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Can there be lump sum payouts/death benefits/“No-claim Bonus” to incentivise healthy living/two Activities of Daily Living (ADLs) criteria for CareShield Life?
CareShield Life is designed to provide basic financial protection against long-term care costs through monthly cash payouts to insureds with severe disability to cover their ongoing costs. It is not designed or priced to cover payouts if insureds remain healthy.
If you wish to obtain additional coverage including lump sum payouts and death benefits, you can consider purchasing Supplements from the private insurers.
This information is sourced from MOH.
Related questions
Why can’t CareShield Life automatically reimburse long-term care costs like MediShield Life does for hospital bills?
Is the Government making it difficult to claim from CareShield Life (e.g. 3 Activities of Daily Living criterion) in order to profit?
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From other agencies
Can lump sum payouts, death benefits or "No-claim Bonus” be provided as incentives for healthy living or meeting the two Activities of Daily Living (ADLs) criteria under CareShield Life/ElderShield?
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Can there be lump sum payouts / death benefits / “No-claim Bonus” to incentivise healthy living / 2 ADL criteria for CareShield Life?
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