CareShield Life Supplements
![]() ![]() Total Monthly Benefit Amount This payout amount includes the payout from basic CareShield Life which starts at $600 per month and will escalate at 2% p.a. for the first 5 years. The escalation rate after that has not been announced.
Aviva's supplement benefits are payable in addition to CareSheid Life's Benefits. This means if you select $1200, Aviva will pay $600 in addition to of CareShield Life's Escalating Monthly Benefit.
Year 1: $600 CareShield Life | $600 Aviva
NTUC Income's supplement benefits are payable inclusive of CareShield Life's Benefits. This means if you select $1200, the total monthly payout will remain at $1200 throughout the lifetime of the policy.
Year 1: $600 CareShield Life | $600 NTUC Income |
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Referral ProgramRefer your friends and family and get DIY$50 for each referral. ![]()
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DIY$ can be exchanged for vouchers including InsureDIY vouchers, NTUC Fairprice and Cold Storage vouchers. Check out our rewards catalogue here.
How to refer:
Only applicable if your friend has not bought any insurance policy or unit trust through InsureDIY before. DIY$ will only be awarded after the free-look period. |
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Key features for CareShield Life SupplementsAviva: MyLongTermCare & MyLongTermCarePlus | NTUC Income: CareSecure![]() Higher lifetime cash payouts from $600 to $5,000 payable per month![]() Option to choose increasing payouts![]() Extra protection with Lump Sum Support, Dependant Care Benefit and Waiver of Premiums![]() Enhance cover with no cash outlay by using your MediSave![]() Online application |
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Do I need a CareShield Life Supplement plan?Did you know that you may already be covered under the basic CareShield Life scheme? All Singaporeans and PRs aged 30 and 40 as at 1 October 2020 were auto-enrolled into the Scheme.
Although the benefits under CareShield Life have improved significantly from the ElderShield scheme, $600 per month escalating at 2% p.a.* may not be sufficient when you are not able to earn an income.
Use your MediSave to get additional cover! NTUC Income and Aviva are now offering plans that can enhance your CareShield Life cover. Additional benefits include:
* 2% p.a. escalation for the first 5 years. The escalation rate after that has not been announced. |
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Case Study - Payout of Monthly Cash Benefit1. Mr A (age 35), doubles his disability income payout from $600 to $1,200 with Aviva's CareShield Life
Supplement plan.He also wants to ensure he can start receiving disability benefits upon 2 ADLs.
2. After considering the various plans, he choses to go for Aviva's MyLongTermCare Plus and pays $480 per year (after 20% discount) using his MediSave (hence $0 cash outlay).
3. These premiums are payable up to age 67 and will give him lifetime disability income cover.
![]() 4. In the event of disability, Mr A can rest easier knowing that at $1,200 can cover the cost of an additional caregiver if he needs to hire a domestic helper.
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What does a CareShield Life Supplement cover include?
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Can MediSave be used to pay for CareShield Life Supplements?Yes! MediSave can be used to pay for CareShield Life Supplements so you do not always have to use cash to enhance your CareShield Life benefits.
Premiums for the CareShield Life Supplements can be paid by cash or from your own MediSave accounts. You can also use your family members' MediSave accounts to pay for your CareShield Life Supplements (i.e. your spouse, parents, children, siblings or grandchildren).
There is however, a limit to the MediSave amount you can use and this is set at a limit of $600 per calendar year per person insured.
Any premiums in excess of this $600 amount will still have to be topped up in cash. |
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How much
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Here are some common questions
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1. Who is covered by CareShield Life now?
As long as you are born 1980 or later (aged 40 or below in 2020), you are automatically enrolled into CareShield Life. Everyone is covered regardless of pre-existing disability or financial ability.
2. What is basic CareShield Life?
CareShield Life is basically a National Long-Term Insurance scheme administered by the government that payouts when you are severely disabled. Monthly payouts start from $600 per month and is targeted to increase 2% p.a. for the first 5 years. You will pay for premiums from age 30 to 67 and premiums starts at $206 for males and $253 (female) at age 30. This is fully payable from Medisave.
3. When does basic CareShield Life pay out?
Basic CareShield Life pay outs when you are severely disabled. Basically, severe disability is defined as the inability to perform 3 out of 6 Activities of Daily Living (ADLs). The 6 ADLs are Washing, Dressing, Feeding, Toileting, Mobility and Transferring.
4. What does a CareShield Life Supplement cover include?
CareShield Life supplement payouts upon the inability to perform 2 out of 6 ADLs. You also have the flexibility to increase the monthly payout up to $5,000 per month, and the payout can be pegged to inflate up to 3% per annum. Other benefits include a one-time lump sum benefits, rehabilitation benefits, caregiver benefits or a dependent care benefits.
5. Can you use Medisave to pay for CareShield Life Supplements?
Yes, you can use up to $600 per calendar year per person insured to pay for the premiums. You can use your family member’s Medisave accounts to pay for your CareShield Life Supplements. The definition of family members in this instance is your spouse, parents, children, siblings or grandchildren.
6. How do I pay for CareShield Life Supplements if my premiums exceed $600?
Premiums for the CareShield Life Supplements can be paid by cash or from your own Medisave accounts.
7. Is there any difference between buying the CareShield Life Supplement Plans through InsureDIY or from other distributors?
InsureDIY is distributing the same supplement plans as Aviva or NTUC Income. We have an easy online application process where you can compare the supplement plans side by side. Also, we service our customers as a team, so you can be rest assured that your policy will be in good hands.
8. I have more questions about CareShield Life. Can I speak with someone?
We would love to hear from you! Please feel free to contact us at:
Email: [email protected]
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InsureDIY is an online financial adviser licensed by Monetary Authority of Singapore and we are an approved adviser by our panel of insurance companies. This advertisement has not been reviewed by the Monetary Authority of Singapore.