Will the ElderFund payouts rise over time, like CareShield Life payouts?
The regular increase in payouts for CareShield Life are supported by regular premium increases. Once an insured under CareShield Life makes a claim, the payout stays fixed.
ElderFund will be a government financial assistance scheme, funded through taxes. Eligible Singapore Citizens can receive up to $250 per month in cash. There will be no cap on payout duration for the duration of their severe disability. The Government will review the payout amount over time to ensure that payouts remain relevant for beneficiaries.
This information is sourced from MOH
Related questions
What is the difference between CareShield Life, ElderShield, MediShield Life, CPF LIFE, ElderFund, Community Health Assist Scheme (CHAS), Home Caregiving Grant (HCG) , Pioneer Generation Disability Assistance Scheme (PioneerDAS) and Interim Disability Assistance Programme for the Elderly (IDAPE)?
What is the difference between CareShield Life, ElderShield, MediShield Life, CPF LIFE, ElderFund, Community Health Assist Scheme (CHAS), Home Caregiving Grant (HCG), Pioneer Generation Disability Assistance Scheme (PioneerDAS) and Interim Disability Assistance Programme for the Elderly (IDAPE)?
What is the difference between CareShield Life, ElderShield, MediShield Life, CPF LIFE, ElderFund, Community Health Assist Scheme (CHAS), Home Caregiving Grant (HCG) , Pioneer Generation Disability Assistance Scheme (PioneerDAS) and Interim Disability Assistance Programme for the Elderly (IDAPE)?
How was the payout amount of $250/month decided for ElderFund?
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