Ensuring long-term care in case of severe disability

Both CareShield Life and ElderShield provide monthly payouts in the event of severe disability, defined as the inability to perform at least three of six activities of daily living independently.
Both CareShield Life and ElderShield provide monthly payouts in the event of severe disability, defined as the inability to perform at least three of six activities of daily living independently. PHOTO: ST FILE

Experts discuss the pros and cons of CareShield Life - the answer to enhancing the ElderShield scheme

Come 2020, CareShield Life - a national long-term care insurance - will be compulsory for those between the ages of 30 and 40.

Future cohorts will join automatically at the age of 30. People above 40 in 2020 have the option of sticking with ElderShield or switching to the new scheme in 2021 by topping up their premiums.

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A version of this article appeared in the print edition of The Sunday Times on July 01, 2018, with the headline 'Ensuring long-term care in case of severe disability'. Print Edition | Subscribe