Government to run ElderShield from 2021, taking over from three private insurers

SINGAPORE – The Government will run ElderShield from 2021 after reaching an agreement with Aviva, Great Eastern and NTUC Income, the private insurers currently administering the insurance scheme for people with severe disabilities. In a statement on Monday (Jan 7), the Ministry of Health (MOH) said that the Government will operate the scheme on a not-for-profit basis. “In the event that the actual claims experience turns out better than expected, there will continue to be premium rebates for ElderShield policyholders.” With the change, MOH said ElderShield policyholders will be able…

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Health Singapore 

Higher, lifetime severe disability payouts for those joining CareShield Life

SINGAPORE: The severely disabled who join an enhanced ElderShield scheme from 2020 will receive lifetime payouts as long as their condition continues, following recommendations by the scheme’s review committee. This is an improvement over the six-year limit to payouts under the ElderShield scheme, which will continue in its present form for existing policyholders. Under the enhanced scheme, to be called CareShield Life, the severely disabled will also receive higher cash payouts of at least S$600 per month. The monthly payouts that people will be eligible for when they become disabled will increase over…

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