ElderShield Premium: MOH replies

MOH's Reply

Straits Times Online, 14 Sept 2015

Mr Chin Kee Thou asked why he needed to continue to pay for the ElderShield premium for 2015, although his birthday was in Nov 2014 (ST Online, Aug 23).

ElderShield is a severe disability insurance scheme which provides basic financial protection to those who need long term care, especially during old age.

Depending on the plan that the policyholder is under, it provides a monthly cash payout of either $300 per month for up to 60 months, or $400 per month for up to 72 months, to help pay for the care of a severely disabled policyholder.

From 2002, Singapore citizens and Permanent Residents with Medisave account are automatically covered under ElderShield, unless they opted-out. It is offered by three insurers – Aviva, Great Eastern and NTUC Income.

ElderShield premiums are payable on an annual basis until the age of 65 years old.

Mr Chin’s premium schedule had stated that his premiums needed to be paid until the “65th last birthday”. This means that the last ElderShield premium payment will be when the policyholder is 65 years old, as of the policy renewal date.

Hence, in Mr Chin Kee Thou’s case, even though he will turn 66 years old in November 2015, as at his policy renewal date, 30 September 2015, he is still 65 years old.

He would therefore need to make another premium payment upon renewal. Thereafter, he will be covered under ElderShield for the rest of his life, with  no further premium payment required.

Ms Lim Bee Khim
Director, Corporate Communications
Ministry of Health 

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Straits Times Online, 23 Aug 2015

Query on ElderShield Premium

I received a renewal notice from my insurance company for payment of premium for the ElderShield Basic 300 plan for the year 2015, covering the period of insurance from Sept 30 this year to Sept 29 next year.

The enclosed schedule, enfaced with the terms and conditions, read: "Premium payment term: To be paid until 65th last birthday."

I celebrated my 65th birthday in November last year and the premium paid for the year 2014 covered the insured period until Sept 29 this year, 10 months beyond my birthday. Why do I need to pay the premium for the ElderShield Basic 300 plan for the year 2015 when my 65th birthday was in November last year?

Chin Kee Thou