If I am currently on ESH300/400 and choose to upgrade to CareShield Life, can I withdraw or downgrade back to ESH300/400 subsequently?

Singapore Citizens and Permanent Residents born between 1970 and 1979 will be auto-enrolled in CareShield Life from end-2021, if they are currently insured under the ElderShield 400 scheme and are not severely disabled at the point of auto-enrolment. You can opt out of CareShield Life by 31 Dec 2023 if you do not wish to join the scheme. You will automatically be placed back onto your ESH400 scheme.

Those who are not auto-enrolled can choose to join CareShield Life from end-2021 onwards. If you are an ElderShield insured in this group, you will have a 60-day free-look period from the commencement of your CareShield Life coverage, for you to consider your decision. If they choose to withdraw, you will be given a full premium refund and automatically be placed back onto your original ElderShield 300/400 scheme.

CareShield Life insureds will not be able to withdraw from the scheme after the applicable opt-out/free-look periods.

The Government will extend means-tested subsidies and Additional Premium Support to those who join CareShield Life, to ensure that no one who joins the scheme loses coverage due to financial difficulties.