careshield add-on benefit

[HelIoo]

do you think it is wise to auto enroll to the careshield add-on benefit for additional no more than 13% of your premium?

i received sms on this today. it is auto enroll and can opt out.

it just add-on benefit on this:
Singlife CareShield Standard
2ADL Add-on Benefit Coverage for Add-on Benefit
Monthly payout of up to 12 months when you are unable to perform 2ADLs

Singlife CareShield Plus
1ADL Add-on Benefit
Monthly payout of up to 12 months when you are unable to perform 1 ADL

ADL = Activities of Daily Living (Washing, toileting, walking or moving around, transferring, feeding, dressing)

 

[LocalRider]

I think serious case is usu at least 3 ADL.

do you think it is wise to auto enroll to the careshield add-on benefit for additional no more than 13% of your premium?

i received sms on this today. it is auto enroll and can opt out.

it just add-on benefit on this:
Singlife CareShield Standard
2ADL Add-on Benefit Coverage for Add-on Benefit
Monthly payout of up to 12 months when you are unable to perform 2ADLs

Singlife CareShield Plus
1ADL Add-on Benefit
Monthly payout of up to 12 months when you are unable to perform 1 ADL

ADL = Activities of Daily Living (Washing, toileting, walking or moving around, transferring, feeding, dressing)

 

[IcYFl4mEz]

Good discussion. was thinking of this, just pay max claimable using medisave, without any cash? go for the 1ADL, as accident etc will qualify.

 

[HelIoo]

Good discussion. was thinking of this, just pay max claimable using medisave, without any cash? go for the 1ADL, as accident etc will qualify.

When i bought, already max out. With the auto enroll add on benefit and increased gst, it is over then need to pay a bit by cash

 

[diequick]

Careshield is sort of like a "disability income". If you cannot work(based on the 1/2/3 ADLs), u get money to help on the 3 ADL. The payout is 649/mth in 2024. See qn 5731

Is the 13% extra premium to make it easier to get a payout and not to a higher payout, correct? $649 today, can just barely get a helper.

Should get the add-on? Up to individual. We will just focus on unable to do ADLs based on health, and not risky activities, freak accidents. I will consider the following.

Gender. For males if 3 ADL, probably < 10 years left already, i cant find the stats. Females, probably longer lifespan and more years in ill health, so might be betta.

Current age/health

Genetics - look at ur parents/grand parents, if they can still do ADL at life-expectancy minus 10, generally last 10 years is in poor health.

Any passive income? 4% returns on 195k is around 650 / mth.

 

[IcYFl4mEz]

When i bought, already max out. With the auto enroll add on benefit and increased gst, it is over then need to pay a bit by cash

good tip for this. i calculated for me at $59x/year for care shield plus, can get $1.2k payout additional monthly if 1ADL +. Since max claim for medisave is $600. that is below my one month medisave contributions . and as mentioned medisave cant really withdraw/spent all , why not?

 

[twinbaby]

do you think it is wise to auto enroll to the careshield add-on benefit for additional no more than 13% of your premium?

i received sms on this today. it is auto enroll and can opt out.

it just add-on benefit on this:
Singlife CareShield Standard
2ADL Add-on Benefit Coverage for Add-on Benefit
Monthly payout of up to 12 months when you are unable to perform 2ADLs

Singlife CareShield Plus
1ADL Add-on Benefit
Monthly payout of up to 12 months when you are unable to perform 1 ADL

ADL = Activities of Daily Living (Washing, toileting, walking or moving around, transferring, feeding, dressing)

Oh yes I actually I received this as well..
It's basically up to 12 months only, when unable to do 1ADL for an increase in premium

 

[footi3]

just get standard with max coverage without cash

 

[Godeau]

Always read the fine print, some/all of these plans have a waiting/deferment period where the payout will happen only after xx days and the person is still suffering from said disabilities. Whether it's worth getting or not depends on factors explained by other forumers above.

Usually, if the person kena any 2 adl(sometimes even 1), very high chance he/she is already immobile and would most likely be unable to do the other daily actions stated in the clause for qualifying payout..

 

[rizhal]

good tip for this. i calculated for me at $59x/year for care shield plus, can get $1.2k payout additional monthly if 1ADL +. Since max claim for medisave is $600. that is below my one month medisave contributions . and as mentioned medisave cant really withdraw/spent all , why not?

You have Medishield life premium to pay too. Will exceed the $600 limit.

 

[IcYFl4mEz]

You have Medishield life premium to pay too. Will exceed the $600 limit.

What I was told is the $600 is another separate limit from the basic one? then i tried myself in singlife web, cash payable is $0.

 

[jrwong84]

All this talk nonsense no use one no hard cash minimum 300k got what shield oso no use you all brainwash la.

 

[rizhal]

What I was told is the $600 is another separate limit from the basic one? then i tried myself in singlife web, cash payable is $0.

I am not sure too.

I am on normal Medishield life + Careshield life, don’t think I pay cash …. All from medisave.

 

[IcYFl4mEz]

I am not sure too.

I am on normal Medishield life + Careshield life, don’t think I pay cash …. All from medisave.

Yeah so the medisave $600 limit extra is for add-on private. not by the govt.
Am considering as no need to pay cash, and medisave honestly will never use finish and cant touch, so why not.