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 seamlessly.
This information is sourced from CPF
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