Singapore legislation
Regulation 8
of Central Provident Fund (Home Protection Insurance Scheme) Regulations 2024
Regulation 8
Period of AP cover
Subregulation 1
The first policy period of an AP cover runs for 12 months starting —
where the Board deducts or accepts the first premium for the AP cover on the date the first premium is payable under regulation 12 (called in this regulation the first date) — on the first date; or
if the Board deducts or accepts the first premium for the AP cover after the first date — a date (on or after the first date) specified by the Board.
Subregulation 2
Where the Board deducts or accepts the annual premium for a subsequent policy year, the AP cover is renewed and continues for 12 months from the expiry of the previous policy year.
Subregulation 3
Despite regulation 15, if the policy year of a Scheme member’s AP cover in which the Scheme member attains 65 years of age ends before the date of the full redemption of the housing loan or the date of the full discharge of the mortgage of the property (as the case may be), the Scheme member’s AP cover ceases at the end of that policy year.