total Permanent Disability until the end of your loan term or age 65, whichever is earlier.

When can I apply to be exempted from the Home Protection Scheme?

You may apply to be exempted from the Home Protection Scheme after you have obtained legal ownership of your Housing and Development Board flat.

Am I covered under Home Protection Scheme if I terminate the policy/do not pay the premiums/make changes to the Sum Assured and Life Rider?

Your exemption from the Home Protection Scheme (HPS) may be revoked if any of the insurance policies used for the exemption are discontinued or altered.

Subsequently, the Central Provident Fund (CPF) Board will extend you a HPS cover based on the declared percentage you are exempted for, subject to the CPF Board’s terms and conditions. If you wish to be exempted from HPS a second time, you will need to reapply.

Is Nomination of Beneficiary allowed for a policy pledge under the Home Protection Scheme?

No. Nomination of Beneficiary is not allowed for a policy pledge under the Home Protection Scheme.

Can I apply for the Home Protection Scheme if my policy has been assigned or pledged as collateral or if I have an outstanding policy loan?

No. You will not be able to apply for the Home Protection Scheme if your policy has been assigned or pledged as collateral, or if you have an outstanding policy loan.

How will I be notified on the status of my Home Protection Scheme application?

The Central Provident Fund Board will notify you on the status of your application for the Home Protection Scheme. 

 

For more information on Home Protection Scheme, please refer to below link.

https://www.cpf.gov.sg/member/home-ownership/protecting-against-losing-your-home

 

This webpage is published for information only and Singapore Life Ltd. accepts no liability whatsoever with respect to its use or its contents.

The information contained here is accurate as at 16 Aug 2022.

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