At a Glance

Ease the cost of long-term disability care

Higher monthly payouts in the event of severe disability

Eligible for all Singaporeans and PRs

After your 30th birthday

Affordable premiums

Payable with CPF MediSave up to approved limits

Did you know that CareShield Life Supplement adds on to CareShield Life by providing higher monthly payouts in the event of severe disability? We may be strong and healthy now but it’s always wise to plan for the unexpected.

You can now compare the CareShield Life Supplement plans from different insurance providers and pick a plan that suits your needs.

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Features & Benefits

What is CareShield Life and why you need CareShield Life?

By age 65, 1 in 2 Singaporeans may develop a severe disability, which may require long-term care.

CareShield Life is a long-term care insurance which provides financial protection against long-term care costs for Singaporeans in the event of severe disability.

During severe disability, the scheme provides lifetime cash payouts starting from S$600/month (assuming that a successful claim is made in Year 2020) and increases annually at 2% per year until the age of 67 or when a successful claim is made, whichever is earlier.

Refer to table below for illustration.

What are your CareShield Life payouts if you develop severe disability?

table image

1 Singaporeans born in 1979 or earlier can only join CareShield Life from 6 November 2021.

CareShield Life and CareShield Life Supplement
What is CareShield Life? Basic CareShield Life provides a payout upon severe disability to support the cost of long-term care. Severe disability is defined as requiring assistance in at least 3 of these 6 activities of daily living (ADLs):
 
  • Feeding or eating without help
  • Getting dressed
  • Using the toilet
  • Bathing
  • Moving or walking on flat ground
  • Transferring from the bed to a chair, or vice versa
What is CareShield Life Supplement? CareShield Life Supplement complements the Basic CareShield Life by offering additional benefits such as higher monthly payout amounts and wider coverage.

Do I have a CareShield Life Supplement?

Get a consolidated view of all your insurance coverage, including CareShield Life Supplement, when you link SGFinDex on DBS/POSB digibank. Here's how:

SGFinDex gif

Alternatively, check it on the CPF website. Here's how:

Step 1: Visit the CPF website
Step 2: Log in using Singpass
Step 3: Hover over ‘my cpf’ and select ‘Healthcare’ under ‘My dashboards’
Step 4: Select ‘Long-term care insurance’ on the anchor links or scroll down to the ‘Long-term care insurance’ section

If you have a CareShield Life Supplement plan, the insurer of your Supplement plan will show up (i.e. Singlife, Income or Great Eastern) in this section.

If you do not have a Supplement plan, this section will not reflect any information.

 

How it works

What should I look out for when selecting a plan?

You should consider your caregiving preference in the event you are severely disabled. The cost varies widely, based on an individual’s condition, type of disability, and care preferences.

As an estimate, it could range between S$900 and S$4,000 per month before subsidies, depending on whether care is provided at home, at a day care centre, or in a nursing home. This is separate from the cost of engaging a domestic helper and other common expenses including assistive devices such as walking sticks and wheelchairs.

How much does the premium cost?

The premium of CareShield Life Supplement can be paid by cash or by using the insured’s own or the insured’s family member’s (e.g. spouse, parents or children, sibling or grandchild) MediSave, up to a limit of S$600 per year. Cash can be used for the remaining amount above S$600.

 

Eligibility Requirements

All Singaporean Citizens and Permanent Residents are eligible after their 30th birthday.

If you were born in the year 1979 or earlier, you can opt in for CareShield Life here.

If you were born in the year 1980 to 1993, you’re automatically covered by CareShield Life starting 1 October 2020 or when you turn 30 years old.

If you were born in the year 1994 or later – fret not, you will be automatically covered when you turn 30.

You can purchase a CareShield Life Supplement if you have an existing CareShield Life policy.

 

Compare now

Head over to Health Marketplace where you can compare CareShield Life Supplement plans offered by Income and Singlife to pick a plan that works best for you.

Compare now

Disclaimer

The DBS Health Marketplace does not provide information on all Integrated Shield Plans and CareShield Life Supplements available in Singapore and only displays information from DBS’ insurer partners. While we strive to keep all our insurers’ partners product information accurate and up to date, please note that the most updated product information will be only available on our insurer partners’ own site. We may receive fees or commission from our insurer partners for marketing or selling their products to you. The information provided on DBS Health Marketplace is only for education and your general information. Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. If you require advice relevant to your own circumstances, please speak to a financial adviser. If you have chosen not to do so, you should read the precise terms, conditions and exclusions of the plan which can be found in the policy conditions available in the insurer partner’s website, including the free-look provision, and consider whether the plan is suitable for you.

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