Careshield Life Supplement

[reddevil0728]

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

separate things for separate purpose.

if fact both are optional just that DPS is opt out. while CLS is opt in

 

[bladez87]

I thinking of buying CSL till 95. As the monthly premiums are lower, then at 67 if I intend to drop it, I can just cancel the coverage right?

 

[bluerail]

I thinking of buying CSL till 95. As the monthly premiums are lower, then at 67 if I intend to drop it, I can just cancel the coverage right?

Yes you can, usually makes more sense to pay till 95 (or whichever longer term) since you pay less, and don't need to pay once you claim, and chances are you have enough in your medisave to just deduct interest by then.

 

[bladez87]

Yes you can, usually makes more sense to pay till 95 (or whichever longer term) since you pay less, and don't need to pay once you claim, and chances are you have enough in your medisave to just deduct interest by then.

yup. thats what i noticed as well

 

[exterminazn]

I thinking of buying CSL till 95. As the monthly premiums are lower, then at 67 if I intend to drop it, I can just cancel the coverage right?

If you are referring to csl supplement, yes u can cancel coverage but of course can only claim from basic csl

 

[reddevil0728]

I thinking of buying CSL till 95. As the monthly premiums are lower, then at 67 if I intend to drop it, I can just cancel the coverage right?

Should cancel only if really cannot afford.

 

[flowerscflowers]

Can anyone elaborate on the GE careshield life? One of the payment method is use medisave pay till 95 years. I am wondering if I really hav to work so long years to afford to pay this? Also, what if drop off halfway? What will happen to policy?

 

[reddevil0728]

Can anyone elaborate on the GE careshield life? One of the payment method is use medisave pay till 95 years. I am wondering if I really hav to work so long years to afford to pay this?

Is no diff from medishield IP right. if you want to continue on IP, you have to pay for it.

By right the premium should be locked in, though the language in the T&Cs did suggest they have the right to change it.

and government allows up to 600 bucks to be used from MA now.

presumably if they ever increase the premium, this cap will also go up.

then some other changes to MA might happen also

Also, what if drop off halfway? What will happen to policy?

if you are talking about the supplement, then it will no longer be in force, only the basic compulsory 1 will be

 

[exterminazn]

Can anyone elaborate on the GE careshield life? One of the payment method is use medisave pay till 95 years. I am wondering if I really hav to work so long years to afford to pay this? Also, what if drop off halfway? What will happen to policy?

What query do u have?

i believe u are referring to ge Careshield supeeme

U may choose option to pay till 67 if you have concern to sustain the premium though

 

[bladez87]

What query do u have?

i believe u are referring to ge Careshield supeeme

U may choose option to pay till 67 if you have concern to sustain the premium though

pay to 67, but coverage till when??

 

[reddevil0728]

pay to 67, but coverage till when??

if u choose the 67 1 then is for life.

 

[exterminazn]

pay to 67, but coverage till when??

Pay to 67, coverage for life

 

[bladez87]

Thanks.
Think will go for 95 yo then.

 

[flowerscflowers]

If choose the 95 years old one, but medisave not enough pay till 95, what will happen huh?

 

[reddevil0728]

If choose the 95 years old one, but medisave not enough pay till 95, what will happen huh?

pay with cash

 

[flowerscflowers]

pay with cash

Can suddenly pay with cash meh?

 

[xtwis7]

Can suddenly pay with cash meh?

Always possible. Even at age 30 if one wants to use cash to pay for it, they can do so.

 

[xtwis7]

Yes you can, usually makes more sense to pay till 95 (or whichever longer term) since you pay less, and don't need to pay once you claim, and chances are you have enough in your medisave to just deduct interest by then.

Yes, because assuming one is healthy so more likely to require this benefit when you're much older so prepaying doesn't help. Furthermore the premiums saved from paying till 67 vs 95 is really not that significant.

Even if you assume that at age 80 you fall into the claim eligibility criteria, premiums paid till that point would be almost comparable for the same desired benefit.

 

[qhong61]

Can suddenly pay with cash meh?

They will infm u of shortfall.

 

[reddevil0728]

Can suddenly pay with cash meh?

It’s more like technically should pay with cash.

but government say can use up to 600 bucks from MA.

so use that first lor