{"id":954,"date":"2022-11-21T14:00:00","date_gmt":"2022-11-21T06:00:00","guid":{"rendered":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/?p=954"},"modified":"2022-12-04T23:42:13","modified_gmt":"2022-12-04T15:42:13","slug":"should-i-switch-from-eldershield-to-careshield-life","status":"publish","type":"post","link":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/should-i-switch-from-eldershield-to-careshield-life\/","title":{"rendered":"Should I Switch from ElderShield to CareShield Life"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"954\" class=\"elementor elementor-954\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b14ba32 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b14ba32\" 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-957cd07\" data-id=\"957cd07\" 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-9f309d7 elementor-widget elementor-widget-heading\" data-id=\"9f309d7\" 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<h4 class=\"elementor-heading-title elementor-size-default\">CareShield Life was introduced  two years ago, and is now mandatory for all adults aged 30\u201340 years old. However, the CareShield Life team has recently sent out letters to anyone over the age of 40 to notify them of the option to switch from ElderShield to CareShield Life.  <\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-512042b elementor-widget elementor-widget-text-editor\" data-id=\"512042b\" 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;\">If you are a Singaporean or Permanent Resident born before 1979 and have an ElderShield, you may be wondering if it&#8217;s worthwhile to switch to CareShield Life. If you&#8217;re torn between two options and need some guidance, this article is for you.<\/span><\/p><p><span style=\"font-weight: 400;\">As one might assume, CareShield Life&#8217;s benefits may sound very appealing for anyone to shift from ElderShield to CareShield Life:<\/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-4387b11 elementor-widget elementor-widget-heading\" data-id=\"4387b11\" 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<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10d8f40 elementor-widget elementor-widget-image\" data-id=\"10d8f40\" 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=\"940\" height=\"788\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield-Life.png?fit=940%2C788&amp;ssl=1\" class=\"attachment-full size-full wp-image-960\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield-Life.png?w=940&amp;ssl=1 940w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield-Life.png?resize=200%2C168&amp;ssl=1 200w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/>\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-55c9180 elementor-widget elementor-widget-text-editor\" data-id=\"55c9180\" 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;\">This is why it&#8217;s important for partners to have an in-depth conversation regarding long term care. Assess your current household expenditures\u00a0 and consider this scenario:\u00a0 If one of you were to quit contributing your income, then you would eventually be facing difficulties because your emergency funds can only last us up to a year of spending.<\/span><\/p><p><span style=\"font-weight: 400;\">So now take time to review your insurances and make sure that the basics (health, life, critical illness) are covered. Long-term disability insurance is something that needs to be discussed well with your partner.<\/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-2eabf2d elementor-widget elementor-widget-heading\" data-id=\"2eabf2d\" 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\">Did You Know?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-884579e elementor-widget elementor-widget-image\" data-id=\"884579e\" 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=\"940\" height=\"788\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/1-1.png?fit=940%2C788&amp;ssl=1\" class=\"attachment-full size-full wp-image-958\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/1-1.png?w=940&amp;ssl=1 940w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/1-1.png?resize=200%2C168&amp;ssl=1 200w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/>\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-8286204 elementor-widget elementor-widget-heading\" data-id=\"8286204\" 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 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-e092bc8 elementor-widget elementor-widget-text-editor\" data-id=\"e092bc8\" 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;\">In 2002, ElderShield 300 was established as mandatory long-term care insurance for all citizens and permanent residents of Singapore (PRs). Disability payments were increased and extended with the launch of ElderShield 400 in 2007.<\/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-07186f8 elementor-widget elementor-widget-image\" data-id=\"07186f8\" 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=\"940\" height=\"788\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/2-1.png?fit=940%2C788&amp;ssl=1\" class=\"attachment-full size-full wp-image-959\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/2-1.png?w=940&amp;ssl=1 940w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/2-1.png?resize=200%2C168&amp;ssl=1 200w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/>\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-4f374c6 elementor-widget elementor-widget-heading\" data-id=\"4f374c6\" 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 much do we really know about CareShield Life?\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-15f1286 elementor-widget elementor-widget-text-editor\" data-id=\"15f1286\" 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 is an enhancement on current ElderShield policies and a mandatory national insurance scheme. As a form of long-term care insurance, its primary goal is to guarantee all Singaporeans some level of financial security in the event of a serious disability.<\/span><\/p><p><span style=\"font-weight: 400;\">All Singaporeans and PRs who were born in 1980 or later are required to enroll in CareShield Life. When CareShield Life launches in 2021, Singaporeans and PRs born in 1979 or earlier will have the option to switch to it.<\/span><\/p><p><span style=\"font-weight: 400;\">Let&#8217;s take a look at what we know regarding CareShield Life so far. Here&#8217;s a rundown of the key details about Careshield Life:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If we&#8217;re unable to do three of the six activities of daily living ADLs, CareShield Life will start sending us payouts every month (perhaps forever)<\/span><\/li><\/ul>\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-8021697 elementor-widget elementor-widget-image\" data-id=\"8021697\" 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=\"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-4b7cafd elementor-widget elementor-widget-text-editor\" data-id=\"4b7cafd\" 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<ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The predicted net present value of someone covered by CareShield Life from the age of 30 based on the factors affecting the probability of someone being disabled and the length of the payouts, we realize that CareShield Life is an actuarially fair insurance contract that even leaves some value on the table for the insured.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Additionally, the premium structure of CareShield Life is perfectly suited to our life cycle, with lower premiums in our younger, lower-earning years and higher premiums in our later, higher-earning years, with no further premium payments required beyond age 67(once we retire).<br \/><\/span><\/li><\/ul><ul><li aria-level=\"1\"><span style=\"font-weight: 400;\">Because most people don&#8217;t become disabled until later in life, in their 70s for example, the structure of CareShield Life payouts also grows over time (until we file a successful claim), which helps to maintain the value of the payouts constant against inflation.<\/span><\/li><\/ul>\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-2e906a7 elementor-widget elementor-widget-heading\" data-id=\"2e906a7\" 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's the difference between CareShield Life and 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-2496ddf elementor-widget elementor-widget-text-editor\" data-id=\"2496ddf\" 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;\">ElderShield and CareShield Life are two different types of disability insurance, with significant differences in monthly disability benefits, payout duration, and policy eligibility.<\/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-d9b37dd elementor-widget elementor-widget-image\" data-id=\"d9b37dd\" 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\/ElderShield-vs.-CareShield.png?fit=1587%2C2245&amp;ssl=1\" class=\"attachment-full size-full wp-image-956\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield.png?w=1587&amp;ssl=1 1587w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield.png?resize=1086%2C1536&amp;ssl=1 1086w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield.png?resize=1448%2C2048&amp;ssl=1 1448w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield.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-c7f676d elementor-widget elementor-widget-text-editor\" data-id=\"c7f676d\" 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&#8217;s initial disability payment is higher, with a projected monthly payout of $600 in 2020. As a comparison, ElderShield only provides a $300 or $400 monthly benefit. CareShield Life&#8217;s initial monthly disability payout is expected to rise by 2% per year until age 67. If you become severely disabled at a later age, you can begin receiving your disability payout at a higher level.<br \/><br \/><\/span><\/p><p>Read more <a href=\"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/whats-the-difference-between-eldershield-and-careshield-life\/\">here.<\/a><\/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-4cbc46d elementor-widget elementor-widget-image\" data-id=\"4cbc46d\" 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=\"940\" height=\"788\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield-Life-2.png?fit=940%2C788&amp;ssl=1\" class=\"attachment-full size-full wp-image-966\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield-Life-2.png?w=940&amp;ssl=1 940w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield-Life-2.png?resize=200%2C168&amp;ssl=1 200w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/>\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-8f66164 elementor-widget elementor-widget-text-editor\" data-id=\"8f66164\" 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 monthly disability compensation provided by CareShield Life is increased and is guaranteed for life. When compared to ElderShield, the benefits for disability are only paid for up to 60 or 72 months.<\/span><\/p><p><span style=\"font-weight: 400;\">Finally, all Singaporeans and PRs, including those with serious preexisting disabilities, are covered by CareShield Life. The CareShield Life program makes insurance available to people who are not eligible for ElderShield due to pre-existing serious disabilities.<\/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-7d05817 elementor-widget elementor-widget-heading\" data-id=\"7d05817\" 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\">Is it a good idea to switch from ElderShield to CareShield Life?\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a0bd54a elementor-widget elementor-widget-text-editor\" data-id=\"a0bd54a\" 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;\">Here are some cases to think about if you&#8217;re on the fence about whether or not CareShield Life is the best choice for 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-0b884ce elementor-widget elementor-widget-heading\" data-id=\"0b884ce\" 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<h4 class=\"elementor-heading-title elementor-size-default\">1. Are you unable to increase your current ElderShield protection?\n<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f5afaee elementor-widget elementor-widget-text-editor\" data-id=\"f5afaee\" 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 may be a better option if you wanted to upgrade your current ElderShield coverage but were denied due to pre-existing conditions. In the event of a serious disability, this would ensure that you receive a greater monthly benefit from the onset and continued benefits for the rest of your life.<\/span><\/p><p><span style=\"font-weight: 400;\">You can only switch from ElderShield to CareShield Life if your current disability level is not too high.<\/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-c01ba3b elementor-widget elementor-widget-heading\" data-id=\"c01ba3b\" 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<h4 class=\"elementor-heading-title elementor-size-default\">2. Do you only have the most fundamental coverage, without any ElderShield additions?<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1506cac elementor-widget elementor-widget-text-editor\" data-id=\"1506cac\" 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 may be a good option if you are subscribed to the bare-bones ElderShield plan without any add-ons. This is due to the fact that the monthly disability payment offered by CareShield Life is larger than the monthly disability benefit offered by ElderShield, which is<\/span><b> $300<\/b><span style=\"font-weight: 400;\"> or <\/span><b>$400<\/b><span style=\"font-weight: 400;\">, with the latter being fixed in 2020. CareShield Life also offers a lifetime monthly disability payment, guaranteeing that you will continue to receive benefits for as long as your disability persists.<\/span><\/p><p><span style=\"font-weight: 400;\">Please be aware, however, that CareShield Life premium has different rates. While premium subsidies have been set for the first five years (2020-2025), the amount set for years beyond that has yet to be decided.<\/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-1addd91 elementor-widget elementor-widget-image\" data-id=\"1addd91\" 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=\"940\" height=\"788\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield-Life-3.png?fit=940%2C788&amp;ssl=1\" class=\"attachment-full size-full wp-image-965\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield-Life-3.png?w=940&amp;ssl=1 940w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/ElderShield-vs.-CareShield-Life-3.png?resize=200%2C168&amp;ssl=1 200w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/>\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-7ee0ee7 elementor-widget elementor-widget-heading\" data-id=\"7ee0ee7\" 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<h4 class=\"elementor-heading-title elementor-size-default\">3.Do you currently take any ElderShield supplements?\n\n<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-efeeebe elementor-widget elementor-widget-text-editor\" data-id=\"efeeebe\" 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;\">Do you already have long-term care insurance or an ElderShield supplement that will increase your monthly disability benefit? If so, maybe you should think twice before making the transition to CareShield Life. This is due to the fact that the new policy&#8217;s monthly disability payment can be lower than the one you&#8217;d receive under your old insurance.<\/span><\/p><p><span style=\"font-weight: 400;\">If you decide to terminate your coverage at any point in the future, keep in mind that you will be required to pay for CareShield Life regardless of whether or not you use it.<\/span><\/p><p><span style=\"font-weight: 400;\">In conclusion, we suggest that you consider it. When determining whether to stay with your current provider or look elsewhere, it&#8217;s important to weigh a number of aspects, including premium costs and the frequency and length of payouts.<\/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-5c7e2c7 elementor-widget elementor-widget-heading\" data-id=\"5c7e2c7\" 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<h4 class=\"elementor-heading-title elementor-size-default\">4. Have you been refused membership in ElderShield or given the option to opt out?\n\n<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb5e607 elementor-widget elementor-widget-text-editor\" data-id=\"bb5e607\" 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;\">Because CareShield Life provides universal coverage, you can sign up for it even if you opted out of ElderShield or were too old to enroll in it in 2002. As long as you&#8217;re not yet severely disabled, you will be allowed to opt in.<\/span><\/p><p><span style=\"font-weight: 400;\">Premium estimates for CareShield Life are available here for people born in 1979 or before.<\/span><\/p><p><span style=\"font-weight: 400;\">We advise you to give CareShield Life serious thought so you can take advantage of its superior protections.<\/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>CareShield Life was introduced two years ago, and is now mandatory for all adults aged 30\u201340 years old. However, the CareShield Life team has recently sent out letters to anyone over the age of 40 to notify them of the option to switch from ElderShield to CareShield Life. If you are a Singaporean or Permanent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":955,"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-954","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\/11\/Understanding-Careshield-Article-Feature-Image-1.png?fit=1507%2C969&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/954","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=954"}],"version-history":[{"count":5,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/954\/revisions"}],"predecessor-version":[{"id":982,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/954\/revisions\/982"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media\/955"}],"wp:attachment":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media?parent=954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/categories?post=954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/tags?post=954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}