Careshield Life Supplement

[MaxZ123]

With the CareShield Life that just came out, it is also time for insurance company to cash in on this. So far there are 3 insurance companies offering Careshield Life Supplement, (Aviva, Income and great Eastern) but I was wondering how worth it is it for us to purchase the supplement.

I think the idea behind this scheme is not bad as being severly disabled, we really need large sum of money to get by. However, we already have so many types of insurance that we have to pay for and we are not sure in the future, there are any more new insurance scheme out there or increase in premiums of any existing insurance scheme.
It is good that the supplement can be paid partially by Medisave, we still need Medisave to pay for Medishield, the basic Careshield Life and Dependants Protection Scheme, and MEdishield and Careshield Life will get more expensive as one ages.

Curently Aviva has 20% off promotion which is attractive for someone who think it is worth it.

Below is a link for more info on Careshield Life and its supplement.

https://treeofwealth.sg/review-best-careshield-life-supplement-option-in-depth-analysis/

 

[ftpofmpo]

With the CareShield Life that just came out, it is also time for insurance company to cash in on this. So far there are 3 insurance companies offering Careshield Life Supplement, (Aviva, Income and great Eastern) but I was wondering how worth it is it for us to purchase the supplement.

I think the idea behind this scheme is not bad as being severly disabled, we really need large sum of money to get by. However, we already have so many types of insurance that we have to pay for and we are not sure in the future, there are any more new insurance scheme out there or increase in premiums of any existing insurance scheme.
It is good that the supplement can be paid partially by Medisave, we still need Medisave to pay for Medishield, the basic Careshield Life and Dependants Protection Scheme, and MEdishield and Careshield Life will get more expensive as one ages.

Curently Aviva has 20% off promotion which is attractive for someone who think it is worth it.

Below is a link for more info on Careshield Life and its supplement.

https://treeofwealth.sg/review-best-careshield-life-supplement-option-in-depth-analysis/

with careshield supplement do we still need disability insurance?

 

[doratch]

With the CareShield Life that just came out, it is also time for insurance company to cash in on this. So far there are 3 insurance companies offering Careshield Life Supplement, (Aviva, Income and great Eastern) but I was wondering how worth it is it for us to purchase the supplement.

I think the idea behind this scheme is not bad as being severly disabled, we really need large sum of money to get by. However, we already have so many types of insurance that we have to pay for and we are not sure in the future, there are any more new insurance scheme out there or increase in premiums of any existing insurance scheme.
It is good that the supplement can be paid partially by Medisave, we still need Medisave to pay for Medishield, the basic Careshield Life and Dependants Protection Scheme, and MEdishield and Careshield Life will get more expensive as one ages.

Curently Aviva has 20% off promotion which is attractive for someone who think it is worth it.

Below is a link for more info on Careshield Life and its supplement.

https://treeofwealth.sg/review-best-careshield-life-supplement-option-in-depth-analysis/

Wow. Thanks for the info. I will read it when I am free.

 

[doratch]

with careshield supplement do we still need disability insurance?

For my disability income insurance (DII), I am insured until 65yo. I shall read the info provided and asked my insurance agent. My insurance agent told me that as long as the doctor certified that I am unable to do my current job (e.g. I am under rehabilitation), I will be able to receive a payout of 4K/mth.

 

[xtwis7]

Absolutely, especially when CareShield life (CSL) was made mandatory for those aged 30 and above which pretty much means almost 100% of people in this group are also working.

While CSL doesn’t require you to be employed, the criteria to claim from CSL and the traditional disability income is very different. While you can lose your job due to medical reasons which may qualify for disability income, it doesn’t mean that CSL will pay out because it’s based on the Activities of Daily Living (ADLs) definition.

with careshield supplement do we still need disability insurance?

 

[qhong61]

For my disability income insurance (DII), I am insured until 65yo. I shall read the info provided and asked my insurance agent. My insurance agent told me that as long as the doctor certified that I am unable to do my current job (e.g. I am under rehabilitation), I will be able to receive a payout of 4K/mth.

How abt after 65?

 

[xtwis7]

Unfortunately after 65, will have to depend on CareShield life and the supplements for any disability income already. If one meets the definition of TPD then they can also claim from their life/term policies.

How abt after 65?

 

[Intel888]

Keep a look out for promotions.

Generally speaking, if a product is great, there won't be a need to promote it.
The more aggressive the promotion, the more questionable the product it.

 

[winthony]

Keep a look out for promotions.

Generally speaking, if a product is great, there won't be a need to promote it.
The more aggressive the promotion, the more questionable the product it.

To be fair, you can look at it the other way, companies have to make themselves lucrative enough to get people onboard and capture the market share early.

I don't think it is right to associate promotions with the quality of the product! Ultimately, consumers have the choice to take up the product or not, the promotion should not be the primary consideration

 

[MaxZ123]

Do anyone think that maybe we should just wait, ignore any promotion and just wait for more insurance companies to come out with their version of Careshield Life Supplements and decide? Or just stick to the basic one provided by the government?

 

[boredboiboi]

Do anyone think that maybe we should just wait, ignore any promotion and just wait for more insurance companies to come out with their version of Careshield Life Supplements and decide? Or just stick to the basic one provided by the government?

There is only 3 insurers. Just like eldershield, also only 3 insurers.

 

[exterminazn]

Keep a look out for promotions.

Generally speaking, if a product is great, there won't be a need to promote it.
The more aggressive the promotion, the more questionable the product it.

The reverse is for insurance though

 

[minamikaze]

Has anyone done a comparison between the 3 yet? Does the 20% discount offered by Aviva make it the most worthwhile?

 

[boredboiboi]

Has anyone done a comparison between the 3 yet? Does the 20% discount offered by Aviva make it the most worthwhile?

I can compare only 2, and aviva 20% perpectual discount min $500/year premium while Ge is $750 premium min to enjoy discount. But previously eldershield upgrade for aviva is the most competitive.

 

[winthony]

Has anyone done a comparison between the 3 yet? Does the 20% discount offered by Aviva make it the most worthwhile?

Done a comparison between NTUC and Aviva, more worthwhile to get on Aviva with the discount but both NTUC and Aviva have different benefits structures so overall, have to see what you favour

 

[supersnail0]

Has anyone done a comparison between the 3 yet? Does the 20% discount offered by Aviva make it the most worthwhile?

Hello, I have compared Aviva, NTUC, and Great Eastern based on their payout period, premium period, claims eligibility, monthly benefit, dependants’ benefit, and death benefit.

Aviva, NTUC, and Great Eastern have a payout period of 10 years or lifetime, 12 years or lifetime, and lifetime respectively.

Not to mention that their dependants’ benefit is 20% of the monthly benefit and 25% of the monthly benefit for Aviva and NTUC.

The premium period is till 80 years old, 20 years or lifetime, and 65 years old respectively.

The only similarity would be their claims eligibility to be 2/6 ADL, and a monthly benefit of up to $5,000.

However, some information for Great Eastern has yet to be released.

I found this site: https://www.policypal.com/blog/insu...arison-ntuc-income-vs-aviva-vs-great-eastern/ pretty useful for information like these can check out if you would like to! Hopefully, it helps you too!

 

[amazingneil]

Has anyone done a comparison between the 3 yet? Does the 20% discount offered by Aviva make it the most worthwhile?

got one blog have comparison about the 3. for aviva i heard the premium must be $500 and above for the 20% discount, so if u looking at at least $500, then i guess Aviva most worthwhile.
https://www.policypal.com/blog/insu...arison-ntuc-income-vs-aviva-vs-great-eastern/

 

[xtwis7]

Even with perpetual discount, Aviva is still not always cheaper. Was looking at myself, same premium but Aviva had $200 lower in benefit.

 

[boredboiboi]

Even with perpetual discount, Aviva is still not always cheaper. Was looking at myself, same premium but Aviva had $200 lower in benefit.

Aviva payout is on top of the careshield payout. Is GE payout on top of careshield or payout is inclusive of careshield payout?

 

[exterminazn]

Aviva payout is on top of the careshield payout. Is GE payout on top of careshield or payout is inclusive of careshield payout?

GE is also on top of careshield