Home Protection Scheme Exemption Application
This file contains the application form for the Home Protection Scheme exemption. It outlines eligibility criteria, required insurance policies, and important terms and conditions. Use this form to apply for exemption from mandatory coverage if you have sufficient private insurance.
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How do I fill this out?
Filling out this form requires accurate information regarding your insurance policies and housing loan. Begin by ensuring you have all required documents at hand. Follow the prompts carefully to avoid errors and ensure a smooth application process.
How to fill out the Home Protection Scheme Exemption Application?
1
Gather all necessary documents, including your insurance policy details.
2
Fill in your personal information accurately as per your NRIC or passport.
3
Provide the details of the property for which you are seeking exemption.
4
Choose the appropriate application type based on your insurer.
5
Review your application thoroughly before submission.
Who needs the Home Protection Scheme Exemption Application?
1
HDB flat owners seeking insurance alternatives to HPS.
2
Individuals with private insurance wanting to reduce costs.
3
Homeowners refinancing their mortgages needing exemption.
4
Policyholders of the specified insurance looking for compliance.
5
CPF members who want clarity on their housing loan coverage.
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What are the instructions for submitting this form?
To submit the form, you can either send it via email to Customer.Service@sg.cntaiping.com or mail it to 3 Anson Road, #16-00, Springleaf Tower, Singapore 079909. Ensure that your submission is made within 30 days from the date of signing. For efficiency, double-check that the email used for submission matches the one registered with China Taiping Insurance.
What are the important dates for this form in 2024 and 2025?
Important dates related to this form include the annual deadline for submitting exemption applications. Ensure your applications are in before any stipulated cut-off dates set by the CPF Board. Regular updates on dates will be provided on the official CPF website.
What is the purpose of this form?
The purpose of this form is to allow homeowners to seek exemption from the Home Protection Scheme (HPS) by demonstrating sufficient insurance coverage. This helps reduce the financial burden associated with mandatory policies for individuals who already have adequate life insurance in place. By applying for this exemption, policyholders can ensure that their housing loans are sufficiently covered while managing costs effectively.
Tell me about this form and its components and fields line-by-line.
- 1. Policy Information: Details about the insurance policies you intend to use for HPS exemption.
- 2. Application Type: Indicates whether you're relying on a single insurer or multiple insurers.
- 3. Details of Property: Information regarding the property for which the exemption is being sought.
- 4. Declaration and Authorization: Statements that confirm the accuracy of the information provided.
- 5. Consent to Privacy Policy: Agreement to the collection and use of personal data.
What happens if I fail to submit this form?
If you fail to submit this form, you may remain obligated to the Home Protection Scheme. This would result in continued costs associated with HPS, potentially affecting your financial planning. It's crucial to ensure timely and accurate submissions to avoid these issues.
- Financial Obligations: Failure to submit could mean you must continually pay for HPS coverage.
- Insurance Compliance: Not submitting could leave you non-compliant with CPF requirements.
- Property Risk: Without proper coverage, you risk losing your property in adverse situations.
How do I know when to use this form?
- 1. Refinancing your mortgage: Apply for exemption if you are refinancing and have new insurance coverage ready.
- 2. Transitioning between policies: Use this form when switching insurance policies and needing HPS exemption.
- 3. Changing property ownership: New owners wanting exemption under their own insurance should apply using this form.
Frequently Asked Questions
What is the purpose of this form?
This form is used to apply for exemption from the Home Protection Scheme if you have sufficient private insurance to cover your housing loan.
Who can apply for the HPS exemption?
Any policyholder of qualifying insurance policies who is also a CPF member can apply.
How soon can I submit this form?
You should submit this form as soon as you have confirmed your insurance eligibility and gathered all necessary information.
What happens after submission?
Your application will be assessed, and you will receive confirmation or further instructions.
Can I edit this form after submission?
No, once submitted, your form cannot be edited; you would need to submit a new application.
Where should I send my completed form?
You can submit the form via email or by mailing it to the specified address.
Is there a deadline for application?
It's best to apply before your HPS coverage begins to ensure compliance.
What documents do I need to attach?
You should attach your latest housing loan statement and insurance policy documents.
Can I apply if my insurance is not from China Taiping?
Yes, as long as the insurance fulfills the set criteria for exemption.
How can I check the status of my application?
Contact China Taiping Insurance for updates on your application status.
