Basic Eldershield 300 Plan or the ElderShield Lifetime Care 300

The ElderShield scheme went through a reform in 2007 by the Ministry of Health. The ElderShield supplements ( ElderShield Lifetime Care 300) were introduced to cater to the needs of those who wish to obtain higher disability insurance coverage to cushion the impact of increasing healthcare expenses.

In the Basic plan , if one has to pay about $300 plus yearly which gives a monthly payout for up to 60mths.

The ElderShield Lifetime Care 300 , if one has to pay $400 -$600( varies from age difference), also female has to pay more!  With Lifetime you can continue to receive a monthly payout of $300 for life! 

1) Which is a better option, Basic Eldershield 300 Plan or the ElderShield Lifetime Care 300?

2) Is it compulsory for all the S’pore citizen to buy the above?

3) Which would you choose once you hit 55years of age?

4) Why is there such a discrepancy between the male and female premiums?

7 thoughts on “Basic Eldershield 300 Plan or the ElderShield Lifetime Care 300”

  1. Hi Catherine,

    It’s not compulsory to buy Eldershield.
    You can opt out of it.
    CPF have appointed Aviva, Great Eastern, NTUC Income
    as insurers. Check them out for comparison.
    For more info, you can check on CPF website – search
    “eldershield”

    Hope you find answers to your above questions.

  2. Hi Constance!

    Tks for responsing. The trouble is that when it was launched, I was too busy to opt out or overlooked to do it.

    Now that I’d the Basic Eldershield 300 plan, they sent forms for the Eldershield Lifetime Care 300.

    Regards

  3. Hi Tim!

    I was waiting for some serious comments from awak leh!
    How about 2 Tigers for your thoughts?

    Have something nice to say & advice pls Mr PI.

    Cheers!

  4. Haha, Cat-H, it’s entirely your fault to talk abt eldershield. As an elder, why do you need that shield? Or sheath? Ok, you may have planned for 300 but seriously, which elder can take on even one and can still walk a straight line the next morning? Or tThat you are a natural Ho makes a difference ?

    Yes, come drink with me……..a Tiger is ok, guinness stout lagi shiok but nothing beats that aromatic kopi siew dai……..

  6. Cat-H, am off-color, off-formed today so even if a tiger were to climb all over you I still wont laugh. Btw, why do I want to go to amk on 25/9 when i do anythg but dance?

  7. Can someone pls enlighten? I thought I’ve just recd from Great Eastern for Eldershield ValuePlus 400, not 300, so which is which now?

    As Tim said, why do we need that shield but I guess for those who do not have any insurance in the early days (like myself) may be a good alternative to get at least some coverage when the need arises with this scheme?

    It’s probably not worth buying any Insurance scheme at our age now as the premium is very high. Any sound advice on what’s the best Insurance to buy is much appreciated. Lisa

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