CareShield Life: What you need to know about the new scheme

CareShield Life is to help you financially should you become severely disabled and require long-term care.
CareShield Life is to help you financially should you become severely disabled and require long-term care. PHOTO: ST FILE

A new long-term care insurance, called CareShield Life, will be launched in 2020, and will be compulsory for everyone aged 40 years and younger in that year. The Government has promised financial help for people from lower-and middle-income households, and for those who have trouble paying the premiums.

Here is what you should know about this new scheme:

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A version of this article appeared in the print edition of The Straits Times on May 29, 2018, with the headline 'CareShield Life: What you need to know about the new scheme'. Print Edition | Subscribe