{"id":889,"date":"2022-11-07T14:33:00","date_gmt":"2022-11-07T06:33:00","guid":{"rendered":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/?p=889"},"modified":"2022-11-08T23:52:35","modified_gmt":"2022-11-08T15:52:35","slug":"careshield-life-supplement-best-provider-comparison-2022","status":"publish","type":"post","link":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/careshield-life-supplement-best-provider-comparison-2022\/","title":{"rendered":"CareShield Life Supplement: Best Provider &#038; Comparison (2022)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"889\" class=\"elementor elementor-889\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4181818 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4181818\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"aux-parallax-section elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-31a1c32\" data-id=\"31a1c32\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f28da05 elementor-widget elementor-widget-heading\" data-id=\"f28da05\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What is Careshield Life?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d41f314 elementor-widget elementor-widget-text-editor\" data-id=\"d41f314\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">CareShield Life helps in covering long-term care expenses that arise from having a disability. To boost your disability protection and benefits, you can upgrade your CareShield Life with supplements from these three private insurers: Great Eastern Life, Singlife with Aviva, and NTUC Income.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9def9af elementor-widget elementor-widget-heading\" data-id=\"9def9af\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">CareShield Life Vs. ElderShield\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a07726a elementor-widget elementor-widget-text-editor\" data-id=\"a07726a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">When tragedy hits and you become disabled, the last thing you need is to face financial constraint. CareShield Life, a new scheme that takes over ElderShield, is a long-term care insurance plan that aims to reduce\u00a0 the costs of personal and medical care should you become severely disabled.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The first key difference between the two schemes is that CareShield Life is mandatory, whereas ElderShield is not. All Singaporean citizens and permanent residents who are at least 30 years old or who were born in 1980 or later are enrolled automatically.On the other hand,\u00a0 people born in 1978 and earlier can opt in &amp; out.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d8c03f6 elementor-widget elementor-widget-heading\" data-id=\"d8c03f6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">How to qualify for CareShield Life?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e9bbfc5 elementor-widget elementor-widget-image\" data-id=\"e9bbfc5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1080\" height=\"1080\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-1.png?fit=1080%2C1080&amp;ssl=1\" class=\"attachment-full size-full wp-image-894\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-1.png?w=1080&amp;ssl=1 1080w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-1.png?resize=300%2C300&amp;ssl=1 300w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-1.png?resize=1024%2C1024&amp;ssl=1 1024w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-1.png?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-1.png?resize=768%2C768&amp;ssl=1 768w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-1.png?resize=200%2C200&amp;ssl=1 200w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b65de81 elementor-widget elementor-widget-text-editor\" data-id=\"b65de81\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">For you to be eligible for CareShield Life, you must be classified as severely disabled, which means you\u2019re unable to perform at least three of the following six ADLs: bathing, dressing, eating, toileting, getting in and out of bed, and transferring.<\/span><\/p><p><span style=\"font-weight: 400;\">Once you qualify for CareShield Life, you\u2019ll receive payments starting at <strong>S$600<\/strong> per month as long as you\u2019re seriously disabled and these monthly payouts will rise yearly until you turn\u00a0 67 years old (or when a claim is successfully made, whichever comes first).<\/span><\/p><p><span style=\"font-weight: 400;\">The payouts are expected to grow by <strong>2% <\/strong>yearly from <strong>2020<\/strong> until<strong> 2025<\/strong>. Your payouts will continually grow after <strong>2025<\/strong>, and subsequent changes will be determined by an independent council later on.<\/span><\/p><p><span style=\"font-weight: 400;\">However, once your first CareShield Life successful claim is approved, your monthly payout will remain the same all throughout your disability. In other words, even if there are some changes made to payouts, you will continue to receive the same amount.<\/span><\/p><p><span style=\"font-weight: 400;\">It&#8217;s also important to keep in mind that your monthly payouts stay fixed at <strong>S$617<\/strong> if you&#8217;re <strong>67<\/strong> or older or when the plan becomes available to you.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec00088 elementor-widget elementor-widget-heading\" data-id=\"ec00088\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Should you upgrade your CareShield Life plan?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a8080e elementor-widget elementor-widget-image\" data-id=\"4a8080e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1080\" height=\"1080\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-4.png?fit=1080%2C1080&amp;ssl=1\" class=\"attachment-full size-full wp-image-891\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-4.png?w=1080&amp;ssl=1 1080w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-4.png?resize=300%2C300&amp;ssl=1 300w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-4.png?resize=1024%2C1024&amp;ssl=1 1024w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-4.png?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-4.png?resize=768%2C768&amp;ssl=1 768w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-4.png?resize=200%2C200&amp;ssl=1 200w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-381d8ac elementor-widget elementor-widget-text-editor\" data-id=\"381d8ac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Your MediSave account can be used to pay for the CareShield Life premiums and keep it at a comparatively low maintenance.The fact that increasing your Careshield Life coverage requires no out-of-pocket costs is a great factor to consider upgrading your careshield.<\/span><\/p><p><span style=\"font-weight: 400;\">Furthermore, anyone from your family members can pay the premium:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Spouse<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Parents<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Children<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Siblings<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Grandchildren<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">As long as you don&#8217;t exceed the annual limit of $600 per insured, your CPF MediSave can be used to pay your premiums. If the premium is higher than the cap, then a cash payment is necessary to cover the amount.<\/span><\/p><p><span style=\"font-weight: 400;\">However, realistically speaking, <\/span><b>$600<\/b><span style=\"font-weight: 400;\"> a month is just nothing when it comes to all the costs related to disability, especially if your illness is serious (Keep in mind that in order to file a claim with CareShield Life, you must be unable to do at least three of the six ADLs).<\/span><\/p><p><span style=\"font-weight: 400;\">In addition, it is important to remember that other than for treatments or medication, you may need to pay for extra expenses such as hiring a caregiver or a domestic helper.<\/span><\/p><p><span style=\"font-weight: 400;\">According to Singlife&#8217;s long-term care survey, the average monthly cost of long-term care is <\/span><b>S$2,324<\/b><span style=\"font-weight: 400;\">, which includes the treatment, therapy, medication, and even the fees for hiring a caregiver. One may experience severe financial hardship with the loss of income should a person become disabled and unable to continue working.<\/span><\/p><p><span style=\"font-weight: 400;\">One<\/span><a href=\"https:\/\/www.careshieldlife.gov.sg\/careshield-life\/about-careshield-life.html\"><span style=\"font-weight: 400;\"> study<\/span><\/a><span style=\"font-weight: 400;\"> conducted by the Ministry of Health found that <\/span><b>50% <\/b><span style=\"font-weight: 400;\">of healthy Singaporeans could become seriously disabled at some point in their lives, and <\/span><b>30%<\/b><span style=\"font-weight: 400;\"> of the population could be severely incapacitated for <\/span><b>10 years<\/b><span style=\"font-weight: 400;\"> or longer. Strokes, diabetes, dementia, and car accidents are only a few of the causes.<\/span><\/p><p><span style=\"font-weight: 400;\">If you have an excess of CPF MediSave and wish a higher monthly payout, why not take advantage of CareShield Life upgrades?<\/span><\/p><p><span style=\"font-weight: 400;\">To figure out the best CareShield upgrade for you, you need to compare different plans.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88f8a41 elementor-widget elementor-widget-heading\" data-id=\"88f8a41\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">How do CareShield Life supplements work?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9a6fb9 elementor-widget elementor-widget-image\" data-id=\"a9a6fb9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1080\" height=\"1080\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-2.png?fit=1080%2C1080&amp;ssl=1\" class=\"attachment-full size-full wp-image-893\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-2.png?w=1080&amp;ssl=1 1080w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-2.png?resize=300%2C300&amp;ssl=1 300w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-2.png?resize=1024%2C1024&amp;ssl=1 1024w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-2.png?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-2.png?resize=768%2C768&amp;ssl=1 768w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Blue-Modern-Professional-Discussion-Business-Time-Instagram-Post-2.png?resize=200%2C200&amp;ssl=1 200w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c6494e0 elementor-widget elementor-widget-text-editor\" data-id=\"c6494e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">To offset these ever-increasing expenses, getting supplemental insurance from private insurers may be necessary. CareShield Life supplements offer increased protection against moderate and severe disability, plus more long-term care payouts to lessen the financial burden on the expenses.<\/span><\/p><p><span style=\"font-weight: 400;\">Not to mention, you can also deduct up to <\/span><b>S$600<\/b><span style=\"font-weight: 400;\"> from your MediSave account using the CareShield Life supplement premiums. This means, you can boost your CareShield Life supplement monthly payouts up to S$5,000 per year, which primarily depends on your choice of plan and premium.<\/span><\/p><p><span style=\"font-weight: 400;\">The current private insurers offering CareShield supplements include: Singlife with Aviva, Great Eastern Life, and NTUC Income.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ba8e7d9 elementor-widget elementor-widget-heading\" data-id=\"ba8e7d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Best CareShield Life supplement plans comparison: Great Eastern Life vs Singlife With Aviva vs NTUC Income\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c92ad6d elementor-widget elementor-widget-text-editor\" data-id=\"c92ad6d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">As previously stated, you can choose from the three private insurers. To help you decide, we&#8217;ve made a list of the top CareShield Life supplements available in the market so you can compare which of these plans offer the best value.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-686c385 elementor-widget elementor-widget-image\" data-id=\"686c385\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1587\" height=\"2245\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Monthly-Benefit-Amount.png?fit=1587%2C2245&amp;ssl=1\" class=\"attachment-full size-full wp-image-895\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Monthly-Benefit-Amount.png?w=1587&amp;ssl=1 1587w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Monthly-Benefit-Amount.png?resize=1086%2C1536&amp;ssl=1 1086w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Monthly-Benefit-Amount.png?resize=1448%2C2048&amp;ssl=1 1448w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/Monthly-Benefit-Amount.png?resize=200%2C283&amp;ssl=1 200w\" sizes=\"(max-width: 1587px) 100vw, 1587px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b90356e elementor-widget elementor-widget-text-editor\" data-id=\"b90356e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><em><sup>1<\/sup><\/em><em>Age Next Birthday (ANB) and Age Last Birthday (ALB)<\/em><\/p><p><em><sup>2<\/sup><\/em><em>Subject to Deferment Period, and for as long as he continues to suffer from the disability.<\/em><\/p><p><em><sup>3<\/sup><\/em><em>All payouts here are subject to the Deferment Period. Payouts are payable for as long as the life assured suffers from the applicable number of disabilities, up to the life assured\u2019s lifetime.<\/em><\/p><p><em><sup>4<\/sup><\/em><em>The Initial Benefit is a lump sum payment equivalent to 3 times of the Monthly Benefit. In the event the Life Assured fully recovers from the disability, the Initial Benefit may be paid again for subsequent episodes of inability to perform at least 1 ADL. However, it is not payable if such subsequent disabilities arise from or are related to the cause of disability(ies) for which there was a previous claim for Initial Benefit.<\/em><em><sup>5<\/sup><\/em><em>Subject to Deferment Period and payable for up to a maximum of 12 months (whether consecutive or not) per Policy Term.<\/em><em><sup>6<\/sup><\/em><em>Applicable if the Life Assured has a Child who is below 22 years old (age last birthday) as at the Claim Date; subject to Deferment Period and payable for up to a maximum of 48 months (whether consecutive or not) per Policy Term.<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f1b5d1 elementor-widget elementor-widget-heading\" data-id=\"8f1b5d1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Great Eastern Life<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be38b80 elementor-widget elementor-widget-image\" data-id=\"be38b80\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"361\" height=\"140\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/download.png?fit=361%2C140&amp;ssl=1\" class=\"attachment-full size-full wp-image-899\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/download.png?w=361&amp;ssl=1 361w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/download.png?resize=200%2C78&amp;ssl=1 200w\" sizes=\"(max-width: 361px) 100vw, 361px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">image source: Great Eastern Life<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c948a5f elementor-widget elementor-widget-text-editor\" data-id=\"c948a5f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">When compared to other MediSave-approved CareShield supplement plans, Great Eastern&#8217;s <\/span><a href=\"https:\/\/www.greateasternlife.com\/content\/dam\/great-eastern\/sg\/homepage\/personal-insurance\/our-products\/health-insurance\/great-careshield\/great-careshield-brochure.pdf\"><span style=\"font-weight: 400;\">GREAT CareShield<\/span><\/a><span style=\"font-weight: 400;\"> stands out as the only option that offers compensation for the inability to perform even just a single ADL. Payments range from $300 to $5,000 per month, on top of your regular CareShield Life benefits, depending on your plan.<\/span><\/p><p><span style=\"font-weight: 400;\">An individual&#8217;s quality of life can suffer from a mild disability, but the disability is not severe enough to qualify them for insurance benefits. It&#8217;s also possible that a person&#8217;s condition allows them to keep working, but at a reduced salary because of their limited job scope.<\/span><\/p><p><span style=\"font-weight: 400;\">As a result, it can be exceedingly difficult to deal with the financial strain of a reduced salary and rising medical bills. When this happens, having peace of mind is where Great Eastern&#8217;s GREAT CareShield comes in.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9f843ec elementor-widget elementor-widget-text-editor\" data-id=\"9f843ec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Remember that no matter how reasonably priced MediShield Life premiums are, you may pay for it entirely out of your Medisave account. Thus it won&#8217;t even affect your cash flow.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fcf910a elementor-widget elementor-widget-heading\" data-id=\"fcf910a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Singlife with Aviva<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-044182f elementor-widget elementor-widget-image\" data-id=\"044182f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"311\" height=\"162\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/download-1.png?fit=311%2C162&amp;ssl=1\" class=\"attachment-full size-full wp-image-898\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/download-1.png?w=311&amp;ssl=1 311w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/download-1.png?resize=200%2C104&amp;ssl=1 200w\" sizes=\"(max-width: 311px) 100vw, 311px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">image source: Singlife with Aviva<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cad4195 elementor-widget elementor-widget-text-editor\" data-id=\"cad4195\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">With so many great features included, the <\/span><a href=\"https:\/\/directsales.singlife.com\/QuoteBuy\/directsales\/index.html#\/mltc\/lets-get-started?cc=SSV4-dkf1rcUmQptZHrwYhJjs&amp;utm_medium=affiliate&amp;utm_source=singsaver&amp;utm_campaign=singsaver_listing&amp;utm_content=saingsaver_careshield_plus\"><span style=\"font-weight: 400;\">Singlife with Aviva CareShield Standard plan<\/span><\/a><span style=\"font-weight: 400;\"> stands out as one of the\u00a0 top contenders among other Careshield Life supplement insurance providers.<\/span><\/p><p><span style=\"font-weight: 400;\">Some of the benefits offered include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dependent care benefit<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Caregiver relief benefit<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Death benefit<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">In addition, you can decide between a fixed payout or a growing payout of 2% or 3% p.a. until the end of the premium term or upon claiming, whichever comes first.<\/span><\/p><p><span style=\"font-weight: 400;\">To qualify for the monthly payment of the rehabilitation benefit, you must be unable to complete two ADLs (moderate disability). Payments from your CareShield Life policy can be supplemented by an extra S$200 to S$5,000, depending on your policy.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c15e4a6 elementor-widget elementor-widget-heading\" data-id=\"c15e4a6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">NTUC Income Care Secure\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b3285a3 elementor-widget elementor-widget-image\" data-id=\"b3285a3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"439\" height=\"227\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/NTUC_Income_Logo_2021.jpg?fit=439%2C227&amp;ssl=1\" class=\"attachment-full size-full wp-image-900\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/NTUC_Income_Logo_2021.jpg?w=439&amp;ssl=1 439w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/NTUC_Income_Logo_2021.jpg?resize=200%2C103&amp;ssl=1 200w\" sizes=\"(max-width: 439px) 100vw, 439px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">image source: NTUC Income<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e93f682 elementor-widget elementor-widget-text-editor\" data-id=\"e93f682\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/www.income.com.sg\/health-insurance\/care-secure\"><span style=\"font-weight: 400;\">Care Secure plan<\/span><\/a><span style=\"font-weight: 400;\"> from NTUC Income provides substantial protection, which includes the following:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Support benefit (initial payout) of up to 600% of the disability benefit<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dependent benefit of 25% of the disability benefit every month for up to 36 months<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Death benefit of 300% of the disability benefit<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">In addition, NTUC policyholders get access to exclusive discounts and perks, including luxury staycation deals and shopping vouchers.<\/span><\/p><p><span style=\"font-weight: 400;\">But the downside is that the CareShield Life&#8217;s payout is already included in its monthly benefit. For instance, Great CareShield Advantage and Singlife CareShield Standard both have optional monthly benefits on top of their base payout, so you end up with more money no matter which plan you choose.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b06641c elementor-widget elementor-widget-heading\" data-id=\"b06641c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What kind of CareShield Life supplement should you get?\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14a541a elementor-widget elementor-widget-text-editor\" data-id=\"14a541a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">There is certainly no written formula for this. One must assess their own medical requirements and top priorities when choosing the best supplement.<\/span><\/p><p><span style=\"font-weight: 400;\">Plans with dependent benefits are a good choice if you want to take care of\u00a0 the financial security of your family in the event of your death or disability. Keep in mind that the payment for which you are qualified also depends on the premium you are paying.<\/span><\/p><p><span style=\"font-weight: 400;\">For instance, Singlife&#8217;s CareShield Standard offers an exceptional\u00a0 all-around coverage at the best possible price. However, you have to keep in mind that if you select the escalating payment plan, your premiums would rise by 2% or 3% a year.<\/span><\/p><p><span style=\"font-weight: 400;\">On the other hand, NTUC Income&#8217;s lump sum payout is also fairly generous: you will be paid three times your first month&#8217;s benefit if you can&#8217;t do at least two ADLs, and six times your first month&#8217;s benefit if you can&#8217;t do at least three ADLs. However, the monthly compensation you get from CareShield will only include the basic if you can&#8217;t complete at least three ADLs.<\/span><\/p><p><span style=\"font-weight: 400;\">Finally, as was previously indicated, only Great Eastern&#8217;s GREAT CareShield plan provides a monthly compensation for the inability to complete at least one ADL. If you are unable to do two ADLs, you will be eligible for the entire monthly benefit. The only downside is the non inclusive of death benefit.<\/span><\/p><p><span style=\"font-weight: 400;\">In conclusion, the benefits included in CareShield Life&#8217;s basic plan might not be enough.<\/span><\/p><p><span style=\"font-weight: 400;\">Why not take advantage of CareShield Life improvements if you have extra CPF MediSave and desire a higher monthly payout?<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>What is Careshield Life? CareShield Life helps in covering long-term care expenses that arise from having a disability. To boost your disability protection and benefits, you can upgrade your CareShield Life with supplements from these three private insurers: Great Eastern Life, Singlife with Aviva, and NTUC Income. CareShield Life Vs. ElderShield When tragedy hits and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":906,"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-889","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\/2020\/01\/2.png?fit=1507%2C969&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/889","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=889"}],"version-history":[{"count":5,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/889\/revisions"}],"predecessor-version":[{"id":932,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/889\/revisions\/932"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media\/906"}],"wp:attachment":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media?parent=889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/categories?post=889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/tags?post=889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}