CareShield Life premiums increase annually to support the annual increases in payouts, which help protect the value of payouts over time and keep up with rising long-term care costs.

 

The CareShield Life Council regularly reviews these trends and advises the Government on CareShield Life premium and payout adjustments in accordance with an actuarially sound adjustment framework. The Government will consider affordability of premiums when reviewing the council’s advice on premium adjustments.