What happens after I have terminated my Home Protection Scheme cover?
You will get a full premium refund to your Ordinary Account (OA) if the termination application is received within one month from the issuance of your Home Protection Scheme (HPS) cover. Otherwise, any unused premium will be refunded back to your OA upon the termination of your HPS cover.
The monthly servicing of your housing loan instalments via CPF savings (if any) will cease upon the termination of your HPS cover.
This information is sourced from CPF
Related questions
If I am currently insured under the Home Protection Scheme (HPS), how much premium refund will I get if my application to be exempted from HPS is approved?
Do I need to inform the Board to terminate my Home Protection Scheme cover if I have fully repaid my loan?
What will happen to my Home Protection Scheme cover if I sell my flat, fully repay my loan or buy a new flat?
What can I do if I do not want to be insured under the Home Protection Scheme?
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