Long-term disability insurance will become compulsory for people born from 1980 onwards, in a move to fortify Singapore's healthcare and ageing support.
The CareShield Life and Long Term Care Bill was passed yesterday.
CareShield Life will provide the basic long-term care needs for younger residents as they age, if they become severely disabled. Those born in 1979 or earlier also have the option to join.
Under the scheme, those who are severely disabled will be given at least $600 a month for the length of their disability to help them pay for the care they prefer. Severe disability is defined as inability to perform three of six activities of daily living, which are washing, feeding, dressing, toileting, mobility and transferring independently.
The premium and payout will be adjusted over the years to keep the payout sufficient for basic needs.
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