To ensure sustainability and affordability of CareShield Life, an independent CareShield Life Council and government, will consider the prevailing trends and regularly advise the Government on adjusting the premiums and payouts in line with an actuarially sound adjustment framework.

 

Hence, the Government is unable to provide the total CareShield Life premiums payable for the full premium payment term, as actual future premiums and payouts will vary depending on the regular adjustments.

 

However, to provide Singaporeans with greater assurance and certainty, CareShield Life premiums* and payouts increment have been fixed at 2% per year for the first five years of scheme implementation. The Government will also publish any relevant information on the premiums and payouts adjustment when available.

 

*2% increase of premiums per year excludes GST.