CareShield Life Supplement Plans

Enjoy enhanced long-term coverage against long-term disability.

Get 20% Perpetual Discount for Singlife's CareShield Life Supplement Plans!*

Key features for
CareShield Life Supplements

Aviva: Singlife CareShield Standard & Singlife CareShield Plus | NTUC Income: CareSecure

Higher lifetime cash payouts from $600 to $5,000 payable per month

Option to choose increasing payouts

Extra protection with Lump Sum Support, Dependant Care Benefit and Waiver of Premiums

Enhance cover with no cash outlay by using your MediSave

Online application

Do I need a
CareShield Life Supplement plan?

Did you know that you may already be covered under the basic CareShield Life scheme? All Singaporeans and PRs aged 30 and 40 as at 1 October 2020 were auto-enrolled into the Scheme.

Although the benefits under CareShield Life have improved significantly from the ElderShield scheme, $600 per month escalating at 2% p.a.* may not be sufficient when you are not able to earn an income.

Use your MediSave to get additional cover! NTUC Income and Singlife are now offering plans that can enhance your CareShield Life cover. Additional benefits include:

Pay out upon the inability to perform 2 ADLs instead of 3 ADLs
Increasing the monthly payout to up to $5,000 per month
Pegging the payout to inflate at up to 3% per annum
Other benefits like a one-time lump sum benefits, rehabilitation benefits, caregiver benefits or a dependant care benefits.
Use up to $600 per year from your MediSave to pay the premiums.

* 2% p.a. escalation for the first 5 years. The escalation rate after that has not been announced.

What is CareShield Life?

National Long-Term Care Insurance Scheme

Pays out if not able to perform 3 out of 6 ADLs

Who are covered

- Compulsory for those born 1980 or later
- Those born 1979 or earlier can opt-in. Opt-in available towards the end of 2021.

Payout

- Starts from $600/month
- Increase of 2% p.a. for the first 5 years

Premiums

- Begins from age 30 to 67
- Fully payable by Medisave
- Starts at $206 (male) & $253 (female) at age 30

CareShield life vs ElderShield

Careshield Life pays out for your lifetime. ElderShield for 6 Years. The monthly payouts are at least 50% higher than Eldershield.

Case Study - Payout of Monthly Cash Benefit

1. Mr A (age 35), doubles his disability income payout from $600 to $1,200 with Singlife's CareShield Life Supplement plan.He also wants to ensure he can start receiving disability benefits upon 2 ADLs.

2. After considering the various plans, he choses to go for Singlife's CareShield Plus and pays $480 per year (after 20% discount) using his MediSave (hence $0 cash outlay).

Singlife

CareShield Plus

Monthly Payment (after 20% discount) : $480/year

Cash outlay: $0

3. These premiums are payable up to age 67 and will give him lifetime disability income cover.

4. In the event of disability, Mr A can rest easier knowing that at $1,200 can cover the cost of an additional caregiver if he needs to hire a domestic helper.

What does a CareShield Life Supplement cover include?

Features
Features	Basic CareShield Life	Singlife CareShield Standard	Singlife CareShield Plus	Care Secure
Disability definition: Inability to perform at least	3 out of 6 ADL	3 out of 6 ADL	2 out of 6 ADL	2 out of 6 ADL
Monthly benefit duration (as long as you meet the Disability definition above)	Lifetime	Lifetime	Lifetime	Lifetime
Monthly benefit amount	Starting at S$600 per month in 2020, escalating at 2% p.a. for the first 5 years	S$200 to S$5,000 (in increments of S$100) in addition to CareShield Life’s payout	S$200 to S$5,000 (in increments of S$100) in addition to CareShield Life’s payout	S$1,200 to S$5,000 (in increments of S$100) inclusive of CareShield Life’s payout
Availability of increasing payouts	Payouts increase at 2% p.a. until age 67, or when a claim is made, whichever is earlier	Choice of: Level payouts Increasing at a fixed rate of 2% p.a.* Increasing at a fixed rate of 3% p.a.* *Note: Until the end of the premium term, or when a claim is made, whichever is earlier.	Choice of: Level payouts Increasing at a fixed rate of 2% p.a.* Increasing at a fixed rate of 3% p.a.* *Note: Until the end of the premium term, or when a claim is made, whichever is earlier.	Level payouts only
Premium term	Pay up to Age Last Birthday 67 Note: Premiums will increase over time to support payout increases	Choice of: Pay up to Age Last Birthday 67 Pay up to Age Last Birthday 97 Note: Premiums will increase at 0%, 2% or 3% p.a., the same rate you choose for your increasing payout.	Choice of: Pay up to Age Last Birthday 67 Pay up to Age Last Birthday 97 Note: Premiums will increase at 0%, 2% or 3% p.a., the same rate you choose for your increasing payout.	Choice of: Pay up to Age Last Birthday 67 Pay up to Age Last Birthday 84
Product Brochure	-	Singlife CareShield Standard	Singlife CareShield Plus	Care Secure Brochure 1 Care Secure Brochure 2

Other Benefits
Other Benefits	MyLongTermCare	MyLongTermCare Plus	Care Secure
Lump Sum Support Benefit	A one-time benefit that is 3 times of your first monthly benefit upon inability to perform 3 out of 6 ADLs	A one-time benefit that is 3 times of your first monthly benefit upon inability to perform 2 out of 6 ADLs	A one-time benefit that pays: a. 3 times of your disability benefit upon inability to perform 2 out of 6 ADLs b. 6 times of your disability benefit upon inability to perform 3 out of 6 ADLs
Rehabilitation Benefit: When your condition improves but you’re still unable to perform 2 ADL	50% of your last monthly benefit, for as long as you’re unable to perform 2 ADL	Nil	Nil
Dependant Care Benefit	An additional 20% of your monthly benefit, for up to 36 months if you have a child 22 ANB and below at the point of claim.	An additional 20% of your monthly benefit, for up to 36 months if you have a child 22 ANB and below at the point of claim.	An additional 25% of your monthly benefit, for up to 36 months if you have a dependant including a child, spouse, parents or parents in-law
Caregiver Relief Benefit: When you are receiving the monthly benefit or Rehabilitation Benefit	An additional 60% of your monthly benefit for up to 12 months	An additional 60% of your monthly benefit for up to 12 months	Nil
Waiver of Premium	Future premiums are waived, for as long as you’re unable to perform at least 1 ADL	Future premiums are waived, for as long as you’re unable to perform at least 1 ADL	Future premiums are waived, for as long as you’re unable to perform at least 2 ADL and are eligible to receive disability benefits payment
Death Benefit: When death occurs while you’re receiving the disability benefits	One-off payout of 3 times of your last paid monthly benefit or Rehabilitation Benefit	One-off payout of 3 times of your last paid monthly benefit or Rehabilitation Benefit	One-off payout of 3 times of your Disability Benefit

Can MediSave be used to pay for CareShield Life Supplements?

Yes! MediSave can be used to pay for CareShield Life Supplements so you do not always have to use cash to enhance your CareShield Life benefits.

Premiums for the CareShield Life Supplements can be paid by cash or from your own MediSave accounts. You can also use your family members' MediSave accounts to pay for your CareShield Life Supplements (i.e. your spouse, parents, children, siblings or grandchildren).

There is however, a limit to the MediSave amount you can use and this is set at a limit of $600 per calendar year per person insured.

Any premiums in excess of this $600 amount will still have to be topped up in cash.

How much
coverage should you buy?

This really depends on the following key factors:

How much monthly disability income benefit will you need
Do you want this disability income benefit to increase? You can select a monthly benefit that does not increase, or one that increases at a 2% p.a. or 3% p.a. rate
How long do you want to pay premiums for? Choosing to pay premiums for a shorter term will mean that you will not need to worry about servicing a premium in your retirement years. However, your immediate yearly premiums will be higher.

Here are some common questions about CareShield Life Supplements

1. Who is covered by CareShield Life now?

As long as you are born 1980 or later (aged 40 or below in 2020), you are automatically enrolled into CareShield Life. Everyone is covered regardless of pre-existing disability or financial ability.

For those born 1979 or earlier (aged 41 and above in 2020), you can choose to enroll into CareShield Life in 2021, if not severely disabled. There is no maximum age limit and those with medical conditions can join. Those who are on Eldershield 400, and not severely disabled will be automatically enrolled but can opt out by 31 Dec 2023.

2. What is basic CareShield Life?

CareShield Life is basically a National Long-Term Insurance scheme administered by the government that payouts when you are severely disabled. Monthly payouts start from $600 per month and is targeted to increase 2% p.a. for the first 5 years. You will pay for premiums from age 30 to 67 and premiums starts at $206 for males and $253 (female) at age 30. This is fully payable from Medisave.

3. When does basic CareShield Life pay out?

Basic CareShield Life pay outs when you are severely disabled. Basically, severe disability is defined as the inability to perform 3 out of 6 Activities of Daily Living (ADLs). The 6 ADLs are Washing, Dressing, Feeding, Toileting, Mobility and Transferring.

4. What does a CareShield Life Supplement cover include?

CareShield Life supplement payouts upon the inability to perform 2 out of 6 ADLs. You also have the flexibility to increase the monthly payout up to $5,000 per month, and the payout can be pegged to inflate up to 3% per annum. Other benefits include a one-time lump sum benefits, rehabilitation benefits, caregiver benefits or a dependent care benefits.

5. Can you use Medisave to pay for CareShield Life Supplements?

Yes, you can use up to $600 per calendar year per person insured to pay for the premiums. You can use your family member’s Medisave accounts to pay for your CareShield Life Supplements. The definition of family members in this instance is your spouse, parents, children, siblings or grandchildren.

6. How do I pay for CareShield Life Supplements if my premiums exceed $600?

Premiums for the CareShield Life Supplements can be paid by cash or from your own Medisave accounts.

7. Is there any difference between buying the CareShield Life Supplement Plans through InsureDIY or from other distributors?

InsureDIY is distributing the same supplement plans as Singlife or NTUC Income. We have an easy online application process where you can compare the supplement plans side by side. Also, we service our customers as a team, so you can be rest assured that your policy will be in good hands.

8. I have more questions about CareShield Life. Can I speak with someone?

We would love to hear from you! Please feel free to contact us at:

Email: [email protected]
Text only: +65 8241 0688 (Mon to Fri: 9am - 5pm)
Calls only: + 65 3138 6784 (Mon to Fri: 9am - 5pm)
Whatsapp Only: +65 9151 5963 (Mon to Fri: 9am - 5pm)

*for premiums above $500

InsureDIY is a Broker licensed by the Monetary Authority of Singapore and is an Exempt Financial Adviser. This advertisement has not been reviewed by the Monetary Authority of Singapore.