Health Insurance

Understanding ElderShield In Singapore

ElderShield is a long-term care insurance targeted at severe disabilities. It provides cash payouts of $300 or $400 per month, for up to five or six years, depending on the plan type. Premiums are determined when you enter the scheme and remain fixed. You make yearly payments until the policy anniversary after turning age 65, or when you make a successful claim.
Author Bowtie Team
Date 2022-09-26
Updated on 2022-09-26
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What is ElderShield?Benefits of ElderShieldWho is eligible for ElderShield?Premiums of ElderShieldCareShield VS EldershieldHow to change from Eldershield to CareShield Life?When are you eligible to claim? How to claim Eldershield ?

Until 2019, all Singapore Citizens and Permanent Residents with MediSave Accounts were enrolled in ElderShield at the age of 40, unless they opted out. In 2020, auto-enrolments into ElderShield were discontinued. Singapore Citizens and Permanent Residents who turned 40 in 2020 were instead enrolled into CareShield Life.

What is ElderShield?

ElderShield was introduced in 2002 as a basic long-term care insurance scheme targeted at severe disability, especially during old age. When it was introduced, it provided payouts of $300/month for up to 5 years upon severe disability. It was subsequently reviewed in 2007 to provide better benefits of $400/month for up to 6 years. The benefits you will receive depends on which scheme you joined.

Previously, coverage was provided by one of the three private insurers appointed by the Ministry of Health: Singlife with Aviva, Great Eastern or Income Insurance. Since 1 November 2021, the Government has taken over the administration of ElderShield from the insurers.

Benefits of ElderShield

1. Lifetime coverage

You will continue to be covered for life once you’ve completed paying all your premiums at age 65.

 2. Monthly Payouts

You will receive a monthly cash payout for up to five or six years, depending on your plan type. With ElderShield 400, you’ll get $400 per month for up to 72 months, and with ElderShield 300, you’ll get $300 per month for up to 60 months.

3. Worldwide coverage 

You’ll remain covered, be able to make a claim, and receive payouts no matter where you live in the world.

Who is eligible for ElderShield?

Until 2019, all Singapore Citizens and Permanent Residents with MediSave Accounts were automatically enrolled in ElderShield at the age of 40, unless they opted out. In 2020, auto-enrolments into ElderShield were discontinued. Singapore Citizens and Permanent Residents who turned 40 in 2020 were instead enrolled into CareShield Life.

To check if you are covered, follow these steps: 

  1. Log in using your Singpass. 
  2. Hover over “my cpf” and click on “Healthcare” under “My dashboards”. 
  3. Click on “Long-term care insurance” on the anchor links or scroll down to the “Long-term care insurance” section. 

If you’re not covered, no information on ElderShield will be reflected.

Premiums of ElderShield

There are 2 key premium features: 

  1. ElderShield premiums are fully payable by MediSave. You may use your own MediSave to pay your premiums. Family members (i.e. spouse, parents, children, siblings or grandchildren) can also use their MediSave to help you pay your premiums on your behalf. If there are insufficient funds in your MediSave, you can top up your MediSave via e-Payment through CPF e-Cashier
  2. ElderShield premiums remain fixed over time. Your premium amount is determined at the age of entry and does not increase with age. Premiums are payable annually until the policy anniversary after your 65th birthday or when you make a successful claim, whichever is earlier.

ElderShield400 and ElderShield300 Premiums

Entry Age Number of Premium Payments Annual Premiums (Payable till age 65¹) (SGD)
ElderShield400 ElderShield300
Male Female Male  Female
40 26 $174.96 $217.76 $151.67 $194.26
41 25 $182.03 $227.11 $156.86 $201.53
42 24 $189.71 $237.29 $164.14 $210.89
43 23 $198.12 $248.41 $171.40 $220.24
44 22 $207.36 $260.60 $178.68 $230.62
45 21 $217.53 $274.03 $188.03 $242.04
46 20 $228.78 $288.87 $197.38 $255.55
47 19 $241.27 $305.32 $207.76 $269.06
48 18 $255.21 $323.68 $220.24 $284.64
49 17 $270.83 $344.23 $233.74 $302.30
50 16 $288.44 $367.40 $248.28 $322.04
51 15 $308.44 $393.70 $264.90 $343.86
52 14 $331.34 $423.79 $283.60 $369.82
53 13 $357.79 $458.55 $305.42 $398.92
54 12 $388.67 $499.13 $330.35 $432.15
55 11 $425.19 547.10 359.43 471.63
56 10 $469.03 604.68 394.76 519.42
57 9 $522.60 675.03 436.31 576.55
58 8 $589.48 $762.94 $488.25 $648.24
59 7 $675.36 $875.94 $554.74 $739.65
60 6 $789.68 $1026.56 $643.04 $861.19
61 5 $949.43 $1237.34 $764.58 $1030.53
62 4 $1188.56 $1553.35 $946.38 $1284.00
63 3 $1586.26 $2079.69 $1247.64 $1703.69
64 2 $2380.17 $3131.62 $1844.97 $2540.99

¹ Premiums are payable until the policy anniversary after your 65th birthday.

Note: Premiums shown above are inclusive of 7% GST and correct as at 14 Jan 2021.

 

CareShield VS Eldershield

CareShield Life Eldershield 400 Eldershield 300
Purpose To provide financial support for life as long as you remain severely disabled To help pay out-of-pocket expenses for the care of the severely disabled To help pay out-of-pocket expenses for the care of the severely disabled
Coverage
  • Optional for Singaporeans born ≤ 1979
  • Compulsory for Singaporeans born ≥ 1980
Optional Optional
Payout $624/month in 2022, increases 2% p.a. but payouts will be locked in for as long as you remain severely disabled $400/month $300/month
Duration of payout Lifelong 72 months (6 years) 60 months (5 years)
Premium duration Payable till age 67 or 10 years for those who join at age 59 or older Payable till age 65 Payable till age 65
Government subsidies Yes, depending on circumstances None None

How to change from Eldershield to CareShield Life?

Please note that the ElderShield scheme is no longer open for new applications. In 2020, auto-enrolments into ElderShield were discontinued. Singapore Citizens and Permanent Residents who turned 40 in 2020 were instead enrolled into CareShield Life.

If you are an ElderShield 300/400 insured, you can receive CareShield Life premium subsidies if you upgrade to CareShield Life. CareShield Life is a new scheme, and these subsidies will ensure that the premiums remain affordable even as the new scheme offers better protection and benefits. 

Once you have joined CareShield Life, your ElderShield policy will be replaced by your CareShield Life policy. The ElderShield premiums which you have paid will be taken into consideration when computing your CareShield Life premiums.

If you are born between 1970 and 1979, insured under ElderShield 400, and not severely disabled, you will be automatically enrolled into CareShield Life from 1 December 2021. No action is required if you wish to join CareShield Life. You will receive a CareShield Life welcome package, which provides more information on your CareShield Life coverage and personalised premiums. 

If you are not auto-enrolled and wish to join CareShield Life, you may access the Application to join CareShield Life e-Service with your Singpass.

When are you eligible to claim?

You can apply to receive ElderShield payouts if you’re determined by an MOH-accredited assessor to be unable to carry out three of the six activities of daily living (ADL) listed below:

  1. Washing: The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.
  2. Dressing: The ability to put on, take off, secure, and unfasten all garments and, as appropriate, any braces, artificial limbs, or other surgical or medical appliances.
  3. Feeding: The ability to feed oneself food after it has been prepared and made available.
  4. Toileting: The ability to use the toilet or manage bowel and bladder function through the use of protective undergarments, such as diapers or surgical appliances, if appropriate.
  5. Mobility: The ability to move indoors from room to room on level surfaces.
  6. Transferring: The ability to move from a bed to an upright chair or wheelchair, and vice versa.

You are not eligible to receive ElderShield payouts, if you’re assessed by a Ministry of Health (MOH)-accredited assessor to be not severely disabled.

How to claim Eldershield ?

To make a claim, you should first arrange with a MOH-accredited severe disability assessor for a disability assessment. Then, you shall submit your application by logging in to AIC’s e-Service portal (eFASS) with your Singpass. 

The assessment costs $100 for a clinic assessment and $250 for a house call, both of which are payable to the assessor at the time of assessment. The full fee will be reimbursed if you are assessed to be severely disabled, and will be reimbursed with the first payout.

1.How to terminate Eldershield?

You can terminate your ElderShield via the Termination of ElderShield e-Service if you do not wish to continue to be covered under the scheme. However, you will lose all existing benefits, and you may have to go for a medical assessment if you wish to join CareShield Life. You are therefore encouraged to keep your ElderShield policy to ensure access to basic protection for long-term care.

2.Can I upgrade from ElderShield 300 to ElderShield 400?

ElderShield 300 insured was given a one-time option to upgrade to ElderShield 400 in 2007.  Upgrades from ElderShield 300 to ElderShield 400 are no longer accepted.

 

3.Can I pay for my family members?

You can pay the ElderShield premiums for your family members (i.e. spouse, parents, children, siblings or grandparents) using your MediSave. To do so, you can visit the Change Premium Payer e-Service and log in using Singpass to complete the application.

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The above information was provided by Bowtie Team. It is for reference only. In no event shall Bowtie be liable to you or to any other party for any loss or damage whatsoever or howsoever caused directly or indirectly in connection with your access to or use of the content thereon.

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