The ElderShield scheme collects premiums based on the insured’s age as at their last birthday. The annual premium is payable until the policy year in which you are still age 65 at the start of the policy year.

For example, for a 40-year-old male (date of birth: 30 June 1978) on ElderShield400, the final premium payable will be for the policy starting 30 April 2044. This is because the insured is still age 65 on 30 April 2044 even though he turned age 65 on 30 June 2043.

This information is sourced from MOH