Hi anon,
The GECPP is a programme that provides Long Term Care coverage only for 12 months from your registration date. During these 12 months, should severe disability occur, you will get a payout of $600/mth for up to 60 months (one time claim only). In a sense, this is like an interim stop gap measure to provide you with protection against long term care costs before Careshield Life (CSL) starts in October.
If you are born after 1980 but before 1990 and severely disabled when CSL starts in October, you will need to make a one time premium payment and you will be able to claim the benefit. But prior to that, you would need to claim on GECPP should something happen between now and 1st Oct. I believe you'd be eligible for two levels of payouts in this case, one from GECPP and one from CSL. GECPP will cease after one year if no claims are made, and you get to continue coverage under CSL. GE does not cover the cost of CSL since that is a government administered scheme and the premiums are paid from your Medisave to the common risk pool.
Hi anon,
The GECPP is a programme that provides Long Term Care coverage only for 12 months from your registration date. During these 12 months, should severe disability occur, you will get a payout of $600/mth for up to 60 months (one time claim only). In a sense, this is like an interim stop gap measure to provide you with protection against long term care costs before Careshield Life (CSL) starts in October.
If you are born after 1980 but before 1990 and severely disabled when CSL starts in October, you will need to make a one time premium payment and you will be able to claim the benefit. But prior to that, you would need to claim on GECPP should something happen between now and 1st Oct. I believe you'd be eligible for two levels of payouts in this case, one from GECPP and one from CSL. GECPP will cease after one year if no claims are made, and you get to continue coverage under CSL. GE does not cover the cost of CSL since that is a government administered scheme and the premiums are paid from your Medisave to the common risk pool.