fbpx

Upgrading Your CareShield Life

Together with our community of financial planning experts, we have put together a special consultation for CareShield Life and whether you should consider upgrading it.

What Is CareShield Life?

Source: CareShield Life (Ministry Of Health)

Insurance plan administered by the Singapore government.

Receive monthly payouts if you become severely disabled.

Singapore citizens and PR born in 1980 or later are automatically covered on turning age 30.

Covered for life once you have paid all your premiums.
Receive payouts when you are unable to do at least 3 out of 6 ADLs (Activities of Daily Living).

Washing

Dressing

Feeding

Toileting

Mobility

Transferring

Source: CareShield Life (Ministry Of Health)

Why Upgrade Your CareShield Life?

You can upgrade your basic CareShield Life with supplement plans.

Singapore citizens & PR are automatically enrolled in CareShield Life upon reaching age 30.

What We Think

As CareShield Life is mandatory,
upgrade using supplement plans to maximize the benefits and coverage.

1 in 2 Singaporeans aged 65 could become severely disabled.

What We Think

Payout from basic CareShield Life is minimal and may not be sufficient if you become severely disabled.

Pay premiums for supplement plans using MediSave up to a limit of $600 per calender year per person insured.

What We Think

Put your MediSave to work rather than having it do nothing.

Supplement plans are MediSave approved.

What We Think

Trusted & reliable. Upgrade without worry.

Source: CareShield Life (Ministry Of Health)

What Are CareShield Life Supplement Plans?

Supplements plans are MediSave approved plans which complement your basic CareShield Life plan.

Lower criteria to claim benefits

Receive payouts if you are unable to do at least 1 ADLs (Activities of Daily Living) instead of 3 under the basic CareShield Life Plan.

Receive additional monthly payout of $200 to $5,000.

Basic CareShield Life payout is only around $600.

Receive an additional lump sum payout.
Receive additional benefits for caregiver and dependents.

Source: CareShield Life Supplement Plans, Comparison of Supplement Plans

Why Meet Up?

Here at MoneyGrowth.SG, we believe that everyone should have free access to good financial planning advice. Hence, we have put together a community of trusted experts in financial planning.

All our community experts are:

  • Bound by the rules of conduct set by MoneyGrowth.SG. This means no high-pressure sales tactics as this violates the spirit of the MoneyGrowth community. Please report any community expert that does so.
Here is what you can expect when you meet up with one of our community financial planning experts:

1.

Find out and learn which CareShield Life supplement plan is most suitable for you based on your needs and requirements.

2.

Learn how to sign-up for a CareShield Life supplement plan to upgrade your CareShield Life.

3.

Our community expert will answer any questions you might have regarding CareShield Life, insurance or financial planning related topics.

4.

Fully non-obligatory and no strings attached.

Schedule A Meet-up

Approval Code: 907/06/23