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Best Careshield Life Supplement Singapore 2024

Dive into our comprehensive comparison of over 15 leading life insurance providers in Singapore, all to help you pinpoint the optimal Careshield Supplement plan.
Minimalistic shield symbolizing protection. The shield is in a brighter shade of green. Within the shield, the clear message '20% Lifetime Discount' is displayed, while the 'Limited Offer' wording is positioned below it in a contrasting shade of orange. The background remains a muted, light gray, emphasizing the simplicity and professionalism of the design, suitable for an insurance plan for long-term disability.

Competitive Quotes Over 15 Life Insurers

The Ministry of Health notes that 1 in 2 healthy Singaporeans aged 65 might face severe disability in their lives, necessitating long-term care. Such conditions can result from unexpected events like strokes, chronic disease progression like diabetes, or age-related illnesses such as dementia.

At Tree Of Wealth, we meticulously compare over 15 life insurance providers to guide you in selecting the term insurance that resonates best with your distinct needs.

Review: Best Careshield Life Supplement Option [In-Depth Analysis]

About Careshield Supplements

Claim for 1 or 2 ADL Inabilities – CareShield Supplement plans cover 1 or 2 out of 6 of the defined Activities of daily living e.g. Washing, Feeding, Toileting, Dressing, Mobility & Transferability. 

Lifelong ADL Coverage – While standard TPD coverage stops ADL-based payouts post age 70, Careshield Life and its supplement offer lifelong ADL-defined benefits.

How Upgrading Your Careshield Insurance Plan Benefits You

1/6 ADLs Coverage

Long-term Disability are determined by the inability to perform Activities of Daily Living (ADLs). Claims can be based on the incapability to carry out 1 or 2 of these 6 ADLs.

Medisave Eligibility

You can tap into an additional $600 yearly from Medisave for this upgrade, beyond the integrated shield hospital plan limit.

Enhanced Coverage

Choose a boosted payout up to $5,000/month for life, compared to the current Careshield Life's $600/month.

Get Thorough Quotes Across Different Critical Illness Insurers

Get In-Depth Term Insurance Plan Comparisons Here.

ntuc income

Income Care Secure

Premium Payment
68th or 85th Age Next Birthday
2/6 ADLs Payouts
Payouts inclusive with Careshield Life payouts – Not additional
Special Benefits
25% Dependent Benefit payout for a maximum of 36 months.
Singlife with Aviva

Singlife CareShield Plus

20% Lifetime Discount Now On

Premium Payment
68th or 98th Age Next Birthday
1/6 ADLs Payouts
100% Monthly Payout (Up to 12 months)
2/6 ADLs Payouts
Receive Additional payouts on top of Careshield Life
Special Benefits
Premium waiver & bonus payout for 1/6 ADL incapacity. 60% Caregiver Benefit (12 months); 25% Dependent Care (36 months).
8 important life Insurance jargon you need to know

Key Considerations

When Purchasing Careshield Life Supplement:

  1. Be aware of GST Charges. If GST rises, it may affect your premium due to Medisave Withdrawal Limitations.
  2. Understand if your plan’s payouts are inclusive or exclusive of Careshield life when unable to perform 3 of the 6 ADLs.
  3. Verify if your plan offers a paid-up benefit, ensuring continued, prorated coverage even if you halt premium payments after some years.

Premiums at a Glance

Age 30, Non-Smoker

Based on $1,500 Monthly Payout, based on inability to perform 2/6 ADLs with the longest payment duration.
InsurerMale Annual PremiumFemale Annual Premium

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Tailored to your needs, our MAS-Licensed Partner provides and customizes unbiased solutions and compare for you across various providers.

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    Frequently Asked Questions

    Initiated in 2020, Careshield Life is a government program designed to offer monthly income if the insured becomes severely disabled. Severe disability, as defined currently, refers to the incapability to perform 3 out of the 6 Activities of Daily Living (ADLs): Washing, Feeding, Dressing, Toileting, Mobility, and Transferability.

    From 2020 onward, Careshield Life is a mandatory coverage for all Singaporeans and Permanent Residents aged 30 and above. The plan can be financed through Medisave.

    Given that the typical monthly expenses for long-term care can exceed $2,400 — encompassing daily living aids, routine expenses, caregiver costs, medication, therapy, and other miscellaneous charges — and with potential inflationary increases, enhancing your coverage is a prudent financial move if it’s within your budget.

    Careshield Life covers all pre-existing conditions. However, when it comes to the Careshield Life supplement, coverage for such conditions varies. Depending on the specifics of the condition, there might be additional charges (loading) or certain conditions might be excluded from the coverage.

    While many maximize their Medisave withdrawal limits for Careshield Life, if you foresee higher needs and can manage cash payments, consider accounting for your daily costs and anticipated disability-related expenses to ensure sufficient coverage.

    The Careshield Life supplement allows claims based on the inability to execute 2 of the 6 daily activities. Some plans even provide payouts and waive premiums for just 1 unmanageable activity.

    No, only the base Careshield Life is obligatory. Upgrading with supplements is entirely optional.

    Consider upgrading the moment you’re eligible. Premiums tend to be lowest at your current age, and if you’re in good health, it’s best to capitalize on it.

    No, occupational factors aren’t considered in the underwriting for Careshield supplements.

     Your current disability plans might differ in coverage definitions from Careshield Life or may expire after a certain age. Careshield Life and its supplements offer lifetime protection, as long as you maintain the premium payments.

    Simply click on “get quotes”, and a seasoned financial advisor will guide you, offering impartial advice and gathering quotes from various providers for comparison. The service is entirely free, with no obligations attached.

    CareShield Life (终身护保) is a disability insurance scheme for Singaporean residents that will be launched in 1st October 2020. If you are born 1980 or later, it is compulsory for you. You will be automatically enrolled and will start paying premiums for it. Here we talk about the differences between the two: ElderShield, CareShield Life & MediShield Life: What Are The Differences?

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