Home Ownership

Home Protection Scheme exemption calculator

Calculate if your private insurance coverage is sufficient to grant you an exemption from the Home Protection Scheme (HPS)  

HPS exemption can only be granted if your private insurance policies are enough to cover the outstanding housing loan of your HDB flat against death, terminal illness, and total permanent disability until the end of your loan duration or when you reach age 65, whichever is earlier.

The types of life insurance policies (both traditional and investment-linked) that are acceptable for HPS exemption are:

  • Whole Life
  • Term Life
  • Endowments
  • Life Riders (must be attached to a basic policy)
  • Mortgage Reducing Term Assurance (MRTA) / Decreasing Term Rider
Important notes  
  • All fields are mandatory unless otherwise indicated. 
  • For an accurate assessment, use this calculator after you have obtained legal ownership of the flat or refinanced your home loan.
  • You will need information about your housing loan and private insurance policies to proceed.
  • To assess if you are eligible for exemption, you may enter up to 6 private insurance policies for this calculation. If you have more than 6 policies, write to us to request an assessment by email.
  • If you are already insured under the Home Protection Scheme, you can log in to view your Home ownership dashboard for information on your share of cover.

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Home Protection Scheme exemption calculator
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Personal information

Let us know your age

Your date of birth helps us to determine whether your private insurance policies can provide the necessary coverage for you to be exempted from the scheme. The Home Protection Scheme covers members between the ages of 21 and 65.

HPS exemption is only applicable to members aged between 21 and 65.

Enter your housing loan details

This date should not be more than 6 months before today.

Loan duration
years

Enter a value from 1 to 40 years.

Tell us more about your private insurance policies

%
years

Enter a value from 1 to 99 years.

Your policy must provide terminal illness coverage until age 65 or the end of your loan duration, whichever is earlier.

years old

Your policy must provide terminal illness coverage until age 65 or the end of your loan duration, whichever is earlier.

Your policy must provide total permanent disability coverage until age 65 or the end of your loan duration, whichever is earlier.

years old

Your policy must provide total permanent disability coverage until age 65 or the end of your loan duration, whichever is earlier.

You can add up to %s% more private policies

Indicate the coverage you want to be exempted from HPS

Your coverage to be exempted should minimally match the proportion of the monthly housing instalment payable with your CPF savings and/or cash. Your private insurance policies must be sufficient to cover the proportion of housing loan you are paying for.
You added a joint life policy in "Private insurance policy information".

Joint life policy holders are required to apply for 100% coverage to be exempted.

%

See example of calculation

You have specified less than 100% for your coverage to be exempted

Ensure that there is sufficient insurance coverage for your housing loan. If you have co-owners, your combined insurance coverage should be equal to, or more than, the housing loan.

Do you wish to proceed with the calculation?

Coverage to be exempted

Example 1

You are financing the property with a co-owner

  • You and your co-owner have a monthly housing instalment of $1,500.

  • To finance the monthly housing instalment, you are using $1,000 from your CPF savings and $200 cash.

  • Your co-owner is using $300 from their CPF savings.

  • Your proportion of the housing loan would then be: $1,200 / $1,500 x 100% = 80%

  • Your co-owner’s proportion of the housing loan would be: $300 / $1,500 x 100% = 20%

  • Coverage to be exempted should minimally match the proportion of monthly housing instalment (e.g. 80% for yourself and 20% for your co-owner).

 

Example 2

You are the sole owner of the property

  • Your proportion of the housing loan would be 100%.

Results

Your private insurance policies provide you with sufficient coverage. You can apply for exemption from the Housing Protection Scheme through your private insurers.

This assessment is accurate as at {currentDate}

If you intend to use your CPF savings to pay the monthly housing instalment, you would have to apply for HPS first. You can then apply for HPS exemption after you have obtained legal ownership of the flat/completed the refinancing of your housing loan. This ensures that your monthly housing instalment arrangement will not be disrupted if the HPS exemption is not submitted and approved in time. If your HPS exemption is received and approved within one month from the issuance of your HPS cover, we will refund the full premium to your CPF Ordinary Account. Otherwise, a pro-rated premium refund will be made upon the termination of your HPS cover.

Resources

Home Protection Scheme

Protect yourself and your family from losing your HDB flat in the event of death, terminal illness or total permanent disability.​

Learn more
Results

Your private insurance coverage falls short by {maxShortfall}

This assessment is accurate as at {currentDate}

Your private insurance coverage is insufficient to cover your outstanding housing loan until age 65 or the end of your loan duration, whichever is earlier. Refer to the details below and reach out to your insurer to address the shortfall.

Results Details

Here are the reasons for the shortfall

Resources

Home Protection Scheme

Protect yourself and your family from losing your HDB flat in the event of death, terminal illness or total permanent disability.​

Learn more
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