I am self-employed, 40 year-old man, married with no kids. We both have Paysecure cover till age 65 and integrated health shield plans with riders. Is my insurance enough? Should my wife and I upgrade our Eldershield?

Whether to upgrade your ElderShield, you need to consider whether you would want
1) to have an easier claim criteria: 2 ADLs instead of 3 ADLs
2) to pay more with money in your Medisave for life
(whether you have sufficient money in your Medisave)
3) Careshield in 2021
You ought to think very carefully as money in Medisave is also your hard earned money.

Hi sir,

Yes you should.

Eldershield is coverage for long term care.

It's supposed to pay for the additional cost of living that may incur due to disability, such as staying in a nursing home, or hiring a private nurse to take care of you at home.

The Medisave limit for the upgrade is $600 per year. If you choose a benefit that costs above that, you'll need to top with cash yearly.

The upgrade can change your payout to a lifetime payout, provide a higher payout per month (up to 5k), with an easier claiming criteria.

I run SG Eldershield Specialist (facebook.com/YourEldershieldSpecialistSG) and you can always contact me and my team there.