Do we really need this CareShield Life? Can opt out?

[James Lee WY]

I think this CareShield Life like not that good at all just sucking away all our hard earn money.

I heard say can use Medisave but still what if not enough.. and also so hard to claim. We can only claim payout when we are disabled.

I mean, what are the chances even. Anyways this seems like a waste of money to me

 

[reddevil0728]

I think this CareShield Life like not that good at all just sucking away all our hard earn money.

I heard say can use Medisave but still what if not enough.. and also so hard to claim. We can only claim payout when we are disabled.

I mean, what are the chances even. Anyways this seems like a waste of money to me

https://www.careshieldlife.gov.sg/f...stionanswer_17457864332020-09-0209-15-14-659Z

As with all insurances, you wouldn’t know you will need it until you really need it.

That being said, kpkb also no use. Cause cannot opt up unless you are above a certain age.

 

[fr33d0m]

I think this CareShield Life like not that good at all just sucking away all our hard earn money.

I heard say can use Medisave but still what if not enough.. and also so hard to claim. We can only claim payout when we are disabled.

I mean, what are the chances even. Anyways this seems like a waste of money to me

It is almost 100% that you will be hit with it so long as you can live long enough.

Dementia will the biggest problem for elderly as people live longer.

 

[BBCWatcher]

Answer: You cannot opt out of CareShield Life if you're a Singaporean citizen or Singapore Permanent Resident born in 1980 or later (and remain a Singaporean citizen or Singapore Permanent Resident).

 

[amazingneil]

I think this CareShield Life like not that good at all just sucking away all our hard earn money.

I heard say can use Medisave but still what if not enough.. and also so hard to claim. We can only claim payout when we are disabled.

I mean, what are the chances even. Anyways this seems like a waste of money to me

Is pretty affordable uh. Like what fr33d0m said, dementia very common, and if other cognitive impariment affect your daily life, oso can claim. And also like what reddevil0728 said, insurance you never know when, but if kena it will be a benefit lo. The payout okay ya kinda not enough considering nursing homes and hospitals abit ex, but is still money that can help fund for what you need to pay uh

https://www.careshieldlife.gov.sg/content/dam/cshl/pdf/CareShield welcome booklet_V3.pdf
https://www.policypal.com/blog/announcements/careshield-life/

 

[chrisloh65]

Are you sure you can claim for dementia?

I believe that you can't, correct me if I am wrong with facts please?

Is pretty affordable uh. Like what fr33d0m said, dementia very common, and if other cognitive impariment affect your daily life, oso can claim. And also like what reddevil0728 said, insurance you never know when, but if kena it will be a benefit lo. The payout okay ya kinda not enough considering nursing homes and hospitals abit ex, but is still money that can help fund for what you need to pay uh

https://www.careshieldlife.gov.sg/content/dam/cshl/pdf/CareShield welcome booklet_V3.pdf
https://www.policypal.com/blog/announcements/careshield-life/

 

[chrisloh65]

I had opted out long ago (when it was called ElderShield). Same feeling as you, feel that it is pretty useless to me. Rather save this money and self-insure

I think this CareShield Life like not that good at all just sucking away all our hard earn money.

I heard say can use Medisave but still what if not enough.. and also so hard to claim. We can only claim payout when we are disabled.

I mean, what are the chances even. Anyways this seems like a waste of money to me

 

[Trazora]

Are you sure you can claim for dementia?

I believe that you can't, correct me if I am wrong with facts please?

Read the brochures attached in the post you quoted

 

[8zaoyu]

I think this CareShield Life like not that good at all just sucking away all our hard earn money.

I heard say can use Medisave but still what if not enough.. and also so hard to claim. We can only claim payout when we are disabled.

I mean, what are the chances even. Anyways this seems like a waste of money to me

What I don't like about is the pay till 67 from 30 years' old yearly to get $600 per month for Life. Lots of people die instantly in their sleep, heart attacks, etc. We bought our HDB Housing Protection Scheme and straight payment in death insurances. I did not join ElderShield. So many of us Baby Boomers and later are living longer. Instead we should be putting cash in banks or equities/bond for interest/yields or else our govt cannot put so many elderlies in old folks' home later. Maybe should let retired citizens buy a public HDB 2 room flexi short term whilst keeping their existing "must be paid up" whatever HDB or pte property for passive income for old age till death. Of course "non-residential" taxes will keep the govt coffers filled. Unless should make Employers keep paying their 20% CPF portion till 67 years for employees. But nowadays the married women can do home kueh-kueh, bakes set up market "pasar malam" businesses, married uncles can drive PHVs. More $ gotten if hardworking, better than the dead end jobs (especially most Essential Jobs essentially pay peanuts) Only the PMETs jobs, the whole world wants to come to SG to take up. The gist of my saying, is that, we should not be paying for CareShield Life pemiums at all till we employees qualify to pay tax! Since not employed, how to pay. If want to pay, I still pay for Death Insurance to benefit family dependants only. Already got Medishield Life to pay, also for self employed and homemakers. This kind of efficient logistics to get money first when a 30 year old just started or trying a new career. Another way to lose votes later!

 

[item2sell]

What I don't like about is the pay till 67 from 30 years' old yearly to get $600 per month for Life. Lots of people die instantly in their sleep, heart attacks, etc. We bought our HDB Housing Protection Scheme and straight payment in death insurances. I did not join ElderShield. So many of us Baby Boomers and later are living longer, instead of putting cash in banks or equities/bond for interest/yields or the govt cannot put so many elderlies in old folks' home. Maybe should let retired citizens buy a public HDB 2 room flexi short term whilst keeping their existing "must be paid up" whatever HDB or pte property for passive income for old age till death. Of course "non-residential" taxes will keep the govt coffers filled. Unless you make Employers keep paying their 20% portion till 67 years. But nowadays the married women can do home kueh-kueh, bakes set up market "pasar malam" businesses, married uncles can drive PHVs. More $ gotten if hardworking, better than the dead end jobs (especially most Essential Jobs essentially pay peanuts) Only the PMETs jobs, the whole world wants to SG to take up. The gist of my saying, is that, we should not be paying for CareShield Life pemiums at all till we qualify to pay tax! Since not employed, how to pay. If want to pay, I still pay for Death Insurance for family dependants only. Already got Medishield Life to pay for self employed and homemakers. This kind of efficient logistics to get money first when a 30 year just started or trying a career. Another way to lose votes later!

Main objective is to siphon your money.

 

[moolala]

Answer: You cannot opt out of CareShield Life if you're a Singaporean citizen or Singapore Permanent Resident born in 1980 or later (and remain a Singaporean citizen or Singapore Permanent Resident).

Main objective is to siphon your money.

more of to subsidise those ppl with lots of problems

undemocratic way of doing this

imagine if ur jobless and u still get hit by this, its unconstitutional
the only way they are implementing this is by arguing they are taxing u

but if ur jobless and no income, whats there to tax?

sue the government!

 

[item2sell]

more of to subsidise those ppl with lots of problems

undemocratic way of doing this

imagine if ur jobless and u still get hit by this, its unconstitutional
the only way they are implementing this is by arguing they are taxing u

but if ur jobless and no income, whats there to tax?

sue the government!

Someone has to pay for the India scam.

 

[BBCWatcher]

undemocratic way of doing this

Wow, OK. In other words, Singapore Permanent Residents cannot vote, thus CareShield Life should only be compulsory for Singaporean citizens who voted (in a large majority) for the members of Parliament who introduced CareShield Life. Your logic is impeccable!

 

[moolala]

Wow, OK. In other words, Singapore Permanent Residents cannot vote, thus CareShield Life should only be compulsory for Singaporean citizens who voted (in a large majority) for the members of Parliament who introduced CareShield Life. Your logic is impeccable!

eh by democratic, i mean individual consent to take part in this, pretty obvious

why are u linking to voting? consent means voting?

 

[fr33d0m]

eh by democratic, i mean individual consent to take part in this, pretty obvious

why are u linking to voting? consent means voting?

What consent? Does government need your consent to ask you to pay tax?

The majority has given the government the mandate to do what it sees fit.

 

[moolala]

What consent? Does government need your consent to ask you to pay tax?

The majority has given the government the mandate to do what it sees fit.

well tax is on ur income, so if taxed on no value, what's the amount?

if its 0, then why do u still need to pay this premium??

 

[BBCWatcher]

eh by democratic, i mean individual consent to take part in this, pretty obvious

So taxes should be voluntary? How about National Service? Cleaning up your dog's waste when you take your dog out for a walk?

why are u linking to voting? consent means voting?

Well, what do you mean by "undemocratic"? Electing representatives in Parliament in a popular vote is a democratic exercise of power, right?

 

[BBCWatcher]

The majority has given the government the mandate to do what it sees fit.

Right, including certain universal and near-universal obligations, including mandatory minimum insurance, with premium subsidies for those who cannot pay them.

It's at least very hard to find a democratically elected representative form of government that doesn't have universal or near-universal mandatory minimum insurance programs, including for disability. (Singapore is very late to this particular party.) Can you cite any examples elsewhere?

 

[moolala]

So taxes should be voluntary? How about National Service? Cleaning up your dog's waste when you take your dog out for a walk?


Well, what do you mean by "undemocratic"? Electing representatives in Parliament in a popular vote is a democratic exercise of power, right?

haiz trying to jump topics
here I am arguing that jobless ppl without income shouldn't have to pay these premium because when u tax on nothing, u get 0

there u are jumping to this and what not, voluntary or not, introducing new concepts and conflating issues to confuse

democratic doesn't mean strictly to voting only
the system can be undemocratic because u didn't consent to it

it's really that simple

 

[BBCWatcher]

haiz trying to jump topics
here I am arguing that jobless ppl without income shouldn't have to pay these premium because when u tax on nothing, u get 0

You used the word "undemocratic." A hypothetical premium levied on the indigent could certainly be cruel, but it's not necessarily undemocratic.

Of course the fact is that there are premium subsidies available, including up to full premium waivers ("Additional Premium Support") in hardship cases.

democratic doesn't mean strictly to voting only
the system can be undemocratic because u didn't consent to it

Oh really? So it's your view that a system is "undemocratic" (the word you chose) if the circa 3 million adult Singaporean citizens didn't unanimously agree to a particular policy? Really?