Hi, I am 32 years old, keen to get supplement for Careshield life. I read that Aviva mylongtermcare (unable to do 3 out of 6 severe disability) VS mylongtermcarePlus (2 out of 6- similar premium but this has lower payout). Any thoughts? Thanks!?

Hello! You may watch the following video to find out more info before making a decision. 😊

Video Key Findings for Careshield Life Supplement

https://youtu.be/d62u-tG4WrE

Hi anon,

Statistically speaking, precisely 2/6 ADLs is very rare, on the order of single digit percentage. I do not have full stats for every claim in Singapore, but one set of statistics from one insurer for long term care shows that exactly 2/6 ADL claims accounted for 1% of claims in 2018, with majority being 5/6 or 6/6 ADL claims. This figure was 0% for 2019 and 1H2020. Thus, a 3/6 ADL plan, for the same amount of coverage would be cheaper than a 2/6 ADL plan. I personally feel that with such statistics, the chances of 2/6 ADL is really low.

Furthermore, note that if you recover from 3/6 to 2/6 ADL, Mylongtermcare will still pay you half of the monthly benefit (the "rehabilitation benefit") whereas Careshield payout stops. So you still get some form of financial support.

Thus it depends on whether you would want to have the absolute certainity of claim in the event that you are that 1% or 2% that you are diagnosed with exactly 2/6 ADL, or you would just want to maximize the payout.