How much do I need to pay for my CareShield Life premium?

CareShield premiums start from $206 for men and $253 for women. The premiums will vary depending on your age, gender, You may use the online CareShield Life Premium Checker to estimate your annual net premium payable.

Can I cancel my CareShield Life?

No. Once you’re enrolled in the CareShield Life scheme, you will not be able to opt out.

A Quick Guide To CareShield Life 2025

Q: Is the CareShield Life scheme compulsory?

Yes and no. It is compulsory for those who are born in 1980 and later as these Singapore Citizens and/or PRs are automatically covered with CareShield Life once they turn 30 years old. However, if you’re born before 1980, it is optional for you as there is no age limit to apply for it.

Q: Do CareShield Life premiums increase with age?

Yes. For example, if you’re a 30-year-old female who is married, employed and working full-time for over 7 years, without any severe health or medical conditions or disability, your annual net premium payable will be about $214, with premiums rising every year, about 2% every year until you turn 67 years old.

What Is CareShield Life About?

You’ve probably heard of the ElderShield scheme which was in place prior to the introduction of CareShield Life in 2020. CareShield Life was launched to replace the ElderShield scheme and made compulsory for most Singaporeans and PRs since then.

Coverage

For Singaporeans and PRs, a maximum coverage amount of about $7,488 per year is provided (as the monthly payout is up to an estimated $624 in 2022, taking into account a yearly 2% increase), and you’ll be able to use your MediSave to pay for your monthly premiums and even for your family members.

Mandatory upon enrolment

Those who are born in 1980 and later are automatically covered with CareShield Life once they turn 30 years old, which makes it compulsory because you will not be able to opt out. However, if you’re born before 1980, it is optional for you as there is no age limit to apply for it. Older folks who are born between 1970 and 1979 will be insured by the ElderShield.

Inability to perform certain ADLs

You or your family member will only be able to receive the monthly payout if either of you get “severely disabled”. By CareShield Life’s definition, being considered “severely disabled” is the inability to perform at least 3 out of 6 Activities of Daily Living (ADLs) which include:

Feeding – Feeding yourself readily available food
Toileting – Going to the toilet to relieve yourself with the use of protective undergarments or surgical appliances (whenever needed)
Washing – Taking a shower or bath independently (includes getting in and out)
Dressing – Putting on and removing clothes, braces or other medical appliances
Walking – Getting indoors from room to room on level surfaces
Transferring – Transiting from a bed to a chair or wheelchair and vice versa

How Much Do CareShield Life Premiums Cost?

CareShield Life premiums start from $206 for men and $253 for women and you can expect your premium to increase by 2% every year until you turn 67 years old. Given that you can pay for your premiums using MediSave, it makes it pretty affordable.

The premiums will vary depending on your age and gender. If there are changes in your financial circumstances in the future, the Government subsidies you’ll be entitled to will change too.

Let’s use an example to illustrate. Assuming you’re a 30-year-old female who is married, employed and working full-time for over 7 years, without any severe health or medical conditions or disability. Your annual net premium payable will be about $214 (according to the CareShield Life Premium Checker which you can use with your SingPass log-in).

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Your estimated premium payable for the next few years will be as follows

Age	CareShield annual premium before government subsidies	CareShield net premium payable
30	$264	$214
31	$272	$232
32	$281	$251
33	N.A.	$286

Are CareShield Life Payouts Sufficient?

Payouts

In the event that you become severely disabled and unable to do any of the ADLs as mentioned above, you are eligible for the monthly payouts which will increase year by year (refer to the table below). Your CareShield Life payout amounts will be fixed and will no longer increase once you’ve made a claim or reached the age of 67

Do take note that an adjustment of CareShield Life payouts will be done after a government review in 2026, so your CareShield Life payouts may differ from the current estimations.

Year - CareShield Monthly Payout

2022 - $624
2023 - $637
2024 - $649
2025 - $662

Upgraded options/Supplements

You may opt for a higher payout if the default CareShield Life scheme with the current monthly payouts of $624 is insufficient.

You may opt to enhance your CareShield Life by purchasing a CareShield Life Supplement from the following insurer: Great Eastern, Singlife or Income Insurance (formerly known as NTUC Income). They offer a wider range of benefits which include:

More lenient qualification (ie. < 3 ADLs) to receive the monthly payouts
Ability to increase your monthly payouts to better suit your preference/needs, inflation situations (for some plans)

Comparison of CareShield Life Supplements

At the moment, there are only a couple of private insurers (Great Eastern, Singlife or Income Insurance) who offer CareShield Life Supplements, which makes it easier for you to do a comparison to arrive at a decision. The premiums and payouts will differ according to various factors like gender and age. We’ll use a simple example in this comparison to illustrate the estimated premiums and payouts, pointing out the relevant advantages and disadvantages that each insurer's Supplement scheme brings.

From this table, we see that Income Care Secure is more wallet-friendly, while Great Eastern’s CareShield Advantage and Singlife’s Careshield Plus may cost a little bit more, it provides a more comprehensive coverage and flexibility.

*The below annual premiums and estimated payouts quoted are based on a 35-year-old female or male example, as per the data provided by Great Eastern, Income Insurance and Singlife on 3 January 2024.

Income Insurance Care Secure vs Singlife CareShield vs Great Eastern GREAT CareShield

CareShield Life Supplement	Summary of benefits	Estimated premium*	Estimated payout
Income Insurance Care Secure	Guaranteed payout of $1,200 to $5,000 (For at least 2 ADLs) Rehabilitation benefit – Up to 600% of the disability benefit Dependent benefit – 25% of your disability benefit for up to 36 months Death benefit – 300% of the disability benefit if death occurs to you while receiving disability benefits	$483.50	$1,200 a month, on top of CareShield Life payouts
Singlife CareShield Standard or Plus	Guaranteed payout of $200 to $5,000 (depending on choice of Standard or Plus plan) Lump sum benefit – Up to 10 times your first monthly benefit when you become severely disabled (depending on choice of Standard or Plus plan) Rehabilitation benefit – 20% of your last monthly benefit for up to 36 months while receiving the monthly payout or rehabilitation benefit Caregiver relief benefit – Up to 60% of your monthly benefit for up to 12 months Dependent benefit – Up to 40% of monthly benefit for up to 36 months depending on choice of Standard or Plus plan) Death benefit – 3 times of last paid monthly benefit or rehabilitation benefit	$135.78 - $202.17	$1,000 a month, on top of CareShield Life payouts
Great Eastern GREAT CareShield (GCS)	Monthly payouts of up to $5,000 upon inability to perform ≥ 2 Activities of Daily Living (ADLs) Lump sum payout* of up to $15,000 upon inability to perform any ADL Premium waivers available upon inability to perform ADL Additional 60% Caregiver Monthly Benefit upon inability to perform ≥ 2 ADLs, for up to 12 months per policy term (regardless of consecutive or not) Additional 30% Dependant Care^ Monthly Benefit upon inability to perform ≥ 2 ADLs, for up to 48 months per policy term (regardless of consecutive or not) ================================================================================= Note: All benefits are subject to Deferment Period. Monthly payouts and premium waivers are payable as long as the Life Assured suffers from the applicable number of disabilities, up to a lifetime. *Initial Lump Sum Benefit payout is equivalent to 3x the monthly benefit. This initial benefit may be paid again for future episodes of inability to perform ≥ 1 ADL, unless the new disability is caused by or related to a previously claimed condition. ^Dependant Care Benefit applies if Life Assured as a child < 22 years old (age last birthday) as of claim date.	$695.86	$1,500 a month, on top of CareShield Life payouts
	T&Cs apply. Protected up to specified limits by SDIC. Above information is for general purposes and not meant to supplement as professional financial advice.

Frequently Asked Questions

Is the CareShield Life scheme compulsory?: Yes and no. It is compulsory for those who are born in 1980 and later as these Singapore Citizens and/or PRs are automatically covered with CareShield Life once they turn 30 years old. However, if you’re born before 1980, it is optional for you as there is no age limit to apply for it.
How much do I need to pay for my CareShield Life premium?: CareShield premiums start from $206 for men and $253 for women. The premiums will vary depending on your age, gender, You may use the online
Do CareShield Life premiums increase with age?: Yes. For example, if you’re a 30-year-old female who is married, employed and working full-time for over 7 years, without any severe health or medical conditions or disability, your annual net premium payable will be about $214, with premiums rising every year, about 2% every year until you turn 67 years old.
Can I cancel my CareShield Life?: No. Once you’re enrolled in the CareShield Life scheme, you will not be able to opt out.

About CareShield Life in Singapore (2025)