{"id":345,"date":"2022-03-04T13:47:26","date_gmt":"2022-03-04T13:47:26","guid":{"rendered":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/british-designer-create-arras\/"},"modified":"2022-11-21T13:39:33","modified_gmt":"2022-11-21T05:39:33","slug":"careshield-why-getting-a-careshield-life-plan-should-be-done-earlier-than-later","status":"publish","type":"post","link":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/careshield-why-getting-a-careshield-life-plan-should-be-done-earlier-than-later\/","title":{"rendered":"CareShield: Why Getting A CareShield Life Plan Should Be Done Earlier Than Later"},"content":{"rendered":"\t\t
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It\u2019s too easy to put off the need to claim the CareShield Life Scheme for people born before 1980<\/strong>. Each year you delay signing up, you lose the opportunity to reap higher payouts and increase the risk of burdening your children with financial responsibilities that could put them in a sandwich generation. The longer you miss out on enhancing your protection, the more difficult it will be to catch up if there are pre-existing health conditions that may affect your claims. In the worst-case scenario, you may not be eligible for a CareShield plan if you become disabled and it\u2019s too late already.<\/p>\n

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You may not feel like you need to worry about it, but even with a good lifestyle, you can still get diseases or injuries. Critical illnesses can strike anyone at anytime, and you never know what life may throw at you. Although you may feel at ease that you have ElderShield Life, things could easily change, and so are our healthcare needs. Health issues can hit you at any time, whether a minor illness or a life-threatening condition and what we need the most is a plan that will cover us with higher compensation.<\/p>\n

According to\u00a0MOH<\/a>, One in every two healthy Singaporeans aged 65<\/strong> is at risk of being severely incapacitated, requiring long-term care in their lives. It is impossible to predict how long a person will need long-term care.<\/p>\n

These days, many disabilities can impact our day-to-day lives. You may think you won\u2019t need much money for long-term care in the future but think again. According to a\u00a0study<\/a>, elder healthcare costs are expected to rise tenfold in 2030<\/strong>. Moreover, The average Singaporean lives up to age 82<\/strong>,\u00a0with about eight years of ill health. In those eight unhealthy years<\/a>, the average person needs approximately $183,000<\/strong> in old age to cover long-term care needs. This can be incurred later in life and might strain your financial health.\u00a0As we age, many of our children will have a family of their own, and less caregivers will be available to take care of us. Hence, you must have enough money to cover your long-term care needs in the future.<\/p>\n

Claiming it earlier entails the same price either way, but you get the coverage immediately by signing up sooner. And you\u2019ll be covered if something terrible happens in the next two years, which would make it a good idea to get your policy now.<\/p>\n

When people are halfway to retirement age, it is easy to think that one\u2019s current long-term care plan is sufficient and that no changes need to be made. However, it\u2019s important to remember that no matter how well you take care of yourself today and even if you have an ElderShield Life to protect you, there\u2019s always a chance that you\u2019ll develop health issues unexpectedly in the future which will require a solid plan to support your needs. This means higher & longer payouts which is the core aim of the CareShield Life<\/strong><\/a> plan.<\/p>\n

What if you can\u2019t go back to work at all? What if your family is left without one of their key providers? If you don\u2019t want to live with regret, don\u2019t wait for another year to sign up for the Careshield life scheme.<\/p>\n

Unlike the previous ElderShield Life scheme, which has shorter payment periods and lower payouts, our innovative Careshield life scheme will give you a good start in life and ensure that you are provided with more significant payouts in a more extended period.<\/p>\n

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It\u2019s too easy to put off the need to claim the CareShield Life Scheme for people born before 1980. Each year you delay signing up, you lose the opportunity to reap higher payouts and increase the risk of burdening your children with financial responsibilities that could put them in a sandwich generation. The longer you […]<\/p>\n","protected":false},"author":1,"featured_media":910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28],"tags":[30],"class_list":["post-345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-careshield","tag-protection"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/03\/Understanding-Careshield-Article-Feature-Image.png?fit=1507%2C969&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/comments?post=345"}],"version-history":[{"count":5,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/345\/revisions"}],"predecessor-version":[{"id":973,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/345\/revisions\/973"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media\/910"}],"wp:attachment":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media?parent=345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/categories?post=345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/tags?post=345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}