HDB Mortgage Insurance, also known as Home Protection Scheme (HPS) is compulsory if you are using CPF monies for your HDB Flat. A waiver can be granted if you have alternative mortgage insurance provided by other private insurers. Mortgage Insurance for private property mortgage are not compulsory but comes highly recommended for you and your love ones in the event of unforeseen circumstances.
If you require assistance on this, our consultants are happy to point you in the right direction.