Careshield Life Supplement

[blurpandasg2014]

The BEST formula is to have a mix and match

NTUC + GE plan able to give much higher payouts den buying it from jus one insurer

 

[Barbarblacksheep]

The BEST formula is to have a mix and match

NTUC + GE plan able to give much higher payouts den buying it from jus one insurer

Interesting, care to share the math and source for reference

 

[blurpandasg2014]

Interesting, care to share the math and source for reference

Pls see this thread with the permutations

https://forums.hardwarezone.com.sg/money-mind-210/careshield-life-supplement-why-hybrid-could-best-option-6402120.html#post130567068

 

[xtwis7]

Only NTUC includes the careshield life payout which I can’t understand why it’s done that way.

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

 

[twinbaby]

aviva, non escalating at 600 a month, lifetime pay, 2 out of 6 activities, is it worth it? if I got stroke or do operation temporary cannot do these activities is it worth it?

2ndly, I already have full rider plan, do I still these?

 

[boredboiboi]

aviva, non escalating at 600 a month, lifetime pay, 2 out of 6 activities, is it worth it? if I got stroke or do operation temporary cannot do these activities is it worth it?

2ndly, I already have full rider plan, do I still these?

Only you know what your needs. Do you have enough emergency fund if all this happens to you and that the payout. All the question u ask, only you yourself know your own profile well to answer.

 

[fantastyy]

So from this article I guess Careshield Life is like a compulsory thing for everyone to have? n its like no choice one right? since govt hv it for everyone..


But we pay using CPF?? Hmm I guess its ok luh CPF like cannot touch at all de HAHA

https://www.policypal.com/blog/announcements/careshield-life/

 

[happy2321]

Yes, CareShield Life is compulsory! However, you can also upgrade your CareShield Life to CareSheild Life Premium, whereby you can use CPF savings to pay the premiums, including for any private insurer top-ups.

That's right! CareShield Life can also be paid using CPF. The premiums can be paid via cash or by your own or your family members’ MediSave, up to a limit of $600 per calendar year per person insured.

Honestly, I think that it is a pretty good deal! Any thoughts on it?

 

[doratch]

As I already have a DII, is it possible to opt for a lower premium for Careshield supplement plan and then when I am 55yo, I can upgrade to a higher premium?

 

[boredboiboi]

As I already have a DII, is it possible to opt for a lower premium for Careshield supplement plan and then when I am 55yo, I can upgrade to a higher premium?

Careshield premium is fix. Its only the upgrade that u can choose. U can upgrade anytime u like. Subject to health underwriting.

 

[reddevil0728]

Careshield premium is fix. Its only the upgrade that u can choose. U can upgrade anytime u like. Subject to health underwriting.

it is not fixed from my understand. they can revise the premium

 

[doratch]

I was looking at the payout though.

I am currently 40+.

If i opt for a $1,200 payout, the premium is around $600. If i opt for $3,000 payout, the premium is around $2,000.
So, can i opt for a $1,200 payout and pay $600 (it will increase with age) and later when i reach 55yo, I opt for a $3,000 payout and pay possibly a higher premium?

 

[reddevil0728]

I was looking at the payout though.

I am currently 40+.

If i opt for a $1,200 payout, the premium is around $600. If i opt for $3,000 payout, the premium is around $2,000.
So, can i opt for a $1,200 payout and pay $600 (it will increase with age) and later when i reach 55yo, I opt for a $3,000 payout and pay possibly a higher premium?

subject to underwriting.

 

[boredboiboi]

I was looking at the payout though.

I am currently 40+.

If i opt for a $1,200 payout, the premium is around $600. If i opt for $3,000 payout, the premium is around $2,000.
So, can i opt for a $1,200 payout and pay $600 (it will increase with age) and later when i reach 55yo, I opt for a $3,000 payout and pay possibly a higher premium?

Yes the premium is determined at the age of entry and subject to underwriting

 

[boredboiboi]

it is not fixed from my understand. they can revise the premium

What i mean is that the premium is determine at point of entry. Whenever they put premium will be review is just a clause. Most of the time the premium will not change.

 

[reddevil0728]

Yes the premium is determined at the age of entry and subject to underwriting

What i mean is that the premium is determine at point of entry. Whenever they put premium will be review is just a clause. Most of the time the premium will not change.

this is a new product, so how is it certain they wouldn't change?

the very fact that they say they can change it means there is a possibility. so that has to be taken into consideration regardless of how unlikely/likely it might be

 

[doratch]

I was looking at the payout though.

I am currently 40+.

If i opt for a $1,200 payout, the premium is around $600. If i opt for $3,000 payout, the premium is around $2,000.
So, can i opt for a $1,200 payout and pay $600 (it will increase with age) and later when i reach 55yo, I opt for a $3,000 payout and pay possibly a higher premium?

I managed to ask my agent.

He said its possible but will need to undergo a health assessment when I want to increase the premium.

 

[RouK3ziLa]

I managed to ask my agent.

He said its possible but will need to undergo a health assessment when I want to increase the premium.

i dont think he will know the full details also cause everything is new .. and they are spaming new people to join this .

 

[Nancy Fancy]

alternatively, you may consider the escalating option (2% or 3%)

 

[minamikaze]

Hm.. I still have not signed up lol.
It doesn't seem to be bang for the buck. I'm paying $90+ for $600 monthly benefit (the compulsory portion), but have to pay another $400+ if I want say another $700 monthly benefit.
Any thoughts? Are there better alternatives to this?