Long-term care is needed for dependent older persons. However, the cost of long-term care and duration of disability are unpredictable. Thus, a new long-term disability program so called “CareShield Life” has been introduced to provide a basic lifetime financial support for those who are aged and severely disabled in Singapore.
The old scheme “ElderShield” was replaced by the “CareShield Life” since October 2020, aiming to provide better protection for those who have severe disability with higher payouts.
From Nov 6, the long-term disability support scheme will open for online sign-up to those who are Singaporeans and permanent residents born in 1979 or earlier.
To promote enrolment among the insured population, the government will provide the incentives up to S$2,500 to all Singaporeans born in 1979 or earlier applying for the CareShield Life by Dec 31, 2023. To read more, please click.
Source: Channel News Asia
Picture by Creativa Images
