Is the base premium for careshield fixed? i read that gov can increase the premium. for supplement plan, is it possible that insurer can increase the premium eveb though they say it fixed now.

Hi anon,

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Annual Careshield Life premiums will increase of time until age 67 or upon a claim, alongside regular increase in payouts.

Premiums and payouts will be reviewed regularly to account for claims experience and changes in disability and longevity trends.

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For supplements, the premiums are level (doesn't increase with age) but non-guaranteed (insurer may increase it).

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Then again, CI premiums are also level and non-guaranteed, but in this age, we haven't seen any insurer increase their premiums on existing products. They instead withdraw the product, and re-price it via a new offering.

Premium needs to be adjusted in case future claim experience differs, in order for the policy is be viable, for the interest of the insured. The premium has been stated to be non guararnteed. Even though it does not increase with age, it does not mean it cannot increase.