Careshield Life Supplement

[qhong61]

My GE eldershield comprehensive cover lifetime with $600 payout for 2ADLs for $535 , why yr only 3ADLS ?

My agent didn't advise me then.

 

[qhong61]

My GE eldershield comprehensive cover lifetime with $600 payout for 2ADLs for $535 , why yr only 3ADLS ?

Ur premium is even cheaper than my 3ADL and payout higher. Maybe u are younger?

 

[qhong61]

My GE eldershield comprehensive cover lifetime with $600 payout for 2ADLs for $535 , why yr only 3ADLS ?

Actually ur GE comprehensive seems quite attractive. Better than the govt careshield life?

 

[Moonwalker0921]

Actually ur GE comprehensive seems quite attractive. Better than the govt careshield life?

youngster call me uncle liao . 56 male now . get GE comprehensive like 2010 .

 

[Moonwalker0921]

Actually ur GE comprehensive seems quite attractive. Better than the govt careshield life?

If just about 3ADLs , both are about the same payout .

In order to get GE eldershield 2ADLs benefit , will need to pay premium for until age100 (valueplus400) & age 80 (comprehensive ) .

 

[peacefulday]

How many of you consider to remain in eldershield , together with all the eldershield supplement which u have signed before

and what is the reason doing that ?

likely remain in eldershield + ntuc primeshield supplement over cashshield life. My current supplement plan at fixed annual premium till age65 & pay out claim at $1000 for lifetime.

 

[qhong61]

likely remain in eldershield + ntuc primeshield supplement over cashshield life. My current supplement plan at fixed annual premium till age65 & pay out claim at $1000 for lifetime.

How many ADL?

 

[peacefulday]

How many ADL?

3 out of 6 Activities of Daily Living: Washing, Dressing, Feeding, Toileting, Mobility and Transferring.

 

[peacefulday]

If just about 3ADLs , both are about the same payout .

In order to get GE eldershield 2ADLs benefit , will need to pay premium for until age100 (valueplus400) & age 80 (comprehensive ) .

personal view and it's quite ridiculous to pay till age100 or 80 for a 2ADLs benefits. it's just like doing lifetime paying for lifetime coverage

 

[andyhtc]

How many of you consider to remain in eldershield , together with all the eldershield supplement which u have signed before

and what is the reason doing that ?

Mine is:

1. Eldershield $174.96 a year (3 activities): the payout is $400 for 6 years
2. Aviva MyCare Plus $587.11 a year (2 activities): $900 for the first 6 years and $1,300 after 6 years.

Both premiums are fixed.

If I switch my Eldershield to Careshield, I will end up paying a higher and increasing premium, starting from $318 after a $50 discount at around an $8 increase per year.

The main benefits are the higher payout and limited pay to 67 years old if I convert my Eldershield to Careshield. Effectively, I will be paying $150-300 more per year to enjoy these two benefits. The only worry is the increase won't be about $8 per year. I can possibly drop the Aviva when I'm over 67 years old.

 

[fr33d0m]

Mine is:

1. Eldershield $174.96 a year (3 activities): the payout is $400 for 6 years
2. Aviva MyCare Plus $587.11 a year (2 activities): $900 for the first 6 years and $1,300 after 6 years.

Both premiums are fixed.

If I switch my Eldershield to Careshield, I will end up paying a higher and increasing premium, starting from $318 after a $50 discount at around an $8 increase per year.

The main benefits are the higher payout and limited pay to 67 years old if I convert my Eldershield to Careshield. Effectively, I will be paying $150-300 more per year to enjoy these two benefits. The only worry is the increase won't be about $8 per year. I can possibly drop the Aviva when I'm over 67 years old.

isn't it worse? You give it up when you need it the most and pay all those years of premium for nothing?

Eldershield or Careshield is not pure insurance like life insurance. It has some built-in annuity component and annuity-like premium paying. you pay more than risk in the younger years so that you pay less in the later years.

 

[andyhtc]

isn't it worse? You give it up when you need it the most and pay all those years of premium for nothing?

Eldershield or Careshield is not pure insurance like life insurance. It has some built-in annuity component and annuity-like premium paying. you pay more than risk in the younger years so that you pay less in the later years.

I have not thought much about this Careshield. I just received my letter today. Yes, maybe good to keep the MyCare Plus.

The difficulty is more on whether to auto convert. The Careshield premium is not a lot more but the payout is also not a lot more than Eldershield.

 

[harky]

so many shield.... make me confuse but i dont think i had so many extra $$ to buy except Medishield

 

[qhong61]

I have not thought much about this Careshield. I just received my letter today. Yes, maybe good to keep the MyCare Plus.

The difficulty is more on whether to auto convert. The Careshield premium is not a lot more but the payout is also not a lot more than Eldershield.

Ur mycareplus for how many ADL? How much the monthly payout? Premium?

 

[andyhtc]

Ur mycareplus for how many ADL? How much the monthly payout? Premium?

As shared earlier, mine is:

1. Eldershield $174.96 a year (3 ADLs): the payout is $400 for 6 years
2. Aviva MyCare Plus $587.11 a year (2 ADLs): payout is $900 for the first 6 years and $1,300 after 6 years.

Both premiums are fixed.

 

[andyhtc]

so many shield.... make me confuse but i dont think i had so many extra $$ to buy except Medishield

Medishield is a totally different package. It is for hospitalisation only.

15. What is the difference between CareShield Life, ElderShield, MediShield Life, CPF LIFE, ElderFund, Community Health Assist Scheme (CHAS), Home Caregiving Grant (HCG) , Pioneer Generation Disability Assistance Scheme (PioneerDAS) and Interim Disability Assistance Programme for the Elderly (IDAPE)?

CareShield Life, ElderShield, MediShield Life, CPF LIFE, CHAS, HCG, PioneerDAS, ElderFund and IDAPE are schemes that help Singaporeans with different types of healthcare and retirement expenses.

CareShield Life and ElderShield are long-term care insurance schemes that will provide Singapore Citizens and Permanent Residents basic financial protection should one become severely disabled (i.e. unable to perform at least three or more of the six Activities of Daily Living), especially in old age.

For ElderShield, eligible Singapore Citizens and Permanent Residents who had a MediSave Account when they turned 40 years old in 2019 or earlier were automatically covered under ElderShield. Depending on the plan you have, if you are severely disabled, ElderShield provides monthly cash payouts of $300 per month for up to 60 months (under ESH300 plan), or $400 per month for up to 72 months (under ESH400 plan).

For CareShield Life, Singapore Citizens or Permanent Residents born in 1980 or later will be automatically covered under CareShield Life on 1 October 2020, or when they turn 30, whichever is later. Singapore Citizens or Permanent Residents born in 1979 or earlier can choose to join CareShield Life if they are not severely disabled. CareShield Life insureds can receive monthly payouts for as long as they remain severely disabled. Payouts start at $600 per month in 2020 and increase annually until age 67 or when a successful claim is made, whichever is earlier.

MediShield Life is a basic healthcare insurance plan that protects all Singapore Citizens and Permanent Residents against large medical bills for life.

CPF LIFE is the national longevity insurance annuity scheme, which insures Singapore Citizens and Permanent Residents against the risk of outliving their retirement savings. Under CPF LIFE, members will receive a monthly payout from their payout eligibility age, for as long as they live.

Community Health Assist Scheme (CHAS) enables all Singapore Citizens, including Pioneer Generation (PG) and Merdeka Generation (MG) cardholders, to receive subsidies for medical and/or dental care at participating General Practitioner (GP) and dental clinics. CHAS was implemented to allow CHAS cardholders to enjoy more subsidies at Specialist Outpatient Clinics (SOCs) in public hospitals when referred by CHAS-partnered clinics or polyclinics.

Home Caregiving Grant (HCG) is a monthly cash grant of $200 to support families caring for loved ones with permanent moderate disability (i.e. always require some assistance with at least three Activities of Daily Living (ADLs)) who reside in the community. The HCG can be used to defray caregiving expenses, such as the cost of eldercare and services in the community or hiring of a foreign domestic worker.

Pioneer Generation Disability Assistance Scheme (PioneerDAS) offers life-long monthly cash assistance of $100 to Pioneers with permanent moderate disability (i.e. always require some assistance with at least three ADLs). Applicants must be a Pioneer to be eligible.

Interim Disability Assistance Programme for the Elderly (IDAPE) offers a monthly cash assistance of up to $250 to needy elderly Singapore Citizens living in Singapore who are needy, severely disabled and unable to join ElderShield when it was launched in 2002 either because they had exceeded the maximum entry age or had pre-existing disabilities.

ElderFund is a discretionary government assistance scheme providing monthly cash assistance of up to $250 to severely disabled, lower-income Singapore Citizens, aged 30 and above, who are not able to benefit from CareShield Life, ElderShield and Interim Disability Assistance Programme for the Elderly (IDAPE), and have low MediSave balances and inadequate personal savings to meet their long-term care needs.

https://www.careshieldlife.gov.sg/faqs/careshield-life.html

 

[harky]

Medishield is a totally different package. It is for hospitalisation only.

15. What is the difference between CareShield Life, ElderShield, MediShield Life, CPF LIFE, ElderFund, Community Health Assist Scheme (CHAS), Home Caregiving Grant (HCG) , Pioneer Generation Disability Assistance Scheme (PioneerDAS) and Interim Disability Assistance Programme for the Elderly (IDAPE)?

CareShield Life, ElderShield, MediShield Life, CPF LIFE, CHAS, HCG, PioneerDAS, ElderFund and IDAPE are schemes that help Singaporeans with different types of healthcare and retirement expenses.

CareShield Life and ElderShield are long-term care insurance schemes that will provide Singapore Citizens and Permanent Residents basic financial protection should one become severely disabled (i.e. unable to perform at least three or more of the six Activities of Daily Living), especially in old age.

For ElderShield, eligible Singapore Citizens and Permanent Residents who had a MediSave Account when they turned 40 years old in 2019 or earlier were automatically covered under ElderShield. Depending on the plan you have, if you are severely disabled, ElderShield provides monthly cash payouts of $300 per month for up to 60 months (under ESH300 plan), or $400 per month for up to 72 months (under ESH400 plan).

For CareShield Life, Singapore Citizens or Permanent Residents born in 1980 or later will be automatically covered under CareShield Life on 1 October 2020, or when they turn 30, whichever is later. Singapore Citizens or Permanent Residents born in 1979 or earlier can choose to join CareShield Life if they are not severely disabled. CareShield Life insureds can receive monthly payouts for as long as they remain severely disabled. Payouts start at $600 per month in 2020 and increase annually until age 67 or when a successful claim is made, whichever is earlier.

MediShield Life is a basic healthcare insurance plan that protects all Singapore Citizens and Permanent Residents against large medical bills for life.

CPF LIFE is the national longevity insurance annuity scheme, which insures Singapore Citizens and Permanent Residents against the risk of outliving their retirement savings. Under CPF LIFE, members will receive a monthly payout from their payout eligibility age, for as long as they live.

Community Health Assist Scheme (CHAS) enables all Singapore Citizens, including Pioneer Generation (PG) and Merdeka Generation (MG) cardholders, to receive subsidies for medical and/or dental care at participating General Practitioner (GP) and dental clinics. CHAS was implemented to allow CHAS cardholders to enjoy more subsidies at Specialist Outpatient Clinics (SOCs) in public hospitals when referred by CHAS-partnered clinics or polyclinics.

Home Caregiving Grant (HCG) is a monthly cash grant of $200 to support families caring for loved ones with permanent moderate disability (i.e. always require some assistance with at least three Activities of Daily Living (ADLs)) who reside in the community. The HCG can be used to defray caregiving expenses, such as the cost of eldercare and services in the community or hiring of a foreign domestic worker.

Pioneer Generation Disability Assistance Scheme (PioneerDAS) offers life-long monthly cash assistance of $100 to Pioneers with permanent moderate disability (i.e. always require some assistance with at least three ADLs). Applicants must be a Pioneer to be eligible.

Interim Disability Assistance Programme for the Elderly (IDAPE) offers a monthly cash assistance of up to $250 to needy elderly Singapore Citizens living in Singapore who are needy, severely disabled and unable to join ElderShield when it was launched in 2002 either because they had exceeded the maximum entry age or had pre-existing disabilities.

ElderFund is a discretionary government assistance scheme providing monthly cash assistance of up to $250 to severely disabled, lower-income Singapore Citizens, aged 30 and above, who are not able to benefit from CareShield Life, ElderShield and Interim Disability Assistance Programme for the Elderly (IDAPE), and have low MediSave balances and inadequate personal savings to meet their long-term care needs.

https://www.careshieldlife.gov.sg/faqs/careshield-life.html

oh this is disabled .

very hard to claim le..
cant opt out.. so.. wont top up also

 

[qhong61]

As shared earlier, mine is:

1. Eldershield $174.96 a year (3 ADLs): the payout is $400 for 6 years
2. Aviva MyCare Plus $587.11 a year (2 ADLs): payout is $900 for the first 6 years and $1,300 after 6 years.

Both premiums are fixed.

Ur mycare plus is good.
My GE comprehensive. Also abt ur premium. Only cover 3ADL and only $400 payout.
Very disappointed that they unwilling to upgrade for me now.
Disappointed with previous agent.

 

[qhong61]

oh this is disabled .

very hard to claim le..
cant opt out.. so.. wont top up also

If u are still young and no existing conditions, good to consider the comprehensive supplement for 2ADL.
Met an old uncle neighbour on wheelchair and with stroke in one hand.
He requests me to help him cut his finger nails as he unable to do so himself.
Guess if he is covered under 2ADL should be able to claim.

 

[peacefulday]

As shared earlier, mine is:

1. Eldershield $174.96 a year (3 ADLs): the payout is $400 for 6 years
2. Aviva MyCare Plus $587.11 a year (2 ADLs): payout is $900 for the first 6 years and $1,300 after 6 years.

Both premiums are fixed.

The mycare Plus premium $587.11 until which age? the payout only last for 12 years?