If you’re wondering what CareShield Life is all about, especially because you are in your thirties or just hit the big three-zero, this article is for you.

CareShield Life is a long-term care insurance which provides a payout when the insured is severely disabled. You pay your premiums (check your premium rate here) via Medisave, and when you are assessed to be disabled, a monthly benefit will be paid as long as you are disabled.

  1. Compulsory for citizens and PRs born in 1980 or later
  2. Premiums payable by Medisave until age 67 or 10 years after you join the scheme, whichever is later
  3. Lifetime coverage, including pre-existing disabilities

According to Ministry of Health, 1 in 2 healthy Singaporeans aged 65 could become severely disabled in their lifetime. The elderly are more vulnerable to being disabled, which is why the previous scheme was called ElderShield. Yep, for those in their thirties like myself, we’re now enrolled under what used to be called ElderShield.