Your initial thought when you first discovered ElderShield might have been, “Elder? Who, me?” – especially if you happen to be born in the 1960s, or 1970s.

Or that the notification letter from one of the approved insurers administering ElderShield must have been a mistake – or at least vastly premature.

Your eyes might even have glazed over when your insurance agent or financial planner mentioned this seemingly irrelevant scheme to you when you were in your late 30s.

In a sense, it is understandable; whomever you ask, around the world, 40 – the age at which you first become eligible for ElderShield insurance – doesn’t immediately connote ‘elderly’ or ‘elder’. In fact, 50 or 55 might be a more reasonable qualifying age for a scheme with such a name.

The confusion (and perhaps hurt feelings) of 40-somethings notwithstanding, ElderShield is an important pillar in one’s financial planning. In (Read more...)