To apply for a Housing and Development Affordable Housing Insurance (HDB), there are a few things a Singaporean should know. Since January 1, 2007, all potential buyers or transferees who wish to obtain this insurance will first need to obtain a letter of HLE (HDB Insurance Eligibility).
Beside Eligibility Conditions and HLE Conditions (HDB Insurance Eligibility), there are several documents which Applicant/Occupant must submit to HDB before filling the online form, HDB accepts online applications only. In order to apply, the prospective buyer can use any computers connected to the internet at the HDB branch or the self-service kiosk of the HDB Hub.
The documents required for consideration of the application are as follows:
- IDs (identity cards), passports or visitor passes owned by the applicants/residents;
- proof of income required;
- Information (name and address) of employers of applicants or incumbents;
- Information (name and address) about the last employer of applicants or occupants who have been unemployed for less than three months;
- Ownership of private residential real estate (details);
- Number of SCB soft insurances (insurances) received by applicants / former residents;
- history and details of financial commitments (renewal insurance, car insurance, etc.);
- History of cash proceeds obtained by disposal of last HDB apartments owned by applicants and residents or spouses/fiancé/fiancé of applicants and their occupants, if any.
When submitting an application for the first time, an application with a family, or a different purpose than the last application, the application form contains seven steps that can be accessed after clicking “Submit New Application”.
The above steps are: “Help”, “Getting Started” (after logging in to SingPass), “Questionnaire” (helping determine user eligibility for HDB Franchise Insurance), “Application Details” (Personal and Financial Information of the Applicant/Resident, Such as plus details of the last HDB apartments owned, if any), “Review and Submit”, “Provide supporting documents”, “Acknowledgment of receipt.”
The application is considered complete only after complete submission of electronic signatures using SingPass and after complete and detailed supporting documents are attached. It is important that these documents are verified and accurate. In the event that the additional documents required by HDB Bank are not submitted after the submission of the HLE application, the latter may be cancelled. Should additional information be required in order to assess eligibility for the insurance, HDB may assign applicants for an interview to discuss further details.
The validity of the HLE letter is six months from the date of issue. No reassessment is required within the six-month period if buyers and passengers do not change.