CPFB | CareShield Life

Healthcare financing

Protect yourself against long-term care costs with CareShield Life

CareShield Life is a long-term care insurance scheme. It offers financial support and monthly cash payouts, should you develop severe disability.

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Lifetime monthly CareShield Life cash payouts as long as you remain severely disabled

About

Overview of CareShield Life

Why you need CareShield Life

By age 65, one in two healthy Singaporeans could develop severe disability in their lifetime, and may need long-term care due to:

A sudden disabling event (e.g. stroke)
Worsening of chronic conditions and diseases (e.g. diabetes), or progression of age-related illnesses (e.g. dementia)

How CareShield Life works

It’s important to plan early for our future long-term care needs, but it’s difficult as the costs of long-term care is uncertain.

CareShield Life pools our risks together and ensures protection against potentially catastrophic long-term care costs, providing peace of mind.

Eligibility

Who’s covered under CareShield Life

All Singapore Citizens and Permanent Residents are eligible to join, but when you can join depends on the year you were born.

Born in 1980 or after

Automatically covered once you turn 30

You’re automatically covered once you turn 30, or from 1 October 2020, whichever is later, regardless of any pre-existing medical conditions and/or disability.

Born in 1979 or earlier

Optional participation

Your participation in CareShield Life is optional^.

If you were born between 1970 and 1979, insured under ElderShield 400, and have not developed severe disability, you had been automatically enrolled into CareShield Life from 1 December 2021. No action is required if you wish to join CareShield Life.

If you were not automatically enrolled and wish to join CareShield Life, you may access the Application to join CareShield Life e-Service with your Singpass and enjoy a 60-day free-look period.

Apply for CareShield Life

^ Except foreigners who become Singapore Citizens or Permanent Residents from 1 October 2020 onwards, for whom participation is mandatory unless they have severe disability.

Benefits

Caring for you, for life

CareShield Life benefits provide you with protection and assurance for life should you develop severe disability.

Lifetime coverage

Continue to be covered for life once you’ve completed paying all your premiums at age 67 (or 10 years after you join, whichever is later).

Lifetime cash payouts

Monthly payouts continue as long as you’re unable to do 3 or more activities of daily living (ADL).

Cash payouts provide you flexibility to decide on your desired care arrangement.

Monthly payout is $649 in 2024 and increases over time

Payouts increase annually until age 67 or when a successful claim is made, whichever is earlier. Following a successful new claim, payouts remain fixed for the duration of your severe disability.

Subsidies

You may be able to tap on Government subsidies, depending on your financial circumstances. You won’t lose coverage if you can’t pay.

Fully payable with MediSave

You can use your MediSave to pay your CareShield Life premiums. Family members can help you by paying from their own MediSave, or topping up your account with cash.

Worldwide coverage

You'll remain covered, be able to make a claim, and receive payouts no matter where you live in the world.

Premiums

Pay during your working years and enjoy coverage for life

CareShield Life premiums are risk-pooled to cover your generation's current and future claims. The Government also offers subsidies and support to keep premiums affordable. No one will lose coverage due to inability to afford their premiums.

Learn more

Means-tested Premium Subsidies

Up to 30% subsidies for those in lower and middle income households.

Transitional Subsidies

Singapore Citizens, born in 1980 or later, can receive up to $250 spread over 2020 to 2025 to help reduce annual payments.

Participation Incentives

Singapore Citizens, born in 1979 or before, who join and are covered under CareShield Life by 31 December 2024, can receive up to $3,000 over 10 years to help reduce annual payments.

Additional Premium Support (APS)

If you can't afford your CareShield Life premiums after premium subsidies and family support, you may be eligible for APS.

Calculate your premium and subsidies

Find out about your CareShield Life premiums and applicable subsidies.

Check your premium

Claims

When are you eligible to claim

You can apply to receive CareShield Life payouts, if you’re assessed by a Ministry of Health (MOH)-accredited assessor to be unable to carry out three of the six activities of daily living listed below.

Washing

The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.

Dressing

The ability to put on, take off, secure, and unfasten all garments and, as appropriate, any braces, artificial limbs, or other surgical or medical appliances.

Feeding

The ability to feed oneself food after it has been prepared and made available.

Toileting

The ability to use the toilet or manage bowel and bladder function through the use of protective undergarments, such as diapers or surgical appliances, if appropriate.

Mobility

The ability to move indoors from room to room on level surfaces.

Transferring

The ability to move from a bed to an upright chair or wheelchair, and vice versa.