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ElderShield was first launched by the Ministry of Health in September 2002 as an affordable severe disability insurance scheme which provides basic financial protection to those who need long term care. It provides a monthly cash payout for a limited period to help pay out-of pocket expenses for the care of severely disabled persons. |
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All Singaporeans and Permanent Residents (PRs) who are CPF members and who reach the age of 40 are automatically covered under ElderShield unless they opt out of the scheme. Premiums for ElderShield can be made from CPF members' Medisave Accounts. A CPF member can also use his Medisave monies to pay the ElderShield premiums for his parents, spouse, grandparents and children. Benefits are claimable under ElderShield at any age for the rest of your life once all premiums are fully paid. |
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In 2007, the Ministry of Health made the following changes to the ElderShield scheme.
(1) The monthly payout is increased from $300 to $400 and the maximum payout period has been extended from 60 to 72 months. |
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(2) Introduction of the ElderShield Supplements, where ElderShield policyholders who wish to obtain higher severe disability insurance coverage can purchase ElderShield Supplements. |
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The Ministry of Health has appointed 3 insurers to offer ElderShield and ElderShield Supplements. The insurers are: Aviva Ltd, Great Eastern Life Assurance Co Ltd and NTUC Income Insurance Cooperative Ltd. |
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The premiums for the ElderShield Supplements can also be made from Medisave, subject to a cap of $600 per insured person per calendar year. ElderShield policyholders must first have a basic ElderShield before they can use their Medisave to purchase any ElderShield Supplements. Applications for the ElderShield Supplements can be made directly with any of the appointed ElderShield insurers. |
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For more information on ElderShield or ElderShield Supplements, please contact the ElderShield insurers or the Ministry of Health. |
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