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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.
Insurance plan administered by the Singapore government.
Receive monthly payouts if you become severely disabled.
Compulsory for Singapore citizens and PRs.
Source: Ministry of Health (Singapore)
You can upgrade your basic CareShield Life with supplement plans.
What We Think
As CareShield Life is mandatory,
upgrade using supplement plans to maximize the benefits and coverage.
What We Think
Payout from basic CareShield Life is minimal and may not be sufficient if you become severely disabled.
What We Think
No cash required. Put your MediSave to work rather than having it do nothing.
What We Think
Supplements are Singapore government 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.