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Why do CareShield Life payouts stop increasing once insureds stop paying premiums e.g. when they make a claim or turn 67?



CareShield Life payout increases will need to be supported by premium adjustments, to keep the scheme sustainable. Those who wish to have payouts that increase for life may opt to purchase Supplements. Insurers may also wish to take note of CareShield Life features when designing Supplements. 

CareShield Life payouts should also not be seen in isolation, but complement existing Government subsidies, Government assistance schemes, community support, personal savings and family support, to better assist Singaporeans with their basic long-term care costs. They can also make monthly cash withdrawals of up to $200 from their and/or their spouse’s MediSave Account(s) under MediSave Care. 

For Singaporeans who are unable to pay for their care even after Government subsidies, CareShield Life payouts and personal savings, there are Government-funded safety nets such as MediFund or ComCare which can provide further assistance. 

This information provided here is sourced from the MOH website.

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