7 Best CareShield Life Supplements [Based on your needs]

7 Best CareShield Life Supplements: Based on different needs!

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best careshield life supplement

Table of Contents

Let us take you through the various Careshield Life Supplements, and provide you a comparison of the available plans.

7 Best CareShield Life Supplements

Best For
Our Pick
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Best CareShield Life Supplement
Singlife with Aviva's MyLongTermCare
Most Comprehensive CareShield Life Supplement
Singlife with Aviva's MyLongTermCarePlus
Cheapest CareShield Life Supplement
NTUC Income's Care Secure
Best CareShield Life Supplement to Counter Inflation
Singlife with Aviva's MyLongTermCare and MyLongTermCarePlus
Best CareShield Life Supplement for 2 ADLs
Singlife with Aviva's MyLongTermCarePlus
Best CareShield Life Supplement for 1 ADL
GREAT CareShield
Best CareShield Life Supplement for Dependant Benefit
GREAT CareShield

What is CareShield Life?

In short, CareShield Life is a nationwide insurance scheme that offers Singaporeans basic financial aid where severe disability or need for long-term medical care arises.

It is an upgraded version of ElderShield, providing larger reimbursements and lifetime payouts till age 67 or retirement. You are automatically enrolled into CareShield Life at age 30 if you are born in 1980 or later.

If you’re looking to learn more about Careshield Life, check out our comprehensive guide to CareShield Life!

To fully understand the differences between CareShield and ElderShield, you may read our Careshield Life vs Eldershield comparison.

What is a Careshield Life Supplement?

Like Riders, Careshield Life Supplements enhances your basic CareShield Life coverage through additional benefits like higher monthly payouts.

You may make payment for your CareShield Life Supplement via cash, your MediSave, or your family members’ Medisave.

Payments using MediSave are capped at $600 per calendar year per insured individual.

Comparison of CareShield Life Supplements

Entry Age

You must be between age 30 and 64 to be covered under any of the CareShield Life Supplements.

Premium Payment Terms

The premium terms accompanying each plan are contrasted in the table below.

 Singlife with Aviva Great Eastern NTUC Income
 MyLongTermCareMyLongTermCare PlusGREAT CareShieldCare Secure
Premium WaiverUpon inability to perform at least 1 ADL, subject to a 90-day deferment periodPremium WaiverUpon inability to perform at least 1 ADL, subject to a 90-day deferment periodPremium WaiverUpon inability to perform at least 2 ADLs, subject to a 90-day deferment period
Deferment Period90 daysDeferment Period90 daysDeferment Period90 days
Premiums PayableLevelled or escalating (2% or 3% yearly)Premiums PayableLevelled based on entry age last birthdayPremiums PayableLevelled
Premium PeriodsMaleFemaleMaleFemalePremium PeriodsMaleFemalePremium PeriodsMaleFemale
Up to 97 ANB$256$309$306$370For entry age 30 to 47: Up to 95 ALB $287$383Up to 84 ANB$175$245
Up to 67 ANB, or 20 years after entry age$381$460$457$553For entry age 48 to 64: Up to 67 ALB, or 20 years after entry age$425$521Up to 67 ANB$218$337

Premium rates wise, Great Eastern’s GREAT CareShield charges the highest amount of premiums payable, followed by Singlife with Aviva’s supplements, and lastly NTUC Income’s CareSecure.

For the premium period, the plans under Singlife with Aviva have the longest period of up to 97 ANB. It also offers the option of escalating premiums which aligns rates to inflation.

You will want to note that Singlife with Aviva and Great Eastern are currently giving a 20% discount off their premium rates throughout your coverage period!

Benefits

The table below lists the benefits you are entitled to under the respective plans. Benefits are subjected to a 90-day Deferment Period, starting from the date you are certified severely disabled.

 Singlife with AvivaGreat EasternNTUC Income
 MyLongTermCareMyLongTermCarePlusGREAT CareShieldCare Secure
Eligibility for Monthly Benefit ClaimsUnable to perform at least 3 ADLsUnable to perform at least 2 ADLsUnable to perform at least 1 ADLUnable to perform at least 2 ADLs
Monthly Benefit
  • $200 – $5,000 on top of CareShield Life payouts, in $100 increments.
  • Choose from two payout options:
    • Levelled monthly benefits
    • Monthly benefits that escalate by 2% or 3% yearly

$300 – $5,000 on top of CareShield Life payouts, in $100 increments.

  • For inability to perform at least 1 ADL: 50% of monthly benefit
  • For inability to perform at least 2 ADLs: 100% of monthly benefit

$1,200 – $1,500 on top of CareShield Life payouts, in $100 increments.

  • For inability to perform at least 2 ADLs: 100% of monthly benefit
  • For inability to perform at least 3 ADLs: 100% of the monthly benefit, minus CareShield Life benefit received
Initial Lump Sum BenefitTriple the first monthly benefit paidTriple the monthly benefit
  • For inability to perform at least 2 ADLs: Triple the monthly benefit
  • For inability to perform at least 3 ADLs: 6 times the monthly benefit
Death Benefit During Claims PeriodTriple the last monthly or rehabilitation benefitTriple the monthly benefit
Benefit PeriodLifetime, ceases upon death or recovery
Dependant BenefitIf the child is 22 ANB and below, 20% of the monthly benefit for a maximum of 36 monthsIf the child is 22 ALB and below, 30% of the monthly benefit for a maximum of 48 months (Policyholder must be unable to perform at least 2 ADLs)If the child is below age 21, 25% of the monthly benefit for a maximum of 36 months
Caregiver Relief Benefit60% of the monthly benefit for a maximum of 12 months
Rehabilitation Benefit50% of the last monthly benefit
Guaranteed Issuance Option Monthly benefit increases by 50% maximum without underwriting upon reaching key life stage events, with the additional premium payable
Paid-Up BenefitsYes

Sample Premium and Benefits

To give you an idea of the premiums payable and the accompanying monthly benefits claimable, a sample illustration for both policy plans are detailed below.

Singlife with Aviva’s MyLongTermCare and MyLongTermCarePlus

 MyLongTermCareMyLongTermCare Plus
Policyholder Age35 ANB
Monthly Benefit$1,000
Premium Terms
  • Escalating premium (by 2% annually)
  • Premium payment term of up to 67 ANB
  • Fixed premium
  • Premium payment term of up to 97 ANB
 Escalating yearly premium (escalates by 2% yearly) Monthly benefit (escalates by 2% yearly) Fixed yearly premium Fixed monthly benefit
At 35 ANB:$814.27$1,000$548.91$1,000
At 36 ANB:$830.56$1,020$548.91$1,000
At 65 ANB:$1,474.64$1,811$548.91$1,000

Great Eastern’s GREAT CareShield

Policyholder Age30 ANB
Monthly Benefit$1,500
Premium Terms
  • Annual premium of $573 (after 20% discount)
  • Fixed premium
  • Premium payment term of up to 95 years old
Inability to perform 1 ADLInability to perform 2 ADLs
Premium WaiverInforce during the disability period
Initial Lump Sum Benefit Entitled $4,500
Monthly Benefit Entitled$750$1,500
Caregiver Benefit$900 monthly for up to 48 months
Dependant Care Benefit$450 monthly for up to 48 months
Total Payout after 1 Year$13,500$20,700

NTUC Income’s Care Secure

Entry AgeSingle, Age 32Married, Age 40
Disability StatusUnable to perform 2 ADLsUnable to perform at least 3 ADLs
Monthly Benefit$1,500$1,800
Premium TermsFixed premium
Premium WaiverInforce during the disability period
Initial Lump Sum Benefit Entitled $4,500$10,800
Dependant Benefit$16,200
Total$270,000 (15-year disability period)$270,000 (10-year disability period)

Best CareShield Life Supplement – Singlife with Aviva’s MyLongTerm Care

Aviva logo

Overall, Singlife with Aviva’s MyLongTermCare would be the most holistic supplement. For the premiums it charges, the benefits are extensive.

Out of the 3 insurers, it offers you the highest maximum monthly benefit payout and gives you the flexibility to be reimbursed in levelled or escalating payouts.

It also provides a death benefit, caregiver relief benefit, and the Guaranteed Issuance Option, which are not offered by some of the other supplements available.

Most Comprehensive CareShield Life Supplement – Singlife with Aviva’s MyLongTerm Care Plus

Aviva logo

Despite being the second most expensive supplement in the market, Singlife with Aviva’s MyLongTermCarePlus delivers the most extensive coverage.

Alongside GREAT CareShield, its maximum monthly benefit payout is the highest ($5,000).

It also provides additional benefits such as the Guaranteed Issuance Option and Rehabilitation Benefit which other supplements do not offer.

Cheapest CareShield Life Supplement – NTUC Income’s Care Secure

ntuc income logo

If you’re looking for the cheapest CaresShield Life supplement, NTUC Income’s Care Secure commands the cheapest premium payable among all the supplements available.

For the premium period of up to age 67, the price of premium is half to two-thirds the price (51%-65%) of GREAT CareShield, which is the most expensive supplement in the market for the premium period of up to age 67.

If you opt for a longer premium period, the price drops even more as seen in the first table above.

So if budget is a concern, the NTUC Income Care Secure is definitely one you should look at.

Best CareShield Life Supplement to Counter Inflation – Singlife with Aviva’s MyLongTermCare or MyLongTermCare Plus

Aviva logo

Both of Singlife with Aviva’s supplements (MyLongTermCare and MyLongTermCarePlus) offer escalating monthly payouts to adjust for market inflation.

They’re the only plans that offer this feature and is something that many of our readers look out for – especially since inflation is going to play a big part in the future!

Please note that as your payouts increase, the premiums payable you are subjected to will increase by the same rate.

Best CareShield Life Supplement for 2 ADLs – Singlife with Aviva’s MyLongTermCarePlus

Aviva logo

Singlife with Aviva’s MyLongTermCarePlus would be your choice supplement for 2 ADL.

The supplement entitles you to the most comprehensive range of benefits, namely the monthly benefit, lump-sum benefit, death benefit, dependent benefit, caregiver relief benefit, rehabilitation benefit, and the Guaranteed Issuance Option.

This comes with more bang for your buck as Great Eastern’s and NTUC Income’s plan does not even offer the same benefits and coverage for similar price points!

Best CareShield Life Supplement for 1 ADLs – GREAT CareShield

great eastern logo

It is easiest to qualify for monthly benefit payouts under GREAT CareShield. You will only need to be unable to perform at least 1 ADL for a successful claim.

This is in contrast with the supplements by Singlife with Aviva’s policies and NTUC Income’s Care Secure, which requires an inability to perform at least 2 to 3 ADLs.

However, the likelihood of only claiming for 1 ADL is low.

There are higher chances of getting a few ADLs together as compared to just 1 ADL.

But if you’d like to play it safe, the GREAT CareShield is the only supplement that provides this, and is the one for you!

Best CareShield Life Supplement for Dependant Benefit – GREAT CareShield

great eastern logo

GREAT CareShield dispenses the most attractive Dependant Benefit.

It covers your child for the longest duration (up to 22 years old) and reimburses the highest percentage of payouts (30%) for the longest duration (48 months) among the available CareShield Life Supplements.

This is in contrast to Singlife with Aviva’s 20% for 36 months and NTUC Income’s 25% for 36 months.

So if you’re worried that you might need the dependant benefit for your child (below 22 years old), the GREAT CareShield provides the most coverage for you.

Disclaimer: Each article written obtained its information from reliable sources and should be purely used for informational purposes only. The information provided by Dollar Bureau and its affiliated parties is not meant to be construed as financial advice. Dollar Bureau shall not be held liable for any inaccuracies, mistakes, omissions, and losses incurred should you act upon any information listed on this website. We recommend readers to seek financial planning advice from qualified financial advisors. 

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