Can someone shed light?

Is this HPS from CPF "MANDATORY" when buying house? I am buying in resale market with Bank Loan and paying my monthly instalments from CPF. Somewhere in CPF website, I saw that when I am paying mortgage loan by monthly instalments from CPF, I MUST buy this HPS from CPF? Is that correct?

One of my fren told that insurance companies like AIA offer attractive plans which are more comfortable and provide higher coverage than HPS. In that case I can well go for ins companies than CPF.

Advices please

HPS yes if taking loan. And not necessary need to get from CPF, so if u like can go for other insurance com[any like AIA.

My understanding, for HPS, yes if you are using CPF to pay for your house.

HDB - HPS

CPF - HPS FAQs

Another thing that is compulsory when taking HDB loan is Fire Insurance.

HDB - Fire Insurance

It all depend on how much U need to pay for the HPS... your age... your loan amount and the period of loan..

Why U need to pay for the HPS is just in case the one who pay for the installatment pass away... there is $$ to pay for the house...

For my previous house... I need to pay $13k for $300k of housing loan... I felt that was a waste of $$$.. so I bought a policy of $300k to cover the loan amount...

If the HPS amount is very little... as I heard some of them only need to pay <$5k... then better get the HPS...

But the application for HPS can be rejected by CPF, like this can I don't buy HPS?

maybe if HPS kenna rejected by CPF, then cannot use CPF to pay loan?

maybe if HPS kenna rejected by CPF, then cannot use CPF to pay loan?

still paying using cpf.

then like this will affect other policies bought using cpf or not?

e.g. medisave etc...

is rejected or approved to be exempted?

i know if you can show that you are covered for the loan amt or more, can apply to be exempted from HPS

I understand that if we service our loan (be it bank loan or HDB loan - pls correct me if i am wrong) using CPF, we need to buy a Mortgage Protection Plan, either from CPF or outside insurance companies.

maybe if HPS kenna rejected by CPF, then cannot use CPF to pay loan?

Can anyone share under what circumstances would CPF reject HPS application?

Also, can anyone share with me usually, how long do CPF need to "approve" HPS application?

Thank you.

I understand that if we service our loan (be it bank loan or HDB loan - pls correct me if i am wrong) using CPF, we need to buy a Mortgage Protection Plan, either from CPF or outside insurance companies.

Can anyone share under what circumstances would CPF reject HPS application?

Also, can anyone share with me usually, how long do CPF need to "approve" HPS application?

Thank you.

but my hubby kena rejected and cpf advise me (the other party) to be 100% covered. So I don't know what protection I have since I'm paying and he's not.

then is your hubby paying the loan using CPF?

they will reject HPS application if you are not in good health

other than that dun think anything else

think my HPS will approved within a month

after a guy called me up to ask me many questions about all my hospital visits

then is your hubby paying the loan using CPF?

they will reject HPS application if you are not in good health

other than that dun think anything else

think my HPS will approved within a month

after a guy called me up to ask me many questions about all my hospital visits

CPF ask him go for checkup, except for high cholestrol but not on medication, all are well

But HPS kena rejected. But I tot most singaporean will also high this or high that esp due to the high stress level of living? Anyone with the same experience?

Yep. Using CPF to pay the loan, somemore he is young, so cpf contribution healthy.

hmm that's interesting

CPF never ask me go check-up leh

maybe you should ask your hubby to get a term life instead

if not anything happen will be very siong for you

maybe it's his age, if still young already high cholestrol

could be a sign of worse things to come

better ask your hubby to watch his diet

cos he ate too much seafood.

But not on medication, so on what basis to reject him correct?

Yar lor. Must get him to have term life.

actually hor, seafood doesn't contribute to cholestrol much

i have a friend who avoided seafood coz of high cholestrol

but his level still shoot through the roof loh

maybe you want to get your hubby go for a thorough check-up

some people's body just tend to produce excess cholestrol

no choice but it's considered a risk factor loh