Careshield Life Supplement

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royalmix

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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
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Nobody talks about this, nothing (details) mentioned at the website. Today I read again, it is a badly written tnc!

So can be misinterpreted! :ROFLMAO:

  • You continue to be covered for life once you have completed paying all your premiums, which will happen in the year you turn age 67 or 10 years after you join the scheme, whichever is later.
It is referring to how long you have to pay premiums, ie you stop paying premiums at age 67, for those who join at older age - you have to pay 10 years premium.
 
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qhong61

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royalmix said:
Nobody talks about this, nothing (details) mentioned at the website. Today I read again, it is a badly written tnc!

So can be misinterpreted! :ROFLMAO:

  • You continue to be covered for life once you have completed paying all your premiums, which will happen in the year you turn age 67 or 10 years after you join the scheme, whichever is later.
It is referring to how long you have to pay premiums, ie you stop paying premiums at age 67, for those who join at older age - you have to pay 10 years premium.
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U are right
 
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firsttimebuyer

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I have decided my mind to get the Singlife CareShield Plus.

My worry is the premium, that I cannot sustain the premium, once my medisave keeps drawing down.
 
jywy2005

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There are also GE and Aviva for private enhanced careshield. Seems to me that GE will start the payout once you meet only 1 ADL or something like that.

Anybody bought this for loved ones? Is it easy that claim the payout? This is my main concern.
 
reddevil0728

reddevil0728

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jywy2005 said:
There are also GE and Aviva for private enhanced careshield. Seems to me that GE will start the payout once you meet only 1 ADL or something like that.

Anybody bought this for loved ones? Is it easy that claim the payout? This is my main concern.
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but payout once meet 1 ADL also means premium going to cost a lot more.

whether ppl buy for loved ones not impt right? is what you need that matters.

Given that the baseline careshield life is by government, if the baseline can pay, means the supplement also will pay. but i guess also depends on what you mean by easy?
 
xtwis7

xtwis7

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jywy2005 said:
There are also GE and Aviva for private enhanced careshield. Seems to me that GE will start the payout once you meet only 1 ADL or something like that.

Anybody bought this for loved ones? Is it easy that claim the payout? This is my main concern.
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GE's 1 ADL payout is 50% of your insured benefit. The premiums aren't really that much more expensive than Singlife actually. I think those who really believe in this are those with family members who have claimed from this.

There has been many instances where people used to say Eldershield is a 'scam' because the premiums collected far outweigh the claims paid. One thing to note is that the generational trend is there have been less births and eventually we are going to have a inverted pyramid so you can see it as preparing for the silver wave to come.
 
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Peanut15

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Can someone comment on whether my logic make sense?

i feel that 1ADL means you got into an accident or "minor stroke" that will probably recover. So can get premium for a few month. This probably has a higher probability than 2-3 ADL?

2-3ADL means bed ridden and hard to recover. Hopefully this means a much lower probability. i also had a hard time getting doctor to certify my grandparent 3 ADL to claim for Eldershield.

As such, I chose GE purely for the 1ADL.
 
reddevil0728

reddevil0728

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Peanut15 said:
Can someone comment on whether my logic make sense?

i feel that 1ADL means you got into an accident or "minor stroke" that will probably recover. So can get premium for a few month. This probably has a higher probability than 2-3 ADL?

2-3ADL means bed ridden and hard to recover. Hopefully this means a much lower probability. i also had a hard time getting doctor to certify my grandparent 3 ADL to claim for Eldershield.

As such, I chose GE purely for the 1ADL.
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that logic is only if you are looking at buying insurance and really want to get something out of it.

while technically insurance should be something that you really don't want to claim from it.

you have to deconflict the above first before other consideration comes into play.
 
jywy2005

jywy2005

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If you are born earlier than 1970, you should still be on eldershield. I have converted to Careshieldlife, which I feel is a better deal.

Now thinking of getting enhanced careshield supplement. Better to get it earlier when you are younger.
 
harky

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if got Dependants’ Protection Scheme (DPS) still need to buy Careshield Life Supplement
 
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