How the ElderShield scheme works?
Here is how much you can claim from ElderShield as long as your loved one meets the eligibility criteria to receive payouts.
ElderShield 300 | ElderShield 400 | |
If the care recipient joined ElderShield between 30 September 2002 and 29 September 2007 | If the care recipient joined ElderShield between 30 September 2007 and 31 December 2019 | |
Payout Amount | $300 a month | $400 a month |
Payout Duration | Up to 60 months | Up to 72 months |
After you submit your application, we may take up to four weeks to process it. You will be informed about the outcome in writing via mail.
Once approved, payouts will be made to the nominated bank account in the following month. This may include payouts from the month the application was submitted. The payouts will be reflected as “ElderShield” in your bank statement.
In the event of any conflict, inconsistency or domestic dispute regarding the Nominated Bank Account, the payouts may be suspended or ceased.
If you have submitted a new application to apply for new schemes or update your existing schemes with AIC, we may update your nominated bank account to the latest bank account details provided in your submission.
Please click here for more information on ElderShield.
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