BEST CARESHIELD LIFE SUPPLEMENT

What is a CareShield Life Supplement?

CareShield supplementary plans are offered by private insurance companies to provide additional monthly disability cash payouts on top of CareShield life’s basic benefit of $600 per month.

You can utilise up to $600 per year per person from your CPF MediSave to pay for the CareShield Life supplement. If there is an excess of premiums beyond $600, the remaining will be payable in cash.

Why is long term disability benefit important?

An estimated 50% of Singaporeans over the age of 65 could become severely disabled in their lifetime. And out of those, three in 10 could live with severe disability for 10 years or more. Source: MOH

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What is a CareShield Life Supplement?

CareShield supplementary plans are offered by private insurance companies to provide additional monthly disability cash payouts on top of CareShield life’s basic benefit of $600 per month.You can utilise up to $600 per year per person from your CPF MediSave to pay for the CareShield Life supplement. If there is an excess of premiums beyond $600, the remaining will be payable in cash.

Why is long term disability benefit important?

An estimated 50% of Singaporeans over the age of 65 could become severely disabled in their lifetime. And out of those, three in 10 could live with severe disability for 10 years or more. Source: MOH

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There are three private insurers offering supplements

Aviva: MyLongTermCare & MyLongTermCare Plus
Great Eastern: Great CareShield Advantage & Great CareShield Enhanced
NTUC Income: Care Secure

Lifetime premium discounts: Aviva ( Terms & conditions )
Monthly payout on top of CareShield Life: Aviva and Great Eastern supplements payouts on top of the CareShield Life benefit, while NTUC Income plan payouts are inclusive.
Best waiver of premiums terms: Aviva & Great Eastern

Compare CareShield Life Supplements

AvivaIncomeGreat Eastern
Monthly Cash Benefit Upon2 out of 6 ADLs or 3 out of 6 ADLs2 out of 6 ADLs or 3 out of 6 ADLs2 out of 6 ADLs or 3 out of 6 ADLs
Premium Term OptionsUntil age next Birthday 68 and 98Until 67 and 84 age last birthdayUntil age last birthday 65 and 80 if entry age is 30 to 55

Until age last birthday 80 or 10 years if entry age is 56 to 64

Waiver of PremiumInability to perform at least 1 out of 6 ADLsInability to perform at least 2 out of 6 ADLsInability to perform at least 1 out of 6 ADLs
Payout periodLifetimeLifetimeLifetime
Initial Lump Sum Support Benefit (One Time)3 times the monthly benefit300% of Monthly Benefit if due to 2 out of 6 ADLs

600% of Monthly Benefit if due to 3 out of 6 ADLs

Not Applicable for CareShield Enhanced

3 times the monthly benefit payable upon inability to perform at least 1 ADL (CareShield Advantage)

Monthly Cash Benefit AmountS$200 to S$5,000 per month (in increments of S$100) on top of CareShield Life’s payoutS$1,200 to S$5,000 per month (in increments of S$100). CareShield Life monthly cash benefit is part of the total monthly benefit if claim is due to 3 out of 6 ADLsS$300 to S$5,000 per month (in increments of S$100) on top of CareShield Life’s payout

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Who is this for? 

CareShield Life’s coverage extends to Singaporeans and permanent residents, and includes those who don’t currently reside in Singapore. Coverage is mandatory. You will be automatically enrolled when you turn 30, regardless of pre-existing medical conditions and disability.

Born after 1990 (aged below 30 in 2020)

Coverage is mandatory. You will be automatically enrolled when you turn 30. Those with pre-existing severe disabilities at the point of reaching 30 will need to contribute once to join the scheme, and they can start receiving payouts.

Born between 1990-1980 (aged between 30-40 in 2020)

Coverage is mandatory. You will be automatically enrolled when you turn 30 or on 1st October 2020, whichever later.

Born in 1979 or earlier 

  • Born between 1970-1979 (aged 41 to 50 in 2020) with existing ElderShield and not severely disabled:

Coverage is optional. You will be automatically enrolled into CareShield Life from end-2021. However, you can opt out by 31st Dec 2023 if you do not wish to remain on CareShield Life. (More information to be announced later.)

  • Born in 1979 or earlier, without existing ElderShield:

You can choose to join CareShield Life from end-2021 onwards if you are currently not disabled. (More information to be announced later.)

Read more: All You Need To Know About CareShield Life

What does it do, and how does it benefit me?

CareShield Life provides a payout upon severe disability to help with the cost of long term care.

Severe disability is defined as needing assistance in at least three of these six activities of daily living: 

  1. Eating without help
  2. Getting dressed
  3. Using the toilet
  4. Bathing
  5. Moving or walking on flat ground
  6. Transferring from the bed to a chair, or vice versa.

Extracted from AIC.sg 

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Payouts are planned with inflation in mind

In 2020, the payout amount starts at $600/month. This amount will increase by 2% per year from 2020 to 2025.

After 2025, increments in payout and premiums will be recommended by an independent CareShield Life Council.

For each individual’s payout, the amount will be fixed at age 67 or when a successful claim is made, whichever occurs first.

Once a successful new claim is made, your monthly payout amount will remain fixed for the duration of your severe disability.

Source: Careshield Life

What’s the difference between ElderShield and CareShield Life?

ElderShieldCareShield Life 
Entry ageAge 40Age 30
Administered byPrivate insurers: Aviva, Great Eastern or NTUC Income.Singapore government
Monthly disability benefit$300 (Before Aug 2007)

$400 (Aug 2007 – Oct 2021)

$600 onwards
Escalating monthly disability benefitNoYes.

Monthly disability benefit will increase at a projected rate of 2% p.a. until the age of 67.

However, should an individual make a claim before age 67, the benefit will be fixed based on the payout at the year of claim.

Duration of pay-outsElderShield 300

60 months

ElderShield 400

72 months

For life
PremiumsFixed. Premiums are determined at the age of entryPremiums will increase over time.
Premium payment termAge 40 to 65Age 30 to 67
Premiums at entry age*ElderShield 300

Male: $151.67

Female: $194.26

ElderShield 400

Male: $174.96

Female: $217.76

CareShield Life

Male: $175

Female: $218

Option to opt out?YesNo
Eligibility for coverageExcludes individuals with pre-existing disabilitiesIncludes individuals with pre-existing disabilities

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For those born before 1980, should you switch to CareShield?

Read more here

What happens if I need to make a claim?

Step 1: Contact an MOH-accredited severe disability assessor to undergo a disability assessment

Refer to the list here.

  • Fees are waived for the first disability assessment, regardless of claim results.
  • Subsequent assessments are payable by the claimant but refundable upon a successful claim

The fees are as follows, if:

  • You visit an assessor’s Clinic: $100
  • An assessor visits your house: $250

Step 2: Claim application

You could submit the claim via any of the following methods:

You could apply for yourself or as a caregiver to a disabled person. It is recommended to nominate a caregiver’s bank account to receive the payout.
Refer to this guide if you need more information on how to proceed with your application on eFASS.

Should the care recipient lack mental capacity, please go through the Additional Guidance.

Source: AIC.sg

Singaporeans have a life expectancy of 84.8 years.

As you age, the risk of becoming disabled may also increase.

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How do you know if you have one already?

If you are not sure if you have a supplement, you could find out by following these steps.

  1. Go to cpf.gov.sg
  2. Log on using your Singpass.
  3.  Select “My Messages”
  4. Check for “CareShield Life/ElderShield” under the “Healthcare” section.

If you have a Supplement, this section will let you know the insurer you are covered under (i.e. Aviva, Great Eastern or Income).

Tip: Sync your insurance via Planner Bee to check the details on your CareShield life supplement. You will need your login credential to your insurer portal before you try to sync.

If you do not have any supplements, the CPF website will not reflect any information on supplements.

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