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CareShield Life supplements: An extra hedge against rising long-term care costs

For ‘super-aged’ Singapore, heavy burden of care falls on public health services, families and personal finances

 Genevieve Cua
Published Mon, Sep 1, 2025 · 06:00 AM
    • Supplements for ElderShield/CareShield Life offered by private insurers cover a range of benefits going well beyond the basic schemes.
    • Supplements for ElderShield/CareShield Life offered by private insurers cover a range of benefits going well beyond the basic schemes. PHOTO: BT FILE

    [SINGAPORE] That we could live very long lives to our 90s and beyond is surely a blessing – but it’s also a daunting prospect, at least to me.

    Will I be in good health? If not, would I have the resources to fund possibly many years in a disability that could be crippling?

    Last week, the Ministry of Health (MOH) unveiled an enhancement to Singapore’s national long-term care insurance, CareShield Life. From next year, the scheme’s monthly benefit will grow at a rate of 4 per cent a year, from 2 per cent currently. To cushion the expected premium rises, the government is providing S$570 million in premium support over the next five years.

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