Both are insurance schemes that cover policyholders for as long as they live. While ElderShield covers people with severe disabilities, MediShield takes care of large hospital bills. You can opt out of ElderShield but not MediShield.
Launched in 2002, ElderShield was designed to provide basic financial protection to Singaporeans who need long-term care. With ElderShield, you stop paying premiums after 65. You can continue to make a claim at any age afterwards, but the monthly cash payouts will last only up to six years. Those with supplementary plans will have enhanced cover.