Long Term Care
Why do we need long term care protection
1 in 2 healthy Singaporeans aged 65 could become severely disabled in their lifetime, and may need long-term care. Severe disability may arise due to a sudden disabling event (e.g. stroke and spinal cord injuries), the worsening of chronic conditions and diseases (e.g. diabetes), or the progression of illnesses as we age (e.g. dementia).
It is important that we plan early for our future long-term care needs, but working out how much to save can be difficult since the cost of long-term care is uncertain. Insurance schemes like CareShield Life help to pool our risks together and ensure protection against potentially catastrophic long-term care costs, providing peace of mind.
What is Careshield Life
CareShield Life is a long-term care insurance scheme that provides basic financial support should Singaporeans become severely disabled, especially during old age, and need personal and medical care for a prolonged duration (i.e. long-term care).
When are you eligible to claim?
You can make a claim if you are assessed by a MOH-accredited severe disability assessor to be unable to perform at least three out of the six Activities of Daily Living (ADLs).
Enhance with higher monthly payout
Contact us to find out more how you can enhance with higher monthly payout using CPF-medisave funds!
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