It is a month since the introduction of Careshield Life to the public with hardly any data or information to make sense of the premiums vis-a-vis the payouts. By now, everyone must be wary of the Eldershield experience, where only 3% of the premiums collected have been paid out. This of course leads to the suspicion that it is a scheme to profit at the expense of the insured. Is this the case for Careshield Life as well? In short, should I care about Careshield Life, or is Careshield Life just a rip-off?

Now, from our previous dissection of CPF Life, we know that it is unlikely that Careshield Life is a rip-off. After all, if the CPF administers it and we pay the premiums through Medisave, there are no profits for shareholders, salaries for the staff, or operational costs to cover for the Careshield Life. However, to figure out what Careshield Life is worth to