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Great Eastern GREAT CareShield

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Disability Insurance/Great Eastern GREAT CareShield
Disability Insurance/Great Eastern GREAT CareShield
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Plans (2)

GREAT CareShield Advantage

$5,000

MAX MONTHLY BENEFIT

Unable to perform ≥ 2 ADLs

MONTHLY PAYOUT CRITERIA

300% of first monthly benefit

MAX LUMP SUM PAYOUT

Unable to perform ≥ 1 ADL

LUMP SUM PAYOUT CRITERIA

GREAT CareShield Enhanced

$5,000

MAX MONTHLY BENEFIT

Unable to perform ≥ 2 ADLs

MONTHLY PAYOUT CRITERIA

N/A

MAX LUMP SUM PAYOUT

N/A

LUMP SUM PAYOUT CRITERIA

GREAT CareShield Advantage

$5,000

MAX MONTHLY BENEFIT

Unable to perform ≥ 2 ADLs

MONTHLY PAYOUT CRITERIA

300% of first monthly benefit

MAX LUMP SUM PAYOUT

Unable to perform ≥ 1 ADL

LUMP SUM PAYOUT CRITERIA

Details

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Great Eastern GREAT CareShield Review 2021

GE's GREAT CareShield is enhanced protection to help in the event of loss of income or long-term care costs due to disability. It is meant to provide additional coverage on top of your regular CareShield Life.

  • GREAT CareShield provides $300 to S$5,000 lifetime monthly payouts for moderate and severe disabilities
  • For GREAT CareShield Policyholders, get at least 50% of the monthly benefit payable upon inability to perform 2 ADL, and 100% of monthly benefit payable upon inability to perform 3 ADLs.
  • One-time lump-sum payout of up to $5,000 on occurrences of any signs of mild disability.
  • Premiums are eligible for waiver if the policyholder becomes unable to perform at least 1 ADL.
  • Premiums payable in part or full by MediSave
  • ADL = Activities of Daily Living
Read More about Great Eastern GREAT CareShield
Reviews (1)

4.0

1 Reviews

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    Most HelpfulMost RecentLow to HighHigh to Low
      Updated on 19 Nov 2020

      Purchased

      GREAT CareShield Advantage

      This Advantage plan has support for mild disability, with a lump sum payout of 3X the monthly benefit (up to $15,000). Easy to buy direct.

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      Great Eastern GREAT CareShield Insurance Coverage Summary

      Enhanced and Advantage ranges from the cheapest to the most comprehensive

      Benefit Coverage

      GREAT CareShield Enhance

      Great CareShield Advantage

      Selectable Monthly Benefit

      $300 to $5,000 (in multiples of $100)

      $300 to $5,000 (in multiples of $100)

      Initial Benefit

      -

      One lump sum payment worth 3x the monthly benefit upon inability to perform at least one ADL

      Monthly Benefit

      50% of Monthly Benefit payable upon inability to perform 2 ADLs

      100% of Monthly Benefit payable upon inability to perform at least 3 ADLs

      100% of Monthly Benefit payable upon inability to perform at least 2 ADLs

      Premium Waiver

      Premiums are waived upon any inability to perform at least 1 ADL

      Premiums are waived upon any inability to perform at least 1 ADL

      Policy Term

      Lifetime

      Lifetime

      Premium Type

      Level premium based on age last birthday at entry

      Level premium based on age last birthday at entry

      GREAT CareShield Disability Health Insurance Coverage Summary

      What is GREAT CareShield for?

      According to Great Eastern, "GREAT CareShield is a MediSave-approved supplementary plan to your CareShield Life scheme aimed to provide additional long-term care coverage in the event of a disability. Depending on the plan type, it can provide payouts and benefits starting from as early as the inability to perform 1 Activity of Daily Living (ADL)."

      How Does GREAT CareShield Work?

      How GREAT Careshied by Great Eastern works in stages

      Features of GREAT CareShield

      • GREAT CareShield has 2 tiers - Enhanced and Advantage
      • GREAT CareShield Enhanced provides $300 to S$5,000 lifetime monthly payouts for moderate and severe disabilities
      • For GREAT CareShield Enhanced policyholders, get 50% of the monthly benefit payable upon inability to perform 2 ADLs, and 100% of monthly benefit payable upon inability to perform 3 ADL.
      • Whereas GREAT CareShield Advantage policyholders can immediately receive 100% of the monthly benefit payable upon the inability to perform 2 ADL.
      • GREAT CareShield Advantage pays a one-time lump-sum payout of up to $5,000 on occurrences of any signs of mild disability.
      • Advantage plans allows 100% monthly payable benefit upon the inability to perform 2 ADL.
      • Premiums are eligible for waiver if the policyholder becomes unable to perform at least 1 ADL.
      • Premiums payable in part or full by MediSave

      Activities of Daily Living (ADL)

      ADL refers to ‘Activities of Daily Living’ or basic self-care tasks which is a measure of how physically independent a person is. Activity of Daily Living encompasses washing, toileting, dressing, feeding, walking or moving around and transferring.

      GREAT CareShield Premium Price

      How much your premium costs depends on:

      1. Premium Payment Term - whether you choose to pay until you're 65 years old or 80 years old. The shorter premium term at 60 years old will mean higher annual premiums.
      2. Age of policy entry - the later you start your policy, the higher the annual premiums
      3. Gender - Females will need to pay a higher yearly premium than males
      4. How much monthly benefit you want to enjoy when the policy comes into effect - the higher the monthly benefit you'd like to receive upon being disabled, the higher your annual premium.

      Premium Payment Term

      The premiums for GREAT CareShield are payable on an annual basis. Premiums for CareShield do not increase with age.
      Depending on your entry age (at last birthday), the selectable premium terms are as follows:

      • If you are 30 to 55 (age last birthday) when you purchase GREAT CareShield -
        Up to and including the Policy Anniversary when you are 65 or 80 (age last birthday)
      • If you are 56 to 64 (age last birthday) when you purchase GREAT CareShield -
        Up to and including the Policy Anniversary when you are 80 (age last birthday) or 10 Years

      Premium Waiver

      The policy premium will be waived when the insured becomes unable to perform at least 1 ADL.

      Premiums paid with MediSave

      GREAT CareShield premiums can be paid by cash, your own MediSave funds or the MediSave funds of your family members, up to a limit of S$600 per calendar year per insured person.

      Eligibility: Who can apply for Great Eastern GREAT CareShield?

      • Citizenship Status: Singaporeans and Permanent Residents. To be an eligible buyer of GREAT CareShield, you must have the standard CareShield Life or ElderShield 300/ ElderShield 400.
      • Entry Age: 30 to 55 years old, OR 56 to 64 years old. Policy is renewable up to 80 years old.

      Contact Great Eastern

      • For product enquiries: +65 6248 2211
      • Customer Service: 1800 248 2888

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.