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Step-by-Step Guide On How To Switch From Eldershield To CareShield Life

Older Singaporeans born in 1979 or earlier (aged 43 or older) can switch to CareShield Life for better and longer coverage for long term care

by
Angela Koo
January 19, 2022

While younger Singaporeans born in 1980 and after are automatically enrolled in CareShield Life or will be when they turn 30, older Singaporeans born in 1979 and earlier have a choice of either continuing with the existing ElderShield scheme or switching to CareShield Life.

ElderShield and CareShield Life are both government long-term care insurance schemes that aim to provide support to Singaporeans, in the event of severe disability. ElderShield provides a monthly payout of up to $400, upon the event of severe disability. However, this payout is only up to 6 years. CareShield Life provides lifelong payouts starting at $624 per month in 2022, upon the event of severe disability.

In essence, CareShield Life was launched in 2020 to provide better and longer long term care coverage for Singaporeans. It gives higher payouts for life and is more inclusive. You can read more about the differences in our article – CareShield Life Vs ElderShield: Understanding The Differences Between These Two Policies

However, these enhanced benefits come at a price: the annual premiums for CareShield Life are higher. To help Singaporeans afford the higher premium costs, the government has implemented premium subsidies. Additionally, to encourage older Singaporeans to switch to CareShield Life, participation incentives are given on top of premium subsidies for those born in 1979 and earlier.

If you are thinking of switching from ElderShield to CareShield Life (or helping your parents do so), here is a step-by-step guide.

Step 1: Login To CareShield Life via your Singpass

Firstly, head to CareShield Life website and click login. You will be prompted to login via Singpass

Step 2: Review Your Current Policy

Once you are logged in, you can see your current coverage. In this case, it is the existing ElderShield 400. You can also see other details such as when is the policy start date, claims benefit and premium payable.

Step 3: Click On Application To Join Careshield Life

Click on “Application to join CareShield Life” on the side bar. This will bring you to e-Service to join CareShield Life.

Step 4: Review Your Particulars

Once, you agreed with the Terms And Conditions, the next page is a verification page showing your name and details. Click Next if the details are correct.

Step 5: Activities of Daily Living (ADL) Declaration

On this page, you will make a self-declaration on your activities of daily living (ADL). As my mother (the applicant) is hale and healthy, we declare “Yes”.

Step 6: Review The Premium Information

Next, we can see the premium payables. If we recall, my mother was paying about $500 for ElderShield. CareShield Life is about 1.5 times more expensive. However, her coverage is also 1.5 more (not including the fact that it is lifelong coverage) which makes it a sensible choice to switch especially since we can afford the premium increase.

We can also click on the dropdown option for “View breakdown of your estimated CareShield Life Premiums” to see more details.

Step 7: Select who would be paying the premiums

We can then select the CareShield Life Premium Payer. This can be the applicant (Self) or a family member. In this case, my mother would be using her own MediSave Account to make the premium payments.

Alternately, you can also select a family member who would be paying the premium. This will require you have the NRIC number of the family member. The family member will also have to acknowledge this payer change by logging in to CareShield Life website and using the Change Premium Payer e-service.