So this came in my mail two weeks ago…

What exactly is CareShield Life?

It may sound like a type of nut, but it is our improved national long-term care insurance scheme that replaces the old version – ElderShield.

So why do we need long-term care insurance?

A study has found that Singaporeans are spending a bigger part of our lives in poor health compared to 30 years ago.

According to the Health Promotion Board, 1 in 4 Singaporeans aged 40 years and above has at least 1 chronic disease.

Families have generally become smaller too. This leads to a declining old-age support ratio – the number of working children to provide care for every elderly.

And depending on circumstances, long-term care could cost between $1,000 to $4,000 per month, for services such as home care, day care and nursing home.

This is where long-term care insurance comes in to alleviate the financial burden.

Author: Wei Lian

I hope that you will find this site useful and informative. Have a nice read!

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