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Will the ElderFund payouts rise over time, like CareShield Life payouts?
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The regular increase in payouts for CareShield Life are supported by regular premium increases. Once an insured under CareShield Life makes a claim, the payout stays fixed.
ElderFund will be a government financial assistance scheme, funded through taxes. Eligible Singapore Citizens can receive up to $250 per month in cash. There will be no cap on payout duration for the duration of their severe disability. The Government will review the payout amount over time to ensure that payouts remain relevant for beneficiaries.
This information provided here is sourced from the MOH website.
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