Eldershield vs careshield vs Pte insurance

[Ysc3]

On 9/10/2020 at 9:12 AM, Mustank said:

How to euthanasia?

if can, I also want to consider 

I roughly know how lah. But not easy to find someone willing to do for me

You neber ask the "moderator" here? 

[Ysc3]

On 9/9/2020 at 5:40 PM, Mustank said:

I tiagong it is not easy to fail the 6 daily activities of living (therefore can claim)

I found this:

https://www.cfps.org.sg/publications/the-singapore-family-physician/article/221_pdf

The last time I spoke to Aviva? I was told that govt eldershield need you to cannot do six daily things.... But pte eldershield only need you to cannot do 3 things. 

I think mine is default with ntuc income.... Can't remember what it is for already... I think dementia starting to kick in liow.... 

Anyway I am also very interested in this thread... Coz my aia hospital plan(panel) went up again from 700 to almost 1k.(just last year I drop from the non-panel plan of $1.6k to the $700 panel plan) 

If the new care shield can do about the same,  I might give up the pte cover. 

[Dp26]

Careshield premiums will increase with time with escalating benefits but eldershield(Pte insurance part) premiums/benefits are level at entry age till end... 

[Apple-Tree]

On 9/9/2020 at 6:34 PM, Lala81 said:

It's definitely not easy. By the time u can claim it, u won't have the physical or mental capability to surf mcf...

But the most impt for careshield. It's life long.

Even if u are badly disabled, u can easily go on for another 10-20 years if your health isn't too bad. 

In fact for eldershield if it still continued on I wouldn't have paid for it cos it's only payout for 3 years Iirc. I told my parents that small amount of money doesn't matter much to them. And it's something me or my sis can easily fork out. 

Hi, is it POSSIBLE to OPT OUT all of these ?

I was told, I am actually OVER INSURED wor ........ How did I got OVER INSURED wor .....

[Lala81]

9 hours ago, Apple-Tree said:

Hi, is it POSSIBLE to OPT OUT all of these ?

I was told, I am actually OVER INSURED wor ........ How did I got OVER INSURED wor .....

Think the new one is universal. Have to check with cpf board. 

[Dp26]

21 hours ago, Apple-Tree said:

Hi, is it POSSIBLE to OPT OUT all of these ?

I was told, I am actually OVER INSURED wor ........ How did I got OVER INSURED wor .....

Overinsured usually means very little liabilities and dependents. No need to worry. 
 

In MCF normally is just lots of money no need insure.... self insured. 

[Apple-Tree]

2 hours ago, Dp26 said:

Overinsured usually means very little liabilities and dependents. No need to worry. 
 

In MCF normally is just lots of money no need insure.... self insured. 

All these years never did claim anything at all lor .........

[Dp26]

4 hours ago, Apple-Tree said:

All these years never did claim anything at all lor .........

I wish it stays this way for u!! 
for everyone!! 

[Mustank]

On 10/7/2020 at 2:13 AM, Dp26 said:

I wish it stays this way for u!! 
for everyone!! 

This type of money no body wants 😅

[Wildfaye29]

so is it better to switch to careshieldlife from eldershield?

[Alfc]

12 hours ago, Mustank said:

This type of money no body wants 😅

Yeah, but this is the exact psychological aspect of both insurance and lottery that is used to induce consumption so successfully.

One is buy security （买保障）, the other is buy hope（买希望）. All the actuarial calculations are done to determine the real winner (guess who?). Any time just adjust the premium or bets to keep the odds moving in favor of the banker.  Ever heard of the banker lose money to payout until bankrupt?

[Mustank]

11 hours ago, Wildfaye29 said:

so is it better to switch to careshieldlife from eldershield?

I think can do 

only reason is not to burden the next generation 

[Dp26]

Basic insurance is always not to let ourselves be a burden. 
disability income is a great start, though I think we can be a bit more forgiving in the terms of payout... 

hope our insurance market will have more competitiveness on this part and churn out better coverage.  

[Gab84]

Please correct me if i've mentioned inaccurate items.

I think Eldershield is only active when an individual turns 40 years old and payout is about S$400/month for 6 years after being certified severely disabled (defined as not being able to perform 3 out of 6 ADLs)

For Careshield, it will be active from age 30 onwards. The payout is dependent on the premium paid which will stop at age 67. However Careshield provides lifetime coverage as long as one remained severely disabled. 

Private insurances do provide complementary policies such as instead of 3 ADLs to "qualify" for claims, one may be eligible for claims after certified with 2 ADLs and premiums are paid via Medisave as well. 

Activities of Daily Living (ADLs) are categorized as image attached. 

[Angcheek]

On 10/6/2020 at 10:09 PM, Apple-Tree said:

All these years never did claim anything at all lor .........

Those whatever shield from cpf shld take . 

Pte one shld cut . You bought $10M life policy? 😄 can i donate my name in ur will pls   

[Angcheek]

On 10/5/2020 at 11:33 AM, Ysc3 said:

The last time I spoke to Aviva? I was told that govt eldershield need you to cannot do six daily things.... But pte eldershield only need you to cannot do 3 things. 

I think mine is default with ntuc income.... Can't remember what it is for already... I think dementia starting to kick in liow.... 

Anyway I am also very interested in this thread... Coz my aia hospital plan(panel) went up again from 700 to almost 1k.(just last year I drop from the non-panel plan of $1.6k to the $700 panel plan) 

If the new care shield can do about the same,  I might give up the pte cover. 

The cheapest way is to get the shield and add on riders . 

Whether u can do 3 or 6 of the Daily activities... depends on your ah hem skill . E.g. in most cases of stroke ... easily all 6 tasks got problem 

[Ysc3]

2 hours ago, Angcheek said:

The cheapest way is to get the shield and add on riders . 

Whether u can do 3 or 6 of the Daily activities... depends on your ah hem skill . E.g. in most cases of stroke ... easily all 6 tasks got problem 

This is eldershield.... I buy because I have to. 

But I am thinking of the hospital shield plans instead....  Coz mine keep going up and wondering if the govt one is more economical or not.  

[Mustank]

57 minutes ago, Ysc3 said:

This is eldershield.... I buy because I have to. 

But I am thinking of the hospital shield plans instead....  Coz mine keep going up and wondering if the govt one is more economical or not.  

Just downgrade to govt hospital one lah

long ago I already expected runaway costs with Pte hospital plans. Refused to participate 

last time before the influx of ft, my agent told me one pinoy came to sg bought the plan, then shortly after admitted for tongue or throat cancer, claim donno how much 100 of k. I hear already shock. Refuse to join. Die die join govt hospital one

she ask me why. Just $100-200 more per year mah. I said mlmlwml. I trust in govt hospital