How can I find out if I am covered under CareShield Life?
You can log in to My Policy using your Singpass to find out if you are covered under CareShield Life.
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You can log in to My Policy using your Singpass to find out if you are covered under CareShield Life.
If you are born in 1980 or later, you will be automatically covered under CareShield Life on 1 October 2020, or when you turn 30, whichever is later.
If you are born between 1980 and 1990 (i.e. aged 30 to 40 in 2020), you will receive a CareShield Life welcome package informing you of your CareShield Life cover, by 2 September 2020 or up to two months before your 30th birthday, whichever is later. If you are born after 1990 (i.e. aged below 30 in 2020), you will receive a CareShield Life welcome package before you reach age 30.
CareShield Life is a long-term care insurance which provides financial protection against long-term care costs of Singaporeans in the event of severe disability. CareShield Life will provide you with better protection and assurance for basic long-term care needs with:
1. Lifetime cash payouts, for as long as the insured is unable to do three or more Activities of Daily Living (ADLs);
2. Increasing monthly payouts, at $649/month in 2024 and increases annually until age 67 or when a successful claim is made, whichever is earlier;
3. Government subsidies to make it affordable, with no one losing coverage if they cannot pay premiums;
4. Premiums can be fully paid by MediSave.
If you are a Singapore Citizen or Permanent Resident born in 1980 or later, you will be automatically covered on 1 October 2020 or when you turn 30, even if you have any pre-existing conditions or have developed severe disability.
CareShield Life will be universal and mandatory for you if you are a Singapore Citizen or Permanent Resident born in 1980 or later. This will ensure that all Singaporeans, including those who are more vulnerable such as the lower-income group and those with pre-existing severe disabilities, have basic protection for long-term care needs.
A universal scheme allows those with pre-existing disabilities, who will otherwise not be able to enjoy coverage, to be included. If the scheme is optional, vulnerable groups like the low-income may also drop out of the scheme because of an inability to pay. Some low-income insureds do have their ElderShield policies lapse as the years pass as they are not able to make their premium payments.
Including these groups strengthens our social compact and is consistent with our values as an inclusive and caring society. Many Singaporeans who were engaged in earlier focus groups discussions recognised its merit and supported this approach.
Under CareShield Life, the Government will support Singaporeans who are unable to afford their premiums, so that no one will lose their coverage due to financial difficulties.
Please note that if you are a foreigner who become a Singapore Citizen or a Permanent Resident from 1 October 2020 onwards, is born in 1979 or earlier and do not develop severe disability, CareShield Life will be mandatory for you.
Starting CareShield Life at age 30 allows a longer period for premiums payment to be spread over. A longer duration of premium payment allows insureds to spread premium payment over more years, so as to reduce annual premiums payable. Consequently, insureds will benefit from additional years of coverage starting from age 30.
By the age of 30, most Singaporeans would have started working and many would have worked for a few years. It is also a good time to start planning for their long-term care needs. They would have started contributing to their MediSave, and should be able to cover their CareShield Life premiums without out-of-pocket expenses.
If you are born after 1990, you will receive a CareShield Life welcome package about two months before your 30th birthday.
Under CareShield Life, premiums paid by insureds are designed to be risk-pooled within their own generation and used to cover their claims in the event of severe disability.
As there is no risk pool for your cohort when the scheme is launched, your cohort will be covered under CareShield Life when you turn 30 years old, even if you have developed severe disability.
You may refer to Government support schemes specifically for younger Singaporeans who have developed disability and their caregivers (age 65 and below) on the SG Enable's website or speak to SG Enable at 1800-8585-885.
The priority of CareShield Life is to provide protection against severe disability during old age, when Singaporeans are most likely to need long-term care.
There are various support schemes for families who need support for their loved ones who are younger than the starting age (of 30) for CareShield Life but have developed severe disability, e.g. subsidies for early intervention programmes under the Ministry of Social and Family Development (MSF), and subsidies for therapy services at KK Hospital and the National University Hospital.
Government-funded safety nets such as MediFund or ComCare can provide further assistance to Singaporeans who are unable to pay for their care even after Government subsidies and other means of support.
As CareShield Life is universal for Singapore Citizens and Permanent Residents born in 1980 or later, there are no exemptions. As long as you are covered under CareShield Life, you can still receive monthly payouts in the event of severe disability.
The Government will support Singaporeans who are unable to afford their premiums, so that no one will lose their coverage due to financial difficulties.
All Singaporean Citizens and Permanent Residents born in 1980 or later, including those with pre-existing severe disabilities, will be able to enjoy benefits under CareShield Life, regardless of your ability to pay premiums. As such, you will not have to pay additional CareShield Life premiums.
As part of collective responsibility, those with pre-existing severe disabilities should contribute one premium to join the scheme. The payment amount is less than the first monthly CareShield Life payout you will receive. Upon joining the scheme, you will continue to receive monthly payouts for as long as you are unable to do three or more Activities of Daily Living (ADLs).
The Government will provide means-tested premium subsidies, and Additional Premium Support to help those who are still unable to afford premiums even after subsidies. Claims will be paid out as long as insureds meet the claims criteria.
Including those with pre-existing severe disabilities will strengthen collective responsibility and is fundamental to the inclusive and caring society Singaporeans seek to build. Less than 0.1% of Singaporeans aged 30 to 40 are estimated to have pre-existing severe disability. Hence, the cost of covering those with pre-existing severe disability amongst those born in 1980 or later does not have a significant impact on premiums.
If you are born in 1980 or later, you will be able to enjoy protection under CareShield Life, regardless of your ability to pay premiums, even if you have pre-existing disabilities.
As part of collective responsibility, those with pre-existing disabilities should contribute one premium payment to join the scheme. The payment amount is less than the first monthly CareShield Life payout you will receive. Upon joining the scheme, you will continue to receive monthly payouts for as long as you are unable to do three or more Activities of Daily Living (ADLs).
The Government will provide means-tested premium subsidies, and Additional Premium Support to help those who are still unable to afford premiums even after subsidies. Claims will be paid out as long as insureds meet the claims criteria.
CareShield Life will provide monthly cash payouts in the event of severe disability. Today, overseas Singaporeans are able to file ElderShield claims from abroad and receive payouts to support their care costs wherever they may be. This applies even for those who have permanently relocated abroad. This will continue to apply for CareShield Life. Hence, premium payments for overseas Singaporeans cannot be suspended.
There are different private insurance plans on the market. Most cover total and permanent disability or are meant to insure against loss of income when an individual develops disability and is unable to work. As such, private insurance plans typically cease coverage between ages 60 to 70 when most insureds retire. CareShield Life, however, provides lifetime coverage and ensures that an individual will receive coverage even if the individual develops severe disability in their later years.
In addition, unlike private insurance products which cease coverage if insureds are unable to pay the premiums, under CareShield Life, coverage will not cease if an individual is unable to pay premiums due to financial difficulties. The Government will provide premium subsidies and additional premium support.
CareShield Life will cover all Singapore Citizens and Permanent Residents born in 1980 or later, including those who have pre-existing medical conditions or severe disability. You will be able to benefit from CareShield Life after you are enrolled into CareShield Life on 1 October 2020 or when you turn 30 years old, whichever is later.