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How often will the CareShield Life premiums increase?
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To give Singaporeans greater certainty in the first five years, payouts and premiums* for CareShield Life will each increase by 2% per year.
An independent council will be set up to regularly review these trends and advise the Government on CareShield Life premium and payout adjustments in accordance with an actuarially sound adjustment framework. The Government will consider affordability of premiums when reviewing the council’s advice on premium adjustments.
*2% increase of premiums per year excludes GST.
This information provided here is sourced from the MOH website.
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