ElderShield is a long-time period care insurance coverage plan made to deliver economic aid to Singaporeans who demand guidance with daily pursuits due to extreme disabilities or Long-term illnesses. Launched with the Ministry of Health and fitness, this plan aims to relieve the money stress related to prolonged-expression treatment.

Vital Attributes of ElderShield
Goal Group

Made for people aged forty and earlier mentioned.
Obtainable for all Singapore citizens and long-lasting residents.
Protection

Provides money payouts for up to seventy two months (six a long time) Should you be not able to execute at the least 3 out of 6 Actions of Every day Living (ADLs).
ADLs include:
Bathing
Dressing
Feeding
Toileting
Mobility (shifting about)
Continence
Payout Amounts

The month-to-month payout amount of money varies according to if you joined the plan:
$three hundred each month for individuals who joined ahead of 2002.
$400 a month for people who joined following that day.
High quality Payments

Rates can be paid out by way of Medisave, that's A part of the countrywide Health care cost savings strategy in Singapore.
There are selections readily available for quality waivers beneath particular disorders for example disability statements.
Eligibility Conditions

Must be a citizen or long term resident of Singapore.
Ought to are already enrolled in ElderShield before reaching age sixty five.
Claim Course of action

To create a assert, policyholders want:
A professional medical assessment confirming their incapability to perform ADLs.
Needed documentation submitted as a result of accepted insurers running ElderShield policies.
Integration with Other Strategies

Can get the job done alongside other authorities initiatives like MediSave and CareShield Lifetime, providing much more thorough protection selections for aged care requirements.
Transitioning from ElderShield to CareShield Daily life

As Component of ongoing advancements in eldercare services, There is certainly an option to transition from ElderShield into CareShield Daily life, which presents Increased Gains and life span protection versus severe disabilities starting from 2020 onwards.
Practical Example
Envision Mr. Tan, a 70-yr-old retiree living alone who has developed mobility issues because of arthritis. He struggles with obtaining dressed and moving about his home independently:

Along with his enrollment in ElderShield ahead of turning sixty five, he qualifies for regular monthly payouts considering that he are not able to execute three ADLs.
Each month he gets $400 straight deposited into his bank account.
This economical guidance makes it more info possible for him not just access important property-care aid and also aids cover prices connected with medication or therapy sessions without the need of worrying about depleting his retirement savings far too swiftly.
Summary
ElderShield plays A necessary part in supporting seniors facing wellbeing difficulties by furnishing them with monetary assist throughout significant instances every time they may have help most—making it possible for them greater independence even though making sure they obtain right treatment without having too much to handle economic pressure on them selves or their families.