Can I apply to be partially exempted from the Home Protection Scheme?
You cannot be exempted from the Home Protection Scheme (HPS) and insured under HPS at the same time. However, you may apply to be 50% exempted from HPS while your co-owner applies for a 50% HPS share of cover.
The total share of coverage for all co-owners must add up to at least 100% of the outstanding housing loan.
You are encouraged to be insured under your private insurance based on your share of responsibility to service your housing loan. This will ensure that you have sufficient coverage to settle your share of outstanding housing loan in the event of a claim.
This information is sourced from CPF
Related questions
Can I apply to be exempted from the Home Protection Scheme for my new flat with the private insurance policy that was previously used for my old flat?
Why should my share of Home Protection Scheme cover minimally match my share of responsibility to service the housing loan?
If my co-owner and I are both insured under the Home Protection Scheme (HPS) for 75% each, what will happen after my co-owner has claimed the HPS benefits?
My co-owner and I each applied for 50% Home Protection Scheme (HPS) coverage. What should I do if my co-owner's HPS cover is rejected due to health reasons?
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