ElderShield is a long-expression treatment insurance policy scheme created to supply economic assistance to Singaporeans who require aid with day by day functions on account of extreme disabilities or Persistent illnesses. Released with the Ministry of Well being, this program aims to reduce the economic stress connected to extended-time period care.

Key Options of ElderShield
Goal Team

Created for people aged 40 and earlier mentioned.
Available for all Singapore citizens and long-lasting inhabitants.
Protection

Offers money payouts for as many as 72 months (6 yrs) In case you are struggling to carry out no less than a few out of 6 Things to do of Everyday Residing (ADLs).
ADLs include:
Bathing
Dressing
Feeding
Toileting
Mobility (relocating all over)
Continence
Payout Quantities

The month-to-month payout volume may differ depending on once you joined the scheme:
$three hundred every month for those who joined prior to 2002.
$400 each month for many who joined after that date.
Top quality Payments

Premiums might be paid out by Medisave, which happens to be part of the countrywide Health care price savings plan in Singapore.
You will find choices readily available for premium waivers under certain conditions such as incapacity statements.
Eligibility Requirements

Should be a citizen or long term resident of Singapore.
Must have been enrolled in ElderShield right before achieving age 65.
Assert Course of action

For making a declare, policyholders require:
A medical evaluation confirming their lack of ability to perform ADLs.
Important documentation submitted by way of authorized insurers running ElderShield procedures.
Integration with Other Schemes

Can do the job along with other governing administration initiatives like MediSave and CareShield Daily life, supplying extra thorough protection options for aged care demands.
Transitioning from ElderShield to CareShield Life

As Section of ongoing advancements in eldercare companies, there is an option to changeover from ElderShield into CareShield Everyday living, which presents Improved Gains and lifetime coverage from severe disabilities starting from 2020 onwards.
Realistic Case in point
Picture Mr. Tan, a 70-12 months-aged retiree living alone that has formulated mobility issues as a result of arthritis. He struggles with finding dressed and going around his residence independently:

Together with his enrollment in ElderShield previous to turning sixty five, he qualifies for every month payouts because he can not complete 3 ADLs.
Each and every month he gets $400 right more info deposited into his checking account.
This fiscal guidance lets him not simply obtain necessary home-treatment aid but also helps cover costs related to medication or therapy classes without the need of stressing about depleting his retirement personal savings way too speedily.
Conclusion
ElderShield performs A vital position in supporting seniors going through wellness difficulties by providing them with financial help throughout critical periods whenever they might need help most—allowing for them larger independence even though ensuring they get appropriate treatment with no overwhelming money strain on by themselves or their families.