Rates and thresholds change. The current figures are kept in one place: the Singapore property rules reference.
What does HPS cover?
HPS is for CPF members who own an HDB flat and are paying the monthly housing instalments with CPF savings or cash. In the event of death, terminal illness or total permanent disability, HPS settles the outstanding housing loan, up to the insured sum, directly with HDB or the lender. Premiums are paid annually and deducted automatically from your CPF Ordinary Account.
Cover runs until you turn 65 or until the housing loan is paid up, whichever comes first. If your loan will run past 65, CPF Board suggests considering private insurance for the years after HPS ends.
When is it required, and when is it optional?
| Situation | HPS position |
|---|---|
| HDB flat, instalments paid with CPF savings | HPS is required |
| HDB flat, instalments paid in cash | Not required, but CPF Board strongly encourages you to apply |
| Executive condominium or other private property | HPS does not cover it, so consider private insurance |
| You are not eligible for cover because of your health | You can still use CPF savings to pay the instalments |
Eligibility for cover is subject to approval and good health. You may be asked to undergo a medical examination, and CPF Board may request a report from your doctor. Cover issued on false or misleading health declarations can be voided at any time, and claims denied without refund of premiums.
How the share of cover works for two owners
Each owner chooses a share of cover. Your share should at least match the proportion of the monthly instalment that is paid with your CPF savings or cash, and the total share across the household should add up to at least 100%. Each owner may insure for more, up to 100%, which raises the annual premium taken from the Ordinary Account.
Illustration: a couple pays an instalment of $1,500 a month, with $900 (60%) from one owner and $600 (40%) from the other. At a minimum they would take 60% and 40% shares. If a claim arises, HPS settles the outstanding loan up to the insured sum for the share applied. On an outstanding loan of $300,000, a 60% share corresponds to $180,000. The figures are invented to show the arithmetic, and CPF Board's HPS premium calculator gives the actual premium.
What can end or lapse the cover?
- Cover lapses if you fall behind on premium payments. You would need to apply again, subject to your health at that time.
- HPS ends when you sell your HDB flat, fully repay the loan, or have a new HPS cover issued for a new flat.
- If you fully repay a bank loan with cash, HPS is not terminated automatically and you must write to CPF Board to end it. If you repay with CPF savings, or repay an HDB loan, it ends automatically.
Sources and references
Official sources, checked on 3 November 2026.
- CPF Board, Home Protection Scheme
- CPF Board, Using your CPF to buy a property under the Housing Scheme
Frequently asked questions
Is HPS compulsory if I pay my HDB loan in cash?
No. CPF Board says HPS is required if you use CPF savings for the monthly instalments. If you use cash, CPF Board strongly encourages you to apply.
Does HPS cover an executive condominium or condo?
No. CPF Board says HPS does not cover private residential properties such as executive condominiums, and suggests private insurance for a private property loan.
Until what age does HPS cover me?
Until you turn 65 or until your housing loan is paid up. If the loan runs past 65, CPF Board suggests considering private insurance.
What if I am not healthy enough to get HPS cover?
You can still use your CPF savings to pay the monthly housing instalments. Cover itself is subject to approval and good health.
Does HPS end when I sell my flat?
Yes. CPF Board says cover is terminated when you sell your HDB flat, fully repay the housing loan, or have a new HPS cover issued for your new flat.
Not sure how your mortgage cover fits together?
Winfred can point you to the right official channels and talk through how HPS, private cover and your loan structure relate.
Book a free 30 minute strategy call WhatsApp WinfredWinfred Quek is an Associate Marketing Consultant at Crestbrick Pte Ltd (CEA Licence No. L3010886H). CEA R073319H. This page is for general information only and does not constitute financial, investment, or legal advice. Verify current figures with IRAS, HDB, CPF Board or MAS before making any decision.