Careshield Life Plan

I just mentioned Eldershield a few days. Now, the Government comes with a new plan called Careshield to replace the existing Eldershield. The entry age will be from 30 to 40. However, the premium for the Careshield Plan is expected to be higher than Eldershield. Please refer to the below websites for more details.

https://www.straitstimes.com/singapore/health/new-mandatory-careshield-life-replaces-eldershield-in-2020-will-offer-wider

https://www.straitstimes.com/singapore/health/good-that-careshield-life-is-inclusive-but-payouts-need-to-be-higher-young

https://www.straitstimes.com/singapore/health/careshield-life-to-replace-eldershield-from-2020-what-you-need-to-know

https://www.straitstimes.com/singapore/people-already-on-eldershield-can-opt-to-join-careshield-life-from-2021

Based on the above websites, it appears that the Government is making the Careshield Plan compulsory for all the eligible Singaporeans from the age of 30 to 40 with effect from 2020.

As for my case, I just opted out of Eldershield recently. It is not compulsory for me to be enrolled in the Careshield given that my decision to opt out of Eldershield Scheme. As it stands, I continue to remain

Author: firewtk

A middle-age Singaporean currently having a minimalist and simple lifestyle. I am not longer in full-time employment with effect from 1 May 2019. I try my very best to write one post per day on this blog. The purpose is to share my prevailing thoughts to interested readers. It is up to the interested readers to decide whether they want to take action in embarking on the FIRE journey. I do not gain anything from this blog and it is solely for sharing hopefully for the benefits of all interested reader. WTK

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