in
Do I need to be insured under Home Protection Scheme?
cpf
Source: https://www.cpf.gov.sg/memberIt depends on whether you are using CPF savings or cash to service your monthly housing instalments.
- For members who are using CPF savings to service their monthly housing instalments
You need to be insured under HPS and your eligibility for HPS coverage is subject to approval and you being in good health.
If you are not eligible for an HPS cover due to serious pre-existing medical condition, you may still use your CPF savings to pay your monthly housing instalment.
- For members who are using cash to service their monthly housing instalments
You are strongly encouraged to apply for an HPS cover if you are an owner of the flat and do not have adequate financial protection for your share of outstanding housing loan.
Your eligibility for HPS coverage is subject to approval and you being in good health.
This information provided here is sourced from the CPF website.
Let other citizens know if this answer was helpful
Did this answer your question?Related Questions
What share of the Home Protection Scheme cover should I apply for?
from CPFHow do I apply to be insured under the Home Protection Scheme?
from CPFWhat will happen if I am not eligible for a Home Protection Scheme cover?
from CPFWhat can I do if I do not want to be insured under the Home Protection Scheme?
from CPF
Can’t find what you’re looking for?