Asked by Anonymous

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?

We both have paysecure cover till age 65. Any withdrawal limit fm cpf medisave? Thinking if we should upgrade our eldershield and cancel paysecure? Both insure with SAF mindef term, PA n living care. My PA is AIA cashback protector with $3000 medical reimbursement while wife is under Aviva PA plan with medical reimbursment $3000.

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  • Jason Sin
    Jason Sin
    Level 5. Genius
    Answered on 29 Nov 2018

    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.

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  • Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Apr)

    Level 7. Grand Master
    Answered on 14 Sep 2018

    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 ( and you can always contact me and my team there.

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