Oops. I have become an "elderly" at age 40! That is according to the Eldershield insurance scheme, which automatically covers all Singaporeans and Permanent Residents from age 40 onwards if you do not opt-out. Just to introduce what is Eldershield, it is a disability insurance scheme which provides a monthly payout of $400 for a total of 72 months if you are unable to carry out any 3 of 6 daily activities, such as washing, dressing, feeding, toileting, mobility and transferring. The annual premium depends on the age of entry into the scheme. Since the scheme has been in place since 2002, most people would join the scheme at the age of 40. The annual premium is currently $174.96 for males and $217.76 for females, payable until the age of 65. The benefits would be payable at any time during the life-time of the Insured (for a maximum ...