Singlife CareShield Standard & Plus Review

Singlife CareShield Standard & Plus is a CareShield Life supplementary plan that provides additional monthly disability benefits upon making a successful claim.

The 6 Activities of Daily Living (ADL) are:

• Washing; cleaning yourself
• Dressing; putting on and taking off clothes
• Feeding; eating
• Toileting; doing your natural business in the toilet
• Mobility; moving around and
• Transferring; getting off your bed
  
  

Singlife CareShield Standard & Plus product details

• Non-participating policy – Disability Income Insurance
• Additional Disability Income – Get an additional $200 to $5,000 more upon severe disability
  • Singlife CareShield Plus starts paying out upon the disability to perform 2 of 6 ADLs
  • Singlife CareShield Standard starts paying out upon the disability to perform 3 of 6 ADLs
  • You can choose a fixed or increasing payout; premiums will differ
• Premium Waiver Benefit
  • Future premiums are waived when you become unable to perform 1 of 6 ADLs
• Flexible Premium Payment Term
  • You can choose to pay premiums up till age 68 or
  • Pay premiums for 20 years (If you join at age 49 or older)
• MediSave-fundable
  • You can use your MediSave funds to offset premiums up to $600 per year, exceeding premiums will be paid in cash
• Severe Disability Benefit
  • Receive a lump-sum benefit payout of 3x your chosen monthly disability benefit when you become severely disabled
  • Severe Disability means the inability to perform 2 of 6 ADLs for Singlife CareShield Plus and 3 of 6 ADLS for Singlife CareShield Standard
  • Receive additional payout if you have a child under 22 years old
• Death Benefit
  • A lump-sum death benefit of 3X your last monthly benefit will be paid out in the event you pass on during severe disability
• Milestone Benefit
  • You can choose to increase your monthly payouts during milestone events without medical check-ups
    
    

Read also: An Introduction To Disability Income Insurance Policies

Features of Singlife CareShield Standard & Plus at a glance

Cash and Cash Withdrawal Benefits
Cash value: No
Cash withdrawal benefits: No

Health and Insurance Coverage
Death: No (Yes if death occur whilst receiving disability benefit)
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Health and Insurance Coverage Multiplier
Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Optional Add-on Riders
NA

Additional Features and Benefits
Yes.

For further information and details, refer to Singlife website. Alternatively, fill up the form below and let us advise accordingly.

Read Also: No budget for financial planning?

Read also: Guide on Retirement Planning in Singapore

Is Singlife CareShield Standard & Plus suitable for me?