Should I upgrade to/join CareShield Life? What should I base my decision on?

The Government encourages Singapore Citizens and Permanent Residents born in 1979 or earlier, and not severely disabled, to consider joining CareShield Life to ensure they have basic protection for long-term care.

To ensure that CareShield Life premiums are affordable, the Government will provide several premium support measures for those born in 1979 or earlier, when the scheme is made available to them in end-2021:

Means-tested premium subsidies of up to 30% of CareShield Life premiums, to help lower- to middle-income households.

Participation incentives* of up to $2,500 for Singapore Citizens born in 1979 or earlier, if they join within the first two years the scheme is available to them for sign-ups from end-2021.

Additional participation incentives* of $1,500 for Merdeka and Pioneer Generation citizens within the first two years the scheme is available to them for sign-ups from end-2021.

Additional Premium Support for Singapore Citizens who are unable to pay their CareShield Life premiums even after premium subsidies, so that no one will lose coverage under CareShield Life due to an inability to pay premiums.

*Participation incentives will be used to offset the annual premiums payable, to be spread over 10 years of premium payment.

You may wish to refer to the CareShield Life premium calculator at careshieldlife.gov.sg/premium-calculator for information on estimated premiums and premium support. You may also wish to discuss with your financial advisor on your healthcare and financial planning.

[Note: The CareShield Life premium calculator is not available for those born in 1980 or later.]