How much will my CareShield life Premiums increase and what happens after I reach 67?
CareShield Life premiums (excluding GST) will gradually increase by 2%* each year and will stop increasing when you reach 67. If you joined CareShield Life when you are 58 or younger, you won’t have to pay premiums after you reach 67. However, if you joined CareShield Life at 59 or older, you won’t have to pay premiums after 10 years.
It is important to note that if you make a successful claim with CareShield Life, your premium payments will be waived during the time you are receiving payouts.
*The payouts will increase at 2% each year until 2025 where it will be reviewed further.
This information is sourced from MOH
Related questions
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