Careshield Life Supplement

qhong61 · Feb 3, 2023

reddevil0728 said:
I know but what’s the purpose of CSL supplement then?

He mean why not govt offered more than basic?
I agreed.
Supplement needs underwriting.
Also premium till age 85.

reddevil0728 · Feb 3, 2023

qhong61 said:
He mean why not govt offered more than basic?
I agreed.
Supplement needs underwriting.
Also premium till age 85.

it’s like why government only offer medishield life? And left ISP to insurers?

chopra · Mar 24, 2023

Hi. Not sure if there’s a faq. For elderly under eldershield, any need for them to go for careshield? Whats e advantage? I think for my parents cases for eldershield, they can get $400 per mth. Not sure if it’s forever or for a finite number of years

qhong61 · Mar 24, 2023

chopra said:
Hi. Not sure if there’s a faq. For elderly under eldershield, any need for them to go for careshield? Whats e advantage? I think for my parents cases for eldershield, they can get $400 per mth. Not sure if it’s forever or for a finite number of years

Careshield life is payout for life.
Eldershield is only payout for six yrs.

firsttimebuyer · Mar 24, 2023

curiousotter said:
Thanks exterminazn. Can one claim from both DII and Careshield Life supplement at the same time (assuming I meet criteria to claim from both) ? There are usually clauses in DII that states that total payout arising from disability cannot exceed 75% of monthly income... If my DII sum assured is already 75% of my monthly income, does it still make sense to purchase a careshield life supplement?

exterminazn said:
Csl supplement can purchase multiple policies from different insurers

I am reading this thread with great imterest.

I am womdering, for those that already had purchased careshield Life supplement, could you share:

1) Is there a particular age at which your careshield life supplement ends?

2) if it lasts for your whole life, do you also pay the premium till the day you die?

3) From the online websites that I have been frantically reading for the past 2 days (including the MoneySmart personal finance website), i often see the phrase "disability insurance scheme" comes up, which is indicative that it is disability insurance. Now this is concerning to me, because I just found out that there is a hard limit to how much one can possibly claim from disability insurance.

The figure I have seen is 75%. which bothers me, because I am planning to go ahead with Careshield Life Supplement. And if I am going ahead with Careshield Life, I am not sure if it would work when I get another disability insurance income policy.

Lookimg forward to hearing from those that already bought Careshield Life Supplement

exterminazn · Mar 24, 2023

firsttimebuyer said:
I am reading this thread with great imterest.

I am womdering, for those that already had purchased careshield Life supplement, could you share:

1) Is there a particular age at which your careshield life supplement ends?

2) if it lasts for your whole life, do you also pay the premium till the day you die?

3) From the online websites that I have been frantically reading for the past 2 days (including the MoneySmart personal finance website), i often see the phrase "disability insurance scheme" comes up, which is indicative that it is disability insurance. Now this is concerning to me, because I just found out that there is a hard limit to how much one can possibly claim from disability insurance. The figure I have seen is 75%. which bothers me, because I am planning to go ahead with Careshield Life Supplement. And if I am going ahead with Careshield Life, I am not sure if it would work when I get another disability insurance income policy.

Lookimg forward to hearing from those that already bought Careshield Life Supplement

Hi

1) ge supplement is cover for life after pay finish premium

2) ge supplement can pay till age 67 or 95

3) Careshield life and supplement are for long term care, not really disability insurance….. 75% limit is for DII aka disability insurance …… can claim both provided satisfy claim criteria

firsttimebuyer · Mar 24, 2023

exterminazn said:
Hi

1) ge supplement is cover for life after pay finish premium

2) ge supplement can pay till age 67 or 95

3) Careshield life and supplement are for long term care, not really disability insurance….. 75% limit is for DII aka disability insurance …… can claim both provided satisfy claim criteria

Thank you. I will need to study it very carefully.

chopra · Mar 25, 2023

hi my parents are under eldershield. they are in the 70s. thinking whether to get them on careshield. anyone in a same situation?

Read HWZ Forum Rules!

qhong61 · Mar 25, 2023

chopra said:
hi my parents are under eldershield. they are in the 70s. thinking whether to get them on careshield. anyone in a same situation?

Read HWZ Forum Rules!

Pls get

reddevil0728 · Mar 25, 2023

qhong61 said:
Pls get

can elaborate why?

qhong61 · Mar 25, 2023

reddevil0728 said:
can elaborate why?

May need anytime

andyhtc · Mar 25, 2023

chopra said:
hi my parents are under eldershield. they are in the 70s. thinking whether to get them on careshield. anyone in a same situation?

Read HWZ Forum Rules!

The lifetime payout is only valid if one has joined at least 10 years at their age.

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

jywy2005 · Mar 25, 2023

I opted out of Eldershield and opted in Careshield which I feel is much better. If I remember correctly, eldershield payout is only for a certain number of years.

Now thinking of getting careshield supplement from the private insurers. I believe can use Medisave to pay up to $600.

reddevil0728 · Mar 25, 2023

jywy2005 said:
I opted out of Eldershield and opted in Careshield which I feel is much better. If I remember correctly, eldershield payout is only for a certain number of years.

Now thinking of getting careshield supplement from the private insurers. I believe can use Medisave to pay up to $600.

Yes. Correct

qhong61 · Mar 25, 2023

andyhtc said:
The lifetime payout is only valid if one has joined at least 10 years at their age.

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

If before the ten yrs?

fr33d0m · Mar 25, 2023

Long term care is expensive no matter where you are and especially in expensive cities like Singapore.

Careshield life helps a bit to fulfil very basic long term care needs.

Private is not really helping much in terms of quality of long term care. People should not care about whether it is 1 ADL or 2ADL. The most important thing is how much you can get per month. In the end, you are going to end with not being able to perform most of the ADLs.

qhong61 · Mar 25, 2023

fr33d0m said:
Long term care is expensive no matter where you are and especially in expensive cities like Singapore.

Careshield life helps a bit to fulfil very basic long term care needs.

Private is not really helping much in terms of quality of long term care. People should not care about whether it is 1 ADL or 2ADL. The most important thing is how much you can get per month. In the end, you are going to end with not being able to perform most of the ADLs.

Yes.
Someone said if in the end u don't need to or unable to claim, just treat as donation.
It's good thot.

reddevil0728 · Mar 25, 2023

qhong61 said:
Yes.
Someone said if in the end u don't need to or unable to claim, just treat as donation.
It's good thot.

is what OYK called "premium"

andyhtc · Mar 25, 2023

qhong61 said:
If before the ten yrs?

There is no detail on this on the website. Strictly speaking, no of based on cut off.

Compfix · Mar 25, 2023

thank you..

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