The ElderShield scheme collects premiums based on the insured’s age as at their last birthday. Premiums are deducted annually on your policy renewal date, with the last deduction scheduled for the policy renewal date after your 65th birthday.

For example, the annual premium payable for a 40-year-old Male (date of birth: 30 June 1978) who chooses to join ElderShield 400 on 30 Apr 2019 is $175 as he would still be age 40. The annual premium payable would have to be paid until age 65, i.e. 26 premium payments from age 40 to 65, including the policy renewal date where the insured is 65 i.e. 30 Apr 2044.