Скачать или смотреть Home Protection Scheme (HPS) and Term Insurance Case Study - Tips for HDB Buyers

HPS is a mortgage-reducing insurance that protects you and your loved ones from losing your (HDB) flat in the event of death, terminal illness, or total permanent disability.

A little known fact, is that you can apply for HPS exemption if you have Term Life and other eligible insurance policies that can cover your outstanding housing loan up to the full term of loan or until you turn 65, whichever is earlier.

In a 2006 statistics study, out of 677,500 household heads, about 52% shifted houses between 1995~2005.

You would have to pay for a new HPS at your prevailing age when you buy and move to a new property.

Term Insurance may make more sense for you if you may move at least twice in your lifetime.

Do check in with your financial advisors for more information about mortgage insurance and what options you can consider.

If you have more questions, do drop me a whatsapp and I could introduce you to one of our trusted advisors.

Disclaimer: The content is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial circumstances.

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Reference: https://www.singstat.gov.sg/-/media/f...

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