How do the enhancements to Special Needs Trust Company (SNTC) support caregivers in setting aside sufficient finances for the care of their child with special needs after they have passed on?
The SNTC Trust account allows caregivers to determine a future care plan for their children with special needs, and set aside the finances needed to accomplish the care plan.
With the matching top-up, caregivers will be able to use the monies in the SNTC account to purchase affordable term insurance with a sum assured of at least $100,000. Upon the caregivers’ demise, the sum assured will be used to top up their beneficiary’s trust account to provide for his/her long term care, in accordance with the care plan.
Related questions
The returns on the Special Needs Trust Company (SNTC) trust accounts are low compared to those offered by private trust companies and make it challenging for clients to fight inflation in the future. Will the Government review this?
As a parent, how can I plan for my special needs child’s future after I am no longer around?
How does the Matched Retirement Savings Scheme (MRSS) help caregivers of persons with disabilities?
What is a Special Student Care Centre (SSCC)?
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