MyCare is a Medisave-approved ElderShield supplement with higher benefit payouts in the event of severe disability. MyCare is a health insurance offered at DBS.
ElderShield provides a basic level of protection against severe disability1 and is designed to be a starting point for your needs. With MyCare, a Medisave-approved ElderShield supplement, you can transform your ElderShield cover into lifetime benefits of higher benefit payouts, with premiums that do not increase with age.
|Requirements For Benefit Payouts|
Inability to perform at least 3 out of 6 ADL
|Benefit Payout Duration||Up to 6 years (72 months)||Unlimited lifetime payout or up to 12 years (144 months)|
|Monthly Severe Disability Benefit||S$400||S$600 to S$5,000 (in increments of S$100) including basic ElderShield benefit|
|Lump Sum Benefit||Nil||Additional 3 times your first monthly benefit1|
|Rehabilitation Benefit2||Nil||50% of your monthly benefit2 up to the end of the Benefit Payout Duration|
|Dependent Care Benefit||Nil||Additional S$200 per month up to 36 months if you have a child aged 21 years and below at the point of claim|
|Death Benefit||Nil||Additional 3 times your last drawn monthly benefit1|
|Waiting Period||90 days / Waived for accidental causes and auto coverage||Not Applicable|
|Deferment Period||90 days||90 days|
|Premium Payment Term||Till age 66 next birthday||(i) Lifetime or (ii) Till 66 age next birthday, or for 20 years from entry age, whichever is later.|
1Severe Disability shall mean the inability to perform at least 3 of the 6 Activities of Daily Living, which refers to Transferring, Mobility, Toileting, Washing, Dressing, and Feeding. Please refer to the Product Summary for details.
2Applicable only if you opt for a Lifetime Benefit Payout duration. Alternatively, you may choose to take up MyCare with a 12-year (144 months) Benefit Payout duration.
3If you opt for the limited premium payment term. Alternatively, you may choose to take up MyCare with lifetime premiums.
4Rehabilitation Benefit will be payable following a Severe Disability claim for the same benefit payout duration as the Severe Disability Benefit.
5Monthly Benefit refers to the applicable Severe Disability Benefit under MyCare
6If you have more than one policy, the Medisave limit of S$600 is applicable on the aggregate premiums of all ElderShield Supplement policies.
7The premium rates are not guaranteed and these rates may be adjusted by giving you 30 days advance notice, based on future experience.