Home Ownership

Termination of Home Protection Scheme cover

Apply to terminate your Home Protection Scheme cover.

You can apply to terminate your Home Protection Scheme (HPS) cover by completing this form.

Note that:

(i) Members are required to be covered under HPS if they wish to use CPF savings for their housing loan repayments. You may check whether you have an ongoing monthly housing deduction arrangement for your housing loan via your Home ownership dashboard. If you have an active arrangement to use CPF monies for the monthly instalment of your housing loan, please stop your CPF monthly housing deduction arrangement first. Learn more about how to stop your monthly deduction for your housing loan.

After being notified that your CPF monthly housing deduction arrangement has been stopped successfully (generally within three to five working days after application), you may submit your application to terminate your HPS cover. Alternatively, three to five working days after application, you may check your Home ownership dashboard to verify that your monthly housing deduction arrangement has been stopped successfully before applying to terminate your HPS cover.

(ii) You do not need to submit this form if you:

a. wish to apply to be exempted from HPS. Learn more about HPS exemption.

b. have recently fully redeemed your housing loan. For housing loans fully repaid using CPF savings, your HPS cover will be automatically terminated and the unused premium, if any, will be refunded to your CPF Ordinary Account. However, if you have used cash to fully repay your bank loan, please write to us to inform us of the full repayment. Learn more about termination of your HPS cover upon full redemption of your housing loan.

(iii) Should your co-owner(s) (if applicable) continue with HPS coverage, their total HPS share of cover must add up to at least 100% of the outstanding housing loan after the termination of your HPS cover.

Important notes

  • Your application will generally be processed within 5 working days.
  • You need to be covered under HPS again if you wish to use CPF savings for your monthly housing loan repayments in future, and that issuance of HPS cover is subject to your health condition at the point of application.

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