How will Government administration of ElderShield benefit ElderShield insureds?
The transfer of administration allows the Government to administer the ElderShield scheme on a not-for-profit basis, and to use any excess of premiums over claims for insureds’ benefit. The Government, as a single administrator, can achieve better consistency in the implementation of underwriting and claims processes across ElderShield insureds.
It also allows ElderShield insureds to upgrade to CareShield Life more smoothly.