Why was the premium payment term extended to age 67?
Starting the CareShield Life premium payment duration at age 30, and ending at age 67 lengthens the premium payment duration. A longer duration of premium payment allows insureds to spread premium payment over more years, so as to reduce annual premiums payable.
The premium payment end age might be subsequently reviewed to take into consideration the changes in the re-employment age. Ample notice will be given to cohorts who are affected by any changes to the premium payment end age.
Related questions
Why not extend premium payment for life, like MediShield Life?
Why is there a need to start CareShield Life earlier at age 30? How was the age decided?
What will be the CareShield Life premiums when a 30-year-old today reaches 67 years old? Is the increase fixed at 2% a year?
I am born in 1979 or earlier. Do I need to back pay premiums from age 30 to join CareShield Life?
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