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Careshield Life Supplement: Best Upgrade Option & Comparison

We Compare over 15 Life insurers to get you the best Careshield Supplement insurance plan in Singapore

Learn about the different Careshield Supplement Upgrades and compare different insurers to find the plan that best suits your needs.

Careshield supplement discount

Why Upgrade Your Careshield insurance Plan?

Certain companies also provide coverage such as:

Activities of Daily Living

Coverage for Careshield life and it's supplement are defined base on the inability to do Activities of daily living e.g. Washing, Feeding, Toileting, Dressing, Mobility & Transferability. The criteria to claim can be the inability to do 1 or 2 out of these 6 ADLs


Medisave Payable

Applicants will be able to utilise up to $600 per year of additional withdrawal limit from your medisave to fund this upgrade. This limit is in addition to the medisave withdrawal limit for integrated shield hospitalisation plans.

Increase Protection

You will be able to opt for a higher payout of up to $5,000/mth for life vs the prevailing careshield life payout of $600/mth

Compare and Get Quotes from Different Careshield Supplement Providers

These are some the companies we can help you get quotes for and get you the best offer

Careshield Supplement Upgrades

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Other Features of Careshield Supplement Insurance Plan

real financial planning

Claim upon inability to do 1 or 2 of the 6 Activities of Daily Living

 

Shorter Waiting Period

Unlike a Total and Permanent Disability (TPD) rider coverage, a disability income allows you to start claiming after the 3rd month uponafter diagnosis. A normal TPD rider requires 6 months waiting period of total disability before pay-out is made.

 

Lifetime ADLs Coverage

A normal Total Permanent Disability Coverage will not pay out base on ADL after age 70, Careshield life and it’s supplement provides ADL defined coverage for life

 

Additional Dependent Benefit Payout

Receive additional pay out if you have dependents for the first few years of your disability.

Sample Premiums

E.G. Careshield Supplement Insurance Premium 30 Years Old Non-Smoker if Any

Permutation: $1,500 monthly income due to disability till Age 65, 2 out of 6 ADL Max Payment Term

InsurerMale Annual PremiumFemale Annual Premium
Aviva$593$702
NTUC$324$447
GE$574$766

What Should You Look Out For When Buying Careshield Life Supplement?

  • Take note that your plan is subjected to GST Charges and if the GST increase, your total premium may be impacted by the Medisave Withdrawal Limitation.
  • Know whether your plan pays mutually inclusive of Careshield life or exclusive in the event you are unable to do 3 out of 6 ADLs
  • Check if your plan has a paid-up benefit feature to ensure you continue to keep a prorated coverage if you decide to stop premium payment after a certain year.

The biggest advantage of upgrading your careshield life insurance plan is that you can utilise your medisave to enhanced your payout and enjoy a less stringent definition on disability

Get Careshield Supplement Insurance Quotes

Our MAS-Licensed Partner will provide you with objective advice and help you compare insurance quotes from different providers. 100% Free & No Commitment. Retrieve your info using your singpass app or manually fill in the form below.

Frequently Asked Questions

Careshield life is a government scheme which begins in 2020 to provide a monthly income payout in the event the insured suffers from severe disability. The current definition for severe disability is the inability to do 3 out of the following 6 Activities of Daily Living (ADLs)

  • Washing

  • Feeding

  • Dressing

  • Toileting

  • Mobility

  • Transferability

Yes, the Careshield life is a compulsory coverage for all Singaporeans and PR age 30 and above from 2020 onwards, the plan can be funded via medisave.

Considering the average monthly cost of long-term care which may amounts to more than $2,000/mth, including aids to help in daily living, everyday living expenses, care-giver expenses, medication and therapy and miscellaneous expenses and this amount is likely to increase further with inflation. It does make financial sense to upgrade your coverage if you are able to afford it.

Careshield life will provide coverage for all pre existing conditions. However, depending on the nature of the condition, the careshield life supplement may or may not provide coverage for your pre-existing conditions. In certain scenarios, loading and/or exclusions may be imposed

Most people will maximise their medisave withdrawal limits to pay for careshield life, if you need more and are able to afford paying cash, you may want to factor in your daily expenses plus projected cost for disability management to receive adequate coverage.

Careshield life supplement provides the benefit to claim upon the inability to carry out 2 out of 6 activities of daily living, some offers 1 out of 6 adl payout and premium waiver as well.

No, only careshield life is compulsory the supplement to upgrade are optional

You should upgrade as soon as you are eligible to do so since your premium will be at the lowest at your current age and you should take advantage of your good health if you are medically fit to do so.

No, careshield supplements underwriting do not consider occupational

Your existing disability coverage may not provide you with the same coverage definition as careshield life or may be terminated after a certain age. Careshield life and its supplement provides you with a lifetime coverage as you continue to afford the premium.

Click on get quotes and an expert and seasoned financial advisor will provide you with objective advise and get you quotes from different companies to compare. 100% free & no obligation.

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