Hedging the cost of long-term care
Worried about long-term care costs? Singlife's Helen Shen explains why many Singaporeans underestimate the financial impact and common misconceptions.
Long-term care feels like a problem for “later” until it isn’t. An accident, a chronic illness, or simply living long enough can turn it into a family’s single biggest financial burden. And most Singaporeans underestimate what it really costs by thousands each month.
In the latest WealthBT, a podcast by BT Correspondents, host Genevieve Cua dives into what long-term care really means, how much it can drain, and how to prepare for it. Joining her is Helen Shen, group head of products at Singlife, who shares insights from the insurer’s multi-year Long-Term Care White Paper.
Why listen
- The $3,000 reality check: Caregivers report monthly costs three times higher than what most Singaporeans expect and rising 4 per cent every year.
- Not just for the elderly: Claims data shows even 30-somethings can need long-term care after accidents or chronic conditions.
- Plan for the caregiver, not just the patient: From therapy to transport, the hidden costs of caregiving can quietly drain family finances.
- Bridge the protection gap: Understand how CareShield Life and private supplements can work together to fund care without sinking your savings.
Long-term care insurance isn’t glamorous, but it’s the kind of planning that protects both you and those who’ll one day care for you. If you’ve ever thought “it won’t happen to me,” this episode might just change your mind. Listen now.
WealthBT is a podcast of BT Correspondents. Look out for the next episode featuring correspondent Derryn Wong. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@sph.com.sg.
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Written and hosted by: Genevieve Cua (gen@sph.com.sg)
With Helen Shen, group head of products, Singlife
Edited by: Howie Lim & Claressa Monteiro
Produced by: Genevieve Cua, Howie Lim & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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BT Correspondents brings together some of The Business Times’ most trusted columnists in a single series. Featuring Mark to Market, WealthBT, TransportBT, and PropertyBT, weekly episodes deliver expert analysis and clear perspectives on stocks, wealth, mobility, and real estate. It is essential listening for professionals who want context, clarity, and depth.
