Launched in 2020, CareShield Life is a national disability insurance scheme that provides monthly payouts to alleviate the costs of severe disability. Read more at straitstimes.com.
Q: Who is covered under CareShield Life? Can I sign up for CareShield Life on behalf of my parents?Singaporeans and permanent residents born in 1980 or later are automatically covered under CareShield Life from Oct 1, 2020 or when they turn 30, whichever is later.
You can encourage your parents to sign up for CareShield Life, and guide them through the process. You can also support their premiums using your MediSave or top up their MediSave using cash.CareShield Life premiums are determined based on multiple factors, such as age, gender, whether they have an existing ElderShield policy, and the year of joining CareShield Life. Annual premiums will also increase with age and through regular adjustments by the Government.www.careshieldlife.gov.
You are eligible for payouts if you are assessed to be unable to perform at least three out of six activities of daily living – feeding, washing, toileting, moving or walking around, dressing, and transferring from a bed to chair.
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