Great Eastern GREAT CareShield
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This product is managed by Great Eastern.
Summary
GREAT CareShield supplements your CareShield Life's starting monthly payouts of S$600 in 2020 that increase over time. Your supplementary coverage starts early with additional monthly payouts1 and a lump sum Initial Benefit2 upon the inability to perform just one of the six Activities of Daily Living3 (ADLs). In addition, receive extra monthly payouts from our Caregiver Benefit4 and Dependant Care Benefit5 if you are unable to perform two or more ADLs.
What's more, GREAT CareShield can be fully payable using your MediSave funds6 or cash to start your disability coverage with lower premiums whilst you are still young.
Enjoy 20% perpetual discount on your premiums (discount applies throughout your coverage) when you sign up.
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Summary
GREAT CareShield supplements your CareShield Life's starting monthly payouts of S$600 in 2020 that increase over time. Your supplementary coverage starts early with additional monthly payouts1 and a lump sum Initial Benefit2 upon the inability to perform just one of the six Activities of Daily Living3 (ADLs). In addition, receive extra monthly payouts from our Caregiver Benefit4 and Dependant Care Benefit5 if you are unable to perform two or more ADLs.
What's more, GREAT CareShield can be fully payable using your MediSave funds6 or cash to start your disability coverage with lower premiums whilst you are still young.
Enjoy 20% perpetual discount on your premiums (discount applies throughout your coverage) when you sign up.
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Posted 30 Oct 2024
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Posted 06 Aug 2024
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Posted 29 Feb 2024
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Posted 11 Feb 2024
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Posted 11 Sep 2022
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Posted 28 Jul 2022
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Posted 09 Oct 2021
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17 Mar 2021
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Posted 04 Jan 2024
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Posted 01 Aug 2023
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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 |
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)."
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.
How much your premium costs depends on:
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:
The policy premium will be waived when the insured becomes unable to perform at least 1 ADL.
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.
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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