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GREAT CareShield is a long-term disability care insurance that pays out when you are unable to perform any of the 6 Activities of Daily Living. It can be paid with your MediSave funds and offers up to 90% more in monthly benefits for caregiving and child support.
- Supplement CareShield Life with GREAT CareShield - Great Eastern Singapore
Currently, GREAT CareShield is a MediSave-approved...
- GREAT CARESHIELD - Great Eastern Singapore
To supplement your CareShield Life plan, GREAT CareShield...
- Product Summary GREAT CareShield
GREAT CareShield is provided by The Great Eastern Life...
- GREAT EASTERN LIFE GREAT CareShield POLICY VERSION 10/21
If purchased by ESH policyholders before the transfer of ESH...
- Get Quotation - Great Eastern Life
GREAT CareShield can be purchased by CareShield Life or...
- Supplement CareShield Life with GREAT CareShield - Great Eastern Singapore
Currently, GREAT CareShield is a MediSave-approved supplementary plan available in the market that provides up to lifetime payouts starting from the mild disability stage. In addition, there is also no limit to the number of claims on the Initial Benefit.
GREAT CARESHIELD is a supplementary plan to CareShield Life that provides monthly payouts for moderate and severe disabilities. It offers two plan types, Advantage and Enhanced, with different benefit amounts and premium payment terms.
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- What Is Careshield Life?
- Why Upgrade Your Careshield Life?
- Comparison of Careshield Life Supplements
- NTUC Income Care Secure Careshield Life Supplement
- Aviva Longterm Care Pluscareshield Life Supplement
- Great Eastern Great Careshield Life Supplement
- Verdict: Which Careshield Supplement Is Best?
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CareShield Lifewas introduced in 2020 to replace the previous ElderShield scheme (which was optional). Here are a few quick facts about this national disability income scheme : 1. All Singaporeans are automatically enrolled from age 30 2. Compulsory; cannot opt out 3. Annual premiums are paid through Medisave 4. Pays out $600 a monthif you become s...
In line with the government’s stance that there should be no free lunch, CareShield Life’s benefits are extremely basic. $600 a month doesn’t go very far for someone who is severely disabled, needs a caregiver and in all likelihood cannot work. You can use up to $200 of your MediSave funds under the MediSave Care umbrella for long-term care needs, ...
CareShield Life supplements from private insurers can increase your monthly payouts, and there are currently 3 providers: NTUC Income, Aviva and Great Eastern. Here’s what’s available at the moment. *Annual premium for 35-year-old female Note that you can adjust your private CareShield supplement payouts to up to $5,000 a month. But we chose the mo...
NTUC Income’s Care Secure offers lifetime coverage with a guaranteed payout of $1,200 to $5,000 if you become disabled and are unable to perform at least 2 ADLs. This requirement is easier to fulfil than CareShield Life’s requirement of not being able to perform 3 ADLs before qualifying for payouts. Note that NTUC Income Care Secure’s payouts INCLU...
Aviva’s LongTerm Care Plus offers lifetime protection and bumps up your payouts by $200 to $5,000 a month when you are unable to perform at least 2 out of the 6 ADLs (lower than CareShield Life’s requirement of 3). These payouts are IN ADDITION TO your CareShield Life payouts. So, if you buy a LongTerm Care Plus plan with a $1,000 benefit, you will...
Great Eastern’s GREAT CareShield plan provides monthly payouts of $300 to $5,000 on top of your CareShield Life payouts when you are unable to perform at least 2 ADLs (as opposed to the 3 required by CareShield Life). The plan has two tiers, Enhanced and Advantage. Not exactly obvious given the “every school is a good school” approach to naming the...
All 3 CareShield Life supplement plans are most beneficial in slightly different areas. NTUC Income Care Secure is the most cost-effective plan if you cannot perform two ADLs, but not if you become severely disabled and cannot perform three ADLs, as the plan actually pays out less in that case since it is offset by CareShield Life payouts. Meanwhil...
Learn how to upgrade your basic CareShield Life plan with private insurance from NTUC Income, Aviva or Great Eastern. Compare the premiums, payouts and benefits of each supplement plan and find out which one suits your needs.
- Joanne Poh
GREAT CareShield is provided by The Great Eastern Life Assurance Company Limited, at 1 Pickering Street, #01-01, Great Eastern Centre, Singapore 048659. The Great Eastern Life Assurance Company Limited is a wholly owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group.
If purchased by ESH policyholders before the transfer of ESH to Government administration, GREAT CareShield will be considered as an ESH Supplement regulated under the CPF (Withdrawals for ElderShield Scheme) Regulations.
GREAT CareShield can be purchased by CareShield Life or ElderShield policyholders. All Supplements are regulated under the CareShield Life and Long-Term Care Act. You can pay the premium for GREAT CareShield using your own CPF MediSave account. The maximum MediSave deduction is 600 SGD for each life assured in each calendar year only.
