CPF Home Protection Scheme (HPS) 2026: Rules and Premiums

Hand holding house keys over model houses — HPS pays the HDB loan so the family keeps the flat. Photo: Jakub Żerdzicki on Unsplash

At a glance

What it is: Mortgage-reducing insurance run by CPF Board for HDB flats
Must have it: Owners who pay monthly HDB instalments with CPF savings
Ages covered: 21 to 65; cover ends at 65 or when the loan is paid
Pays out on: Death, terminal illness, total permanent disability
Premium: Level, yearly from your OA, for 90% of the cover period
Checked: 18 October 2026

The short answer

The Home Protection Scheme is a mortgage-reducing insurance run by CPF Board. If an insured owner dies, is diagnosed with a terminal illness or becomes totally and permanently disabled before the HDB flat is paid off, HPS pays the insured share of the outstanding loan, so the family keeps the flat. It is compulsory if you pay your monthly instalments with CPF. We checked the rules against CPF Board’s handbook and website on 18 October 2026. We are not an insurer or financial adviser, so check CPF’s terms and any private policy wording before you decide on cover.

Who must have HPS

You must be insured under HPS if you use CPF savings to pay the monthly instalments on your HDB flat. CPF Board’s handbook says owners who pay in cash can still apply, and CPF strongly encourages them to.

HPS covers CPF members aged 21 to 65. Cover starts once four things are in place: you have legal ownership of the flat, CPF has accepted your health declaration, the first premium is paid, and you have signed the loan documents. A medical examination may be needed.

Cover ends when any of these happens:

You sell the flat
The loan is fully paid
You reach 65, or the loan term ends, whichever is earlier
A premium is still unpaid after the grace period
CPF approves an exemption

If your flat is on a bank loan, check your HPS status with CPF directly. Dollars and Sense notes that bank-loan borrowers are not covered automatically and must apply through CPF’s website.

The exemptions

You can ask to be exempted if you already hold enough private cover. CPF’s exemption rules say your policies must:

Cover your share of the outstanding housing loan against death, terminal illness and total permanent disability
Last until the loan ends or you turn 65, whichever is earlier
Be one of: whole life, term life, endowment, a life rider on a basic policy, or a mortgage reducing term assurance or decreasing term rider (traditional or investment-linked)

You apply through CPF’s exemption calculator after you get legal ownership or refinance. It takes up to six policies. If you apply within one month of HPS cover being issued, CPF refunds the full premium to your Ordinary Account; after that, you get a pro-rated refund. An exemption can be withdrawn if you cancel or change those policies, and you must apply again if you refinance.

How cover is split between co-owners

The household’s shares of cover must add up to at least 100%, and each owner’s share should at least match the part of the monthly instalment they pay. CPF’s handbook uses this example:

Owner	Pays each month (CPF and cash)	Share of S$1,500 instalment	Minimum HPS share
Mr Tan	S$1,200	80%	80%
Mrs Tan	S$300	20%	20%

Each owner may take up to 100%, so a couple can insure 200% between them for a higher premium. If both are insured at 50% and one dies, HPS pays only 50% of the outstanding loan, and the survivor keeps paying the rest. Tell CPF when your shares change, for example after one owner stops working.

HPS premiums, with examples

HPS charges a level premium: the same amount each year for the whole term. CPF says it depends on five things: the outstanding loan, the repayment period, the loan type (HDB concessionary or market rate), your age and gender, and your share of cover. Bigger loans, longer terms and larger shares cost more. Younger members and women pay less.

You pay for 90% of the cover period only, deducted each year from your Ordinary Account. If your OA balance is short, you pay in cash or a co-owner can let CPF deduct from theirs.

CPF doesn’t publish a premium table. Its HPS premium calculator gives standard rates for a new application, and its results didn’t load when we checked on 18 October 2026. These are the published examples we could find:

Example	Loan	Term	Share	Annual premium	Source
Woman, 30, HDB concessionary loan	S$300,000	25 years	100%	About S$180, paid for 22 years	PropertyGuru, May 2023
Member aged 30 (gender not stated)	S$500,000	25 years	100%	About S$350, paid for about 22 years	SmartWealth, Jul 2026

Both are third-party illustrations. Run your own figures in CPF’s calculator, and our home insurance calculator for the home itself.

The claim events

HPS pays on three events, and only these:

Event	CPF’s definition
Death	Coroner’s report may be needed
Terminal illness	An illness likely to cause death within 12 months, certified by an accredited doctor
Total permanent disability	Permanently unable to work in any job, or total permanent loss of use of both eyes, two limbs, or one eye and one limb

CPF won’t pay a claim from self-inflicted injury or suicide, a criminal offence punishable by death, or your own intentional criminal act in the first policy year. It also won’t pay at any time if you weren’t in good health before cover began, gave false information, or the claim arises from war or riot.

HPS has no critical illness cover. PropertyGuru calls this a gap, and wanting critical illness cover is one reason owners seek an exemption with a private policy.

HPS vs private mortgage insurance

HPS is simple and paid from CPF. Private policies are paid in cash, and some add cover HPS doesn’t have.

	HPS	Private mortgage reducing term	Level term life
Run by	CPF Board	Insurers such as Manulife and Income	Most life insurers
Cover falls as loan falls	Yes	Yes, at a rate you pick	No, stays level
Critical illness	No	Optional rider on some plans	Optional rider on some plans
Moves with you to the next home	No	Yes, the policy is yours	Yes
Payout goes to	The housing loan	The policy’s beneficiaries	The policy’s beneficiaries
Paid with	CPF Ordinary Account	Cash	Cash

For scale, SmartWealth’s September 2026 quotes for a 30-year-old non-smoking man with S$1 million of death and TPD cover ran from S$514.10 a year (Singlife Elite Term II) to S$791.50 (Income Mortgage Term). That covers a much bigger loan than the HPS examples above. Our mortgage insurance guide compares the private options in detail, and the HDB loan vs bank loan guide explains how your loan choice affects this.

HPS protects the loan, and HDB fire insurance protects the structure. Neither covers your renovation or belongings, which is the job of home insurance.

Common questions

Is HPS compulsory?

Yes, if you use CPF savings to pay the monthly instalments on an HDB flat, unless CPF Board approves an exemption. Owners who pay in cash can still apply for HPS.

Can I be exempted from HPS?

Yes, if you hold private life or mortgage-reducing policies that cover your outstanding loan against death, terminal illness and total permanent disability until the loan ends or you turn 65, whichever is earlier. You apply using CPF's exemption calculator after you get legal ownership.

How much is the HPS premium?

It depends on your age, gender, loan amount, loan term, loan type and share of cover. CPF publishes a calculator rather than a table. Published examples include about S$180 a year for a 30-year-old woman with a S$300,000, 25-year HDB loan.

Does HPS cover critical illness?

No. HPS pays on death, terminal illness (expected to cause death within 12 months) and total permanent disability. Some private mortgage policies add critical illness cover as a rider.

What happens to HPS if I sell my flat?

Cover ends when you sell the flat or fully pay off the loan. HPS can't be moved to your next flat; you apply again for the new loan.

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Sources

Facts on this page were checked against these sources on 18 October 2026.