Is it worth taking up Careshield Life? Annual premium rose by almost 2 times !

[LoaGong12]

MOH just sent me a letter and invites me to join CareShield Life. I straight away tears up the letter and throw it into the rubbish bin. Haha

are u one of those who dont buy travel insurance then when something does very wrong KPKB?

 

[purplewave]

why there ish no premium table

 

[hmyoth]

My grand aunty also bed ridden many years until the children talk to her softly that is time to go. And she really RIP after that n big relieve for the children financially n emotionally. This is what my mother told me.

 

[queriesonforum]

why there ish no premium table

https://www.straitstimes.com/singap...ns-more-coverage-and-benefits-next-year-under

If only can terminate policy at age 51

 

[plasticpistola]

I think several MPs raised the issue before. In 2018, they collected $3.3 billion but paid out $133 million from it's predecessor Eldershield.

Still up premiums? I really wonder what this scheme is really for when less than 5% of what is collected is paid out.

https://www.todayonline.com/singapo...dershield-show-positive-balance-chee-hong-tat

insurance damn good biz. but i expect better coming from the G....

 

[Joe Mahmood]

Saw an "invite" from CPF to sign-up Careshield Life.

Premium rose substantially. Mainly due to so-called better payout but essentially pooling with high-risk, low ses.

Heard it is not easy to be certified 3ADL difficulty to submit for payout.

If so, is Careshield Life worth it?

Related topic I guess...

https://forums.hardwarezone.com.sg/threads/gvgt-medishield-life-premiums-increased-by-35.7072835/

 

[Joe Mahmood]

Saw an "invite" from CPF to sign-up Careshield Life.

Premium rose substantially. Mainly due to so-called better payout but essentially pooling with high-risk, low ses.

Heard it is not easy to be certified 3ADL difficulty to submit for payout.

If so, is Careshield Life worth it?

Related topic I guess...

https://forums.hardwarezone.com.sg/...y-operate-liao-then-say-cannot-claim.7075183/

 

[purplewave]

https://www.straitstimes.com/singap...ns-more-coverage-and-benefits-next-year-under

thanks for this

 

[zueinder]

no wonder edmw so toxic..so many lao funker here always pretending to be young men.

 

[Niccolo Machiavelli]

Edmw bbfa have high risk of stroke and heart attack which may result in disability so should consider getting to avoid burdening family

This.

Sedentary BBFAs in edmw should sign up for CareShield Life because they are the at-risk group.

 

[bigrooster]

I did briefly read about it for fun see how it's going to bait sinkies? When it comes toward the premium table I saw it after simi discount needs to pay 9XX+ for that stupid policy. That's it I stopped reading it and tears it up. Haha

I read the entire letter. My premium after their 'discount' was $1,xxx +++. And if you read the fineprints, to receive the discount got condition one.

Then I tore up the letter and binned it.

 

[semiret]

I read the entire letter. My premium after their 'discount' was $1,xxx +++. And if you read the fineprints, to receive the discount got condition one.

Then I tore up the letter and binned it.

Think I'm older than you plus they checked my CPF knows that I'm not working. That could be the reason why my premium is lower than you. Ya they still said must done some steps to apply before some dateline to see whether they'll accept my application or something? But I really not interested in such policy. Haha

 

[8zaoyu]

It depends on whether you think the payout helps or not, if it's $600 monthly as someone mentioned, to me it's just good to have, not die die must have. So I didn't take it up.

It's for the same reason that I opted out of eldershield back then.

When my parent had stroke, she spent $1+k monthly on her medical supplies excluding getting a maid in our place. Nowadays, you pay premiums from 40 or 30 yrs till 67 yrs old , , help to cover a maid monthly fees partially?
That is the letter that just came last week reminds us boomers to join if we were not covered with ElderShield yet. I took the advice but my spouse took the Eldershield still. High risk taker with passive income, likely instant to short-term disablity. Somehow God let females linger and longer with disabilities longer term, "lao-bu-si", haize

 

[queriesonforum]

Might as well have the premiums cost stay in our cpf/ banks. Flexibility of withdrawals without the 3 ADLs requirements. 3 ADLs may not be too common to the majority as we age. I didn't read up on news saying that upon any Careshield Life/ Eldershield claims, can cease paying premiums

 

[bigrooster]

Think I'm older than you plus they checked my CPF knows that I'm not working. That could be the reason why my premium is lower than you. Ya they still said must done some steps to apply before some dateline to see whether they'll accept my application or something? But I really not interested in such policy. Haha

Before insurance claim, the certification is not as easy as thought one.

Though each individual has own preference, but foregoing this and put our money to work for us to generate that extra $600+/month is also one of the options.

 

[MaskedRider555]

it is hard to say, if anything happen , upgrade is good

if nothing happen, waste of money

 

[MyWill]

I think several MPs raised the issue before. In 2018, they collected $3.3 billion but paid out $133 million from it's predecessor Eldershield.

Still up premiums? I really wonder what this scheme is really for when less than 5% of what is collected is paid out.

https://www.todayonline.com/singapo...dershield-show-positive-balance-chee-hong-tat

Where the surplus go?

 

[NTB2DO]

When my parent had stroke, she spent $1+k monthly on her medical supplies excluding getting a maid in our place. Nowadays, you pay premiums from 40 or 30 yrs till 67 yrs old , , help to cover a maid monthly fees partially?
That is the letter that just came last week reminds us boomers to join if we were not covered with ElderShield yet. I took the advice but my spouse took the Eldershield still. High risk taker with passive income, likely instant to short-term disablity. Somehow God let females linger and longer with disabilities longer term, "lao-bu-si", haize

I would say that between Eldershield and Careshield, careshield provides better coverage. Not sure about whether Eldershield is more worth it than Careshield though because I would expect Careshield premium to be higher for offering better coverage.

 

[NTB2DO]

Where the surplus go?

The insurance companies who offered the service I think.

 

[Taloona]

It's not that hard if you really have difficulty in those areas, managed to get certified for both parents.

Only thing as you mentioned, once it happened, very likely the remaining period to draw is very short.

My neighbour's hubby got three strokes over ten years. First stroke was mild. Second and third strokes robbed him of his mobility and partial eye sight. He is still alive today. Wife had to quit her job and takes care of him, with a helper. However, they seemed to have a very comfortable retirement nest egg as they could still afford a car at this stage. Wife drives him for all his medical appointments and outings. I think you must really plan your finances well. Care shield life payouts is just an extra, to help defray a helper's costs perhaps. It won't be enough to pay for medical fees and emergencies, adult diapers, special diet such as meal replacement drinks, nutritious and wholesome food etc.