CareShield Life: Cover for Long-Term Care

Hospital cover pays to make you better. Long-term-care cover pays for the years when you cannot get better. (A different risk.)

Most people picture health insurance as hospital cover. But the costliest health event is often not a single stay — it is needing daily help for years because of severe disability. That is a different risk, and CareShield Life is built for it.

CareShield Life pays a monthly cash sum for as long as you are severely disabled, defined as being unable to perform at least three of six basic activities of daily living — such as washing, dressing or feeding yourself. The assessment is made by a Ministry of Health-accredited assessor.

As at June 2026, the starting payout is S$689 a month, and it is set to grow by 4% each year. The money is paid in cash, to spend on care however suits you — a helper, a daycare place, or family who step back from work to provide care.

If you were born in 1980 or later, you are enrolled automatically from age 30 and cannot opt out; premiums are payable from MediSave until age 67. Those born earlier could choose to join.

The base payout is modest against the real cost of full-time care, so many households add a supplement for a higher monthly sum. Whether you need one depends on what other savings and family support you could draw on.

Illustrative example: the payout grows over time

The chart sets the base CareShield Life payout against an illustrative monthly cost of full-time care. The base covers part of it and leaves a gap of roughly S$1,800 a month; an optional supplement narrows that gap. The base payout also grows 4% a year, so starting early matters — but the gap is why many households top up.