On 2 Sep 2019, the Parliament passed the CareShield Life and Long-term Care Bill.
In 2020, CareShield Life will replace the existing ElderShield scheme.
What is CareShield Life?
Similar to the ElderShield scheme, CareShield Life is a long-term disability insurance covers Singapore Citizens or Permanent Residents if they suffer have severe disability – which means they are unable perform at least 3 out of 6 Activities of Daily Living:
Source: moh.gov.sg
Anyone enrolled under CareShield Life who becomes severely disabled would receive a payout of at least S$600 per month for as long as they are disabled, and for lifetime if need be. This would help defray the costs of their care.
Source: moh.gov.sg
If you are a Singapore Citizen or Permanent Resident born in 1980 or later, participation is mandatory, You will automatically join the new scheme in 2020 or when you turn 30, even if you have any pre-existing conditions or disabilities.
If you are a Singapore Citizen or Permanent Resident born in 1979 or earlier, participation is optional. You can join CareShield Life from 2021 onward, if you are not severely disabled. More details on the premiums, subsidies and support package will be announced at a later date.
To read more about CareShield Life, you can visit the MOH or CPF website.
