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Launched by the Ministry of Health in 2002, ElderShield offers basic protection should an accident or illness leave you too severely disabled to manage your own everyday care. The scheme pays a monthly cash benefit of up to $400 for a maximum of 72 months to cover the costs of care and recovery either at home or in hospital.
Aviva is the third insurer to be appointed to the scheme, providing coverage to at least 50% of new ElderShield members. ElderShield classifies a person as severely disabled when they are consistently unable to perform at least three out of six of the following tasks, even with special equipment or constant assistance.
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Washing
The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means. |
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Dressing
The ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical or medical appliances. |
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Feeding
The ability to feed oneself food after it has been prepared and made available. |
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Toileting
The ability to use the lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances if appropriate. |
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Mobility
The ability to move indoors from room to room on level surfaces. |
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Transferring
The ability to move from a bed to an upright chair or wheelchair, and vice versa. |
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Who can join?
Whether a Singaporean or PR, any CPF member with a Medisave account is automatically covered by ElderShield from the age of 40 with no medical assessment required. Eligible residents below the age of 65 or those who have previously declined the coverage can make a new application at any time. Individuals with pre-existing conditions may also apply for ElderShield coverage, with approval subject to underwriting and other restrictions.
Top up your ElderShield with MyCare
A severe disability can strike anyone at any age. It is estimated that among the elderly, 1 in 12^ will eventually need constant specialised care due to a severely disabling accident or illness. The impact on you and your loved ones can be traumatic, especially as daily care costs continue to rise. If you were disabled tomorrow and unable to work, how would you survive? With the cost of in-home and institutional care on the rise, even a brief disability can become very expensive. Products like Aviva’s MyCare, which supplements basic ElderShield coverage, can help to cover some of these costs, offering long-term security and peace of mind for you and your family. |
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| ^ Source: 1999 Inter-ministerial committee on Health Care to the elderly. |
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Important Notes
The policy is underwritten by Aviva Ltd.
This is published for general information only and does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person. A product summary in relation to MyCare is available and may be obtained from Aviva Ltd and the participating distributors’ offices. You should read the product summary before deciding whether to purchase the policy.
You may wish to seek advice from a financial adviser before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you. Buying a life insurance policy is a long-term commitment and an early termination of the policy usually involves high costs. This is not a contract of insurance. Full details of the standard terms and conditions of this plan can be found in the relevant policy contract. Information is correct at time of publishing. |
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