All About ElderShield

     ElderShield is a Singapore based disability insurance company that provide financial protection for residents who need long-term care for the elderly and people with disabilities. The company offers several types of insurance coverage. Some are Basic, Supplements to the Basic, and Universal coverage.

New Questions About ElderShield

     The premiums are paid via your Medisave account. When you turn 40, you will be automatically enrolled into the ElderShield plan. The premiums are paid annually until age 65. Your premium is dependent on your entry age once you joined the scheme and doesn't increase with age. The premium that you went in, depending on your age at that moment, will be locked in, meaning you will pay the exact same premium the entirety of the plan if you don't opt to upgrade your plan. The insurance policy premium is waived in case of a claim.

You will be given a refund on your premiums only in the event you terminate or cancel your policy within the initial 60 days of your very first policy year. For instance, the pay may help to decrease the cost of selecting a maid or lower the price of a nursing home. In reality, the cost will surely rise in the transition period whereby unnecessary administration cost is going to be incurred. With rising inflation, the price of living in Singapore will be even higher for your kids' generation. The Ordinary Account savings can be employed to obtain a house under the CPF housing schemes.

On top of that, you can raise your Eldershield benefits without forking out cash. You can pay a one-time lump sum payment that is equal to 3 times the first monthly payout. This assist you with your first expenses upon the beginning of the disability. No minimum quantity of RA savings will be required to join CPF LIFE, no matter how the monthly payout is dependent on the RA savings. The Medisave savings of your family is available for you if needed.

Please check Eldershield upgrade for more.