At a Glance

Supplements ElderShield to provide protection against severe disability1

 

Provides higher payouts with level premiums that do not increase with your age2

 

Offers choices in benefit payout duration

 


Our golden years should be relaxing and stress-free. However, the high financial cost of severe disability can impact your lifestyle and goals. For this reason, the Ministry of Health (MOH) designed ElderShield to provide monthly cash payouts for those with severe disabilities requiring long-term care.

ElderShield provides a basic level of protection against severe disability1 and is designed to be a starting point for your needs. With MyCare and MyCare Plus, which are MediSave-approved ElderShield Supplements, you can transform your ElderShield coverage to get higher payouts that last up to a lifetime. The premiums do not increase with age too2.

 

Features & Benefits

Features

  • Lifetime or up to 12 years benefit payouts – guaranteed monthly Severe Disability benefit for up to the rest of your life3, should severe disability1 strike.
  • Limited premium payment term available – you can still make a severe disability claim after premium payment stops. Premiums are waived4 for the duration of your benefit payouts too.
  • Support provided even after partial recovery – Receive Rehabilitation Benefit5 that is 50% of your monthly Severe Disability benefit if you recover but still unable to perform 2 ADL.
  • Extra cash for you if you have any children aged 21 and below – an additional S$200 per month for up to 36 months.
  • Pay with MediSave – use your MediSave funds of up to S$600 per calendar year per Life Assured6, or use the MediSave of your spouse, children, parents or grandchildren.
  • Premiums are level2 and based on age at entry – start young to enjoy lower premiums.

 

Benefits

Key Benefits  ElderShield 400 MyCare  MyCare Plus
Requirements For Benefit Payouts Inability to perform at least 3 out of 6 "Activities of Daily Living (ADL)" such as washing, toileting, dressing, mobility, feeding and transferring (say from bed to wheelchair) Inability to perform at least 2 out of 6 ADL
Benefit Payout Duration Up to 6 years (72 months) Lifetime payout or up to 12 years (144 months) Lifetime payout or up to 12 years (144 months)
Premium Term Pay up to the policy anniversary after your 65th birthday (66 age next birthday) (i) Lifetime;
OR
(ii) Pay up to the policy anniversary after your 65th birthday (66 age next birthday), or for 20 years, whichever is later.
Lifetime
Monthly Severe Disability Benefit Up to S$400 S$600 to S$5,000 (in increments of S$100), including ElderShield benefit
Lump Sum Benefit Nil Additional 3 times of your first monthly income
Rehabilitation Benefit5 Nil 50% of your monthly Severe Disability Benefit for the remaining Benefit Payout Duration Nil
Dependent Care Benefit Nil Additional S$200 per month up to 36 months if you have a child aged 21 years and below at point of claim
Death Benefit Nil Additional 3 times of your last drawn monthly Severe Disability Benefit
Waiting Period 90 days / Waived for accidental causes and auto coverage Nil 90 days.
Waived for accidental causes and/or inability to perform 3 or more ADL.
Deferment Period 90 days

Please refer to the Product Summary for more details.

Footnotes:

1 Severe Disability shall mean the inability to perform at least 3 of the 6 (for ElderShield/MyCare) or 2 of the 6 (for MyCare Plus) Activities of Daily Living (ADL). The 6 ADL are Transferring, Mobility, Toileting, Washing, Dressing and Feeding. For detailed definitions, please refer to the Product Summary.
2 The premium rates are not guaranteed and these rates may be adjusted based on future experience, by giving you 30 days’ advance notice.
3 Applicable 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.
4 No premium will be payable during the period when the Life Assured is receiving either the Severe Disability Benefit or the Rehabilitation Benefit. Premium payment will resume when the Life Assured no longer suffers from the Severe Disability or no longer meets the requirements for the Rehabilitation Benefit.
5 The Rehabilitation Benefit is only available for MyCare. It will be payable when the Life Assured recovers from a Severe Disability but is still unable to perform 2 out of 6 ADL even with special aids, and requires physical assistance from another person throughout the activities. The Rehabilitation Benefit will be payable for the remaining Benefit Payout Duration.
6 Premiums exceeding the S$600 MediSave deduction limit will have to be paid in cash. If there are insufficient funds in the MediSave account, cash payment will be required for the difference.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

DBS Treasures Insurance Important Notes

Information is correct as at 14 December 2020.

 

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