Why are CareShield Life premiums for females higher although their payouts are the same as males?

CareShield Life provides the same amount of expected benefits per dollar of premium paid for both women and men over their lifetimes. Compared to men, women generally live longer and have higher chances of developing severe disability, hence they are likely to receive longer CareShield Life coverage and more payouts over their lifetime. As men and women pay premiums for CareShield Life for the same number of years, the annual premiums for women need to be higher to account for their longer expected duration of payout over their lifetime.

We will provide support to lower-income women through the existing social support schemes for lower-income Singaporeans. For CareShield Life, the Government will also provide premium subsidies and support based on one’s financial circumstances to ensure that premiums are affordable.

This information provided here is sourced from the MOH website.