Protection coverage for the elderly

[sohguanh]

Make sure ur address diff from them. Then anything happen they just go C class ward. Bills they pay themselves. Cannot pay also gahmen will look for them, wun disturb u.

You sure or not won't disturb? This is Spore govt not Msian govt leh they so easy let you sponge on them?

Why I know is got some govt agency something like social worker who will go check family 18th generation to determine you really no monies need state benefit and subsidy. My close relatives experience.

But if you are not blood related say the elderly children maybe can siam pay monies.

 

[8zaoyu]

They are staying with their only unmarried child who bought a resale 5-rm. Your ideas are great and its what I advocate every retiree to do, but unfortunately, its too late in my in-law case becoz the bulk of the sales proceeds is already gone sighzzzz.

I do not know how to pity folks who cannot hold on to their assets and got squandered, scammed , gambled, go into "businesses" with "friends", probably elderlies think their "big flat" sold till $1mil is too good to be true. Too elderly to understand inflation and their kiddoes cannot be selling a flat to get another flat without sacrificing a long span of life in a job to retire easily and inexpensively, etc.
Well yr parents'in laws' losses are other hungry peoples' gains. If you can downgrade/stop ISP and further losses, do it now and leaving your addresses to yourselves like what the HWZers saying here is wise advice - as means testing for future subsidies (last resort Medifund) is based on personal address, savings, past sales profits, etc.

 

[sohguanh]

No they cannot touch your money.
They can only deduct from whatever is under their name. So after they die, whatever inheritance under them will be used to pay govt debts first. If nothing left then too bad.

Thanks for sharing so can the elderly file for Parents Maintenance Act to sue children don't support them? Assume their own monies use finish already?

 

[DevilPlate]

No they cannot touch your money.
They can only deduct from whatever is under their name. So after they die, whatever inheritance under them will be used to pay govt debts first. If nothing left then too bad.

So which means the single unmarried staying with them goto take up all future debts alone even though there are other siblings?

No wonder broke elderly folks always kena kick around like a ball

 

[sohguanh]

So which means the single unmarried staying with them goto take up all future debts alone even though there are other siblings?

No wonder broke elderly folks always kena kick around like a ball

Elderly folks can invoke Parents Maintenance Act to seek justice for their situation. They will go check all their children history to determine who shall support. Unmarried single rugi becuz you no spouse or children to feed. So to play this game is to be unemployed. Then you fight with your married siblings who got lesser monies and see will need to feed parents or not.

 

[qhong61]

No they cannot touch your money.
They can only deduct from whatever is under their name. So after they die, whatever inheritance under them will be used to pay govt debts first. If nothing left then too bad.

Cannot touch children medisave and money?

 

[8zaoyu]

So which means the single unmarried staying with them goto take up all future debts alone even though there are other siblings?

No wonder broke elderly folks always kena kick around like a ball

That is why under Senior Priority Scheme, seniors can get 2 rm flexi flat!
Met so many elderlies, said proudly "better than pte condo", some can walk but got wheeled round the heartlands with their personal-to- them "helper". This type of experienced elderly helper does not like a houseful of chores and cramped with kids as well.
And if elderlies learn to make friends with other similar outcome seniors from various storied backgrounds, they learn to look out for each other. Anyway old then die, not so scary one, old and very sick don't die, even scarier. Learning to "let go". Basic MediShieldLife affordable for most families can liao, at least a clean hospital bed to die. If all HWZers here wants 1 bed pte class bed on ISP when very old, I siam you all, I very happy from low ses background, lives in 1-rm rental (cos father always jobless) when very young.
HWzers, you very drama leh, carry on leh

 

[sohguanh]

MPA is not without reason. U only have to pay for their very basic needs and medical bills. As long as they live alone no income, state welfare will handle most of their basic needs. Medical bills got 3M. They also can liquidate their assets like hdb lease buyback scheme. After deduct everything, MPA can make u pay abit nia.

You do know depend your parents is which era if very early those never study education so cleaner job for e.g whole life you think their 3M a lot? So depend your parents working that time do what job earn how much translate to their 3M got how much

 

[zi]

I do not know how to pity folks who cannot hold on to their assets and got squandered, scammed , gambled, go into "businesses" with "friends", probably elderlies think their "big flat" sold till $1mil is too good to be true. Too elderly to understand inflation and their kiddoes cannot be selling a flat to get another flat without sacrificing a long span of life in a job to retire easily and inexpensively, etc.
Well yr parents'in laws' losses are other hungry peoples' gains. If you can downgrade/stop ISP and further losses, do it now and leaving your addresses to yourselves like what the HWZers saying here is wise advice - as means testing for future subsidies (last resort Medifund) is based on personal address, savings, past sales profits, etc.

Bit of sidetrack from the topic.

I am just sharing a story. kiddo and family and parent currently staying at 2 addresses. Pooled together and applied 3 gen flat. Now the 3-gen queue is a good number and got a good unit in pre Plus etc scheme. But kiddo and family changed mind. Do not intend to stay with slight dementia parent.

So it is better to keep address to yourselves and keep your bank accounts secret from kiddo and family.

 

[zi]

Back to the topic. How about income's silvercare insurance ? more like P.A type

 

[qhong61]

Back to the topic. How about income's silvercare insurance ? more like P.A type

Personal accident only?

 

[DevilPlate]

Bit of sidetrack from the topic.

I am just sharing a story. kiddo and family and parent currently staying at 2 addresses. Pooled together and applied 3 gen flat. Now the 3-gen queue is a good number and got a good unit in pre Plus etc scheme. But kiddo and family changed mind. Do not intend to stay with slight dementia parent.

So it is better to keep address to yourselves and keep your bank accounts secret from kiddo and family.

Life is liddat, spouses are less willing to take care of in-laws.

 

[zeroX26]

Life is liddat, spouses are less willing to take care of in-laws.

It really depends on the type of in-laws. If you have those whose presence will contribute to the strengthening of the marriage and family, these are certainly welcome. But if you have self-entitled in-laws like mine, is best to keep them away with a 100-m pole coz there's a good chance their presence in your life might just destroy your marriage.

 

[zi]

Personal accident only?

At those super senior age e.g. pioneer gen, even the most basic medishield life is $3k close to $4k right now. The possibility of annual book in to hospital is like 99.9% . At the hospital, they also don't want to do any big expensive treatment at that age. So unlikely to incur fantastic bill unless really want to be saved and what kind of life after that ? Would private plans be worth then ?
How about annuity plans with a bit of cash for hospitalization ?

Are you looking at universal life plan? Protect money ?

 

[CrashWire]

At those super senior age e.g. pioneer gen, even the most basic medishield life is $3k close to $4k right now.

It's $2,074 before subsidies, unless I'm missing something?

https://www.moh.gov.sg/healthcare-s...premiums-and-subsidies/premium-subsidy-tables

 

[8zaoyu]

Back to the topic. How about income's silvercare insurance ? more like P.A type

whatever insurance, premiums by age group one, whether cover existing illnesses or not also. Above 60 yrs old, monthly premiums very jialat, some people bite the bullet cos had paid so long and also still working on re-employment till 68 in corporate organisations
PS. Silver bonus from local country's social security is different matter and criterias - go google

 

[qhong61]

At those super senior age e.g. pioneer gen, even the most basic medishield life is $3k close to $4k right now. The possibility of annual book in to hospital is like 99.9% . At the hospital, they also don't want to do any big expensive treatment at that age. So unlikely to incur fantastic bill unless really want to be saved and what kind of life after that ? Would private plans be worth then ?
How about annuity plans with a bit of cash for hospitalization ?

Are you looking at universal life plan? Protect money ?

Are u agent?
What is protect money?

 

[qhong61]

whatever insurance, premiums by age group one, whether cover existing illnesses or not also. Above 60 yrs old, monthly premiums very jialat, some people bite the bullet cos had paid so long and also still working on re-employment till 68 in corporate organisations
PS. Silver bonus from local country's social security is different matter and criterias - go google

Insurance coverage when reached 60 all expired.

 

[BBCWatcher]

Back to the topic. How about income's silvercare insurance ? more like P.A type

Personal accident only?

Yes, "Silvercare" is a strange policy. I'm not a fan.

A CareShield Life supplement seems like a better overall approach if you need insurance. For example, if a stroke results in disability then that's probably a valid CareShield Life/CareShield Life supplement claim. For Silvercare a debilitating stroke would not be claimable. The life and financial impacts could be effectively the same.

 

[harky]

How much need to top up for upgrade my mom eldershield to careshield.? She fully pay eldershield 300