Time flies, and it’s been more than a year since we examined CareShield Life and the various supplements offered by private insurers (see here). Since then, CareShield Life has been launched, and made mandatory for those aged between 30 to 40 years of age. But more recently, the above 40’s have received a letter from the CareShield Life team, informing them that they can switch from ElderShield to CareShield Life. So, should we bother switching from ElderShield to CareShield Life? Or should we stay put with ElderShield? Or should we consider opting out of both?
As expected, the letter from the CareShield Life makes it look very attractive to switch, extolling the various improved payouts:
CareShield Life vs ElderShield400 CareShield Life [NEW!]ElderShield400Payout Amount$612/month and increases annually until age67, or when a successful claim is made,
whichever is earlierFixed at $400/monthPayout Duration
Lifetime
Up to 6 yearsGovernment Subsidies
Yes
No Source: Careshield Life Team...
