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ELDERSHIELD INSURANCE
ELDERSHIELD INSURANCE

ELDERSHIELD INSURANCE ALLOWS DISABILITY ASSSITANCE

 

WHAT IS ELDERSHIELD?

     Eldershield is an insurance coverage option that provides residents of Singapore with severe disability insurance. Enrollment is automatic at age 40. Eldershield insurers are Aviva, Great Eastern and Income. Singapore residents have the ability to refuse coverage. Eldershield offers two basic plans of coverage called Eldershield 300 and Eldershield 400. Premiums are paid by Medisave which is a national medical savings account system for Singapore residents. Premiums paid are determined at age of entry which can begin at age 40 up to age 64.

 

ELDERSHIELD 300 and premiums

     Eldershield 300 was offered from September 2002 through August 2007.

Premiums are scaled differently for males and females due to females having a longer life expectancy. Premiums range from age 40 to age 64. Male premiums begin at age 40 around 152.00 and females at 195.00. Male premiums at age 64 are around 1845.00 and for females are 2541.00.

 

ELDERSHIELD 400 AND premiums

     Eldershield 400 coverage started after September 2007. Premiums are also scaled differently for males and females. Premiums range from age 40 to age 64. Male premiums begin at age 40 around 175.00 and females at 218.00. Male premiums at age 64 are around 2381.00 and females 3132.00

 

ELDERSHIELD helps with severe disabilities

What determines a severe disability?

     Severe disabilities are determined by assessing what are called activities of daily living. These are daily activities that determine independence. Three out of six activities of daily living must be determined for need for assistance. The six areas of assessment are the following: eating, bathing, dressing, transferring, toileting and walking or moving around.

 

HOW PREMIUMS ARE PAID

     Premiums are completely paid by Medisave and policy holders can use their own Medisave or the Medisave of their spouse, parents, children, or grandchildren.

You may check Eldershield premium for more.