Is it worth taking up Careshield Life? Annual premium rose by almost 2 times !

[seanyboydad]

a stroke can easily put you in the category for claim.....


relax dude.... take it easy.

 

[standarture]

if u bbfa, and lose 3, how to claim? You better make sure you have at least one close friend first. No point being a bbfa and buy so much insurance.

 

[magna_strike]

Don't bother. But for sinkies I thought is compulsory?

 

[bigrooster]

MOH just sent me a letter and invites me to join CareShield Life. I straight away tears up the letter and throw it into the rubbish bin. Haha

Received it yesterday. Did the same thing as you.

 

[PrinceY]

MOH just sent me a letter and invites me to join CareShield Life. I straight away tears up the letter and throw it into the rubbish bin. Haha

If only my parents were like u..

They received too, but saw the chicken wings and true sinkie genes activated liao (some discount or offset premium, can’t rmb exactly)

 

[semiret]

If only my parents were like u..

They received too, but saw the chicken wings and true sinkie genes activated liao (some discount or offset premium, can’t rmb exactly)

I did briefly read about it for fun see how it's going to bait sinkies? When it comes toward the premium table I saw it after simi discount needs to pay 9XX+ for that stupid policy. That's it I stopped reading it and tears it up. Haha

 

[inmyopinion]

Saw an "invite" from CPF to sign-up Careshield Life.

Premium rose substantially. Mainly due to so-called better payout but essentially pooling with high-risk, low ses.

Heard it is not easy to be certified 3ADL difficulty to submit for payout.

If so, is Careshield Life worth it?

Details:
https://www.heartlandboy.com/replace-eldershield-careshield-life/

 

[AlmightyOnes]

My mum recieved, and she gong gong wanted it... wah lau 2k+ annually. U retired where got so much $ for such bs... then later she signed up le think again... now going opt out after the 1 year up.

 

[maxmike]

Don't bother. But for sinkies I thought is compulsory?

For people over 55 years old is optional. Because they just introduced the policy.

 

[Extech]

Insurance is all about risk pooling. If you lead an unhealthy lifestyle and have the 3 highs, then suggest you get it.

 

[m0n0n0ke]

pappy and insurance 'work hard' tgt...

 

[windwaver]

It'll be so straight forward if anybody can choose to die when quality of life gets so bad that it's worse than death but can't do it.

 

[lalalalalala]

all protection insurances are zero-sum game. the premium u paid are being used to pay for those who claim...

so u have to decide if u want to take the risk of no coverage lor... no right or wrong...

Should be negative sum right? There is outflow to the company costs etc. so the question is how much is cpf profiting from the premium increase

 

[Mephist0pheLes]

MOH just sent me a letter and invites me to join CareShield Life. I straight away tears up the letter and throw it into the rubbish bin. Haha

u might think differently if u kena disability next time.

My FIL 60+ only jus got hospitalised for stroke. likely will lose ability to do most of ADL. i dont think he is covered under careshield life, so now cannot work anymore, and likely will have to fork out extra money every month to hire helper.

 

[Mephist0pheLes]

Should be negative sum right? There is outflow to the company costs etc. so the question is how much is cpf profiting from the premium increase

dont think cpf profit from it, plus they have the biggest economies of scale in Singapore. that's y there's no annuity plan by private insurers can even come close to match the payout of cpf life.

 

[semiret]

u might think differently if u kena disability next time.

My FIL 60+ only jus got hospitalised for stroke. likely will lose ability to do most of ADL. i dont think he is covered under careshield life, so now cannot work anymore, and likely will have to fork out extra money every month to hire helper.

Even if you're insured that kind payout of 6XX. It doesn't help much. Like what others said if living in such state. I can only associates it as torture. Not only to the patient but also family members. Just my thought.

 

[TitanSmall]

Even if you're insured that kind payout of 6XX. It doesn't help much. Like what others said if living in such state. I can only associates it as torture. Not only to the patient but also family members. Just my thought.

it doesnt help but still help. anyway to each his own.. some pple think insurance is a waste of money anyway.....

 

[CutieNiniMeow]

if u bbfa, and lose 3, how to claim? You better make sure you have at least one close friend first. No point being a bbfa and buy so much insurance.

Can ownself claim

 

[crimsontactics]

Saw an "invite" from CPF to sign-up Careshield Life.

Premium rose substantially. Mainly due to so-called better payout but essentially pooling with high-risk, low ses.

Heard it is not easy to be certified 3ADL difficulty to submit for payout.

If so, is Careshield Life worth it?

No lah Bro Lemonpeach!

Not worth!

 

[fire]

Honestly damn hard to be certified 3ADL. If you really certified 3ADL, will live for how long? 10 years?

Every month give you $1k, 10 years you only collected $120k. Better pump into term insurance get one lump sum.

It's not that hard if you really have difficulty in those areas, managed to get certified for both parents.

Only thing as you mentioned, once it happened, very likely the remaining period to draw is very short.