Great Eastern GREAT CareShield
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Summary
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- Claimed in November 2020
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 1 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
Popular Products
GREAT CareShield
$5,000
MAX MONTHLY BENEFIT
Unable to perform ≥ 1 ADL
MONTHLY PAYOUT CRITERIA
300% of first monthly benefit
MAX LUMP SUM PAYOUT
Unable to perform ≥ 1 ADL
LUMP SUM PAYOUT CRITERIA
GREAT CareShield
$5,000
MAX MONTHLY BENEFIT
Unable to perform ≥ 1 ADL
MONTHLY PAYOUT CRITERIA
300% of first monthly benefit
MAX LUMP SUM PAYOUT
Unable to perform ≥ 1 ADL
LUMP SUM PAYOUT CRITERIA
4.7
3 Reviews
- Posted 09 Oct 2021
Purchased
GREAT CareShield
[Online Application Process] It was a seamless user journey when signing up via Singpass Myinfo. CareShield Life Supplement is only available for folks ≥ 30 years old. [Insurance Coverage] [Additonal Premium] Medisave covers up to S$600 of the annual premium (after a 20% discount), which means you don't have to top up cash if you're comfortable with recurring monthly payouts of ≤ S$1,500 in the event of disability (≥ 1 ADL).0
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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 |
|---|---|
Selectable Monthly Benefit | $300 to $5,000 |
Initial Benefit | 300% of Monthly Benefit (≥ 1 ADL) |
Monthly Benefit | 100% of Monthly Benefit (≥ 2 ADL) for life or 50% of Monthly Benefit (≥ 1 ADL) for life |
Premium Waiver | Premiums are waived upon any inability to perform at least 1 ADL |
Policy Term | Lifetime |
Premium Type | 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?
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:
- 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.
- Age of policy entry - the later you start your policy, the higher the annual premiums
- Gender - Females will need to pay a higher yearly premium than males
- 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.
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