If there’s anything that could get in the way of me being unstoppable in life, I’d want to do something about it while I still can – whether that's setting up a Lasting Power of Attorney or drawing up a will while I still have the mental capacity to do so. Increasing my knowledge about things that could throw me off course, like severe disability, is also paramount.
You may have watched movies like Breathe (2017) and The Theory of Everything (2014) where the protagonist is disabled or you may have a colleague who looks after a disabled family member, but how far does your knowledge about severe disability really go? In fact, if you’re an “unstoppable” person in your 20s, 30s or 40s – someone young and fit who wants to do everything and be everywhere all at once – should you even bother about severe disability?
Test your knowledge about severe disability and let the results help you decide if it’s worth more of your attention.
How much do you know about severe disability? Take this quiz to find out.
MediShield Life covers long-term care costs.
Correct
Answer: False
MediShield Life is a government insurance plan that helps to pay for large hospital bills, i.e. medical treatment and hospital stays. However, it does not give a cash payout for long-term care needs such as hiring a caregiver, buying feeding equipment or rehabilitation therapy. It’s important to understand the key differences between MediShield Life and CareShield Life.
Incorrect
Answer: False
MediShield Life is a government insurance plan that helps to pay for large hospital bills, i.e. medical treatment and hospital stays. However, it does not give a cash payout for long-term care needs such as hiring a caregiver, buying feeding equipment or rehabilitation therapy. It’s important to understand the key differences between MediShield Life and CareShield Life.
MediSave funds cannot be used to pay for private long-term care insurance.
Correct
Answer: False
You can use MediSave to pay for premiums of CareShield Life supplements from private insurers for yourself or your family members (e.g. spouse, parents, children, siblings or grandchildren) up to a limit of S$600 per year per person.
Incorrect
Answer: False
You can use MediSave to pay for premiums of CareShield Life supplements from private insurers for yourself or your family members (e.g. spouse, parents, children, siblings or grandchildren) up to a limit of S$600 per year per person.
What is the CareShield Life cash payout amount for severe disability?
Correct
Answer: Around S$600 per month
CareShield Life payouts start at S$600 per month in 2020 and will increase by 2% per annum until 2025. After that, the annual increase will be reviewed. The payout amount stays the same once a claim is made, so if you make a claim in 2025, your monthly payout will be S$662 provided you remain severely disabled. CareShield Life supplements from private insurers can increase your monthly benefit by up to S$5,000, on top of your CareShield Life benefit.
Incorrect
Answer: Around S$600 per month
CareShield Life payouts start at S$600 per month in 2020 and will increase by 2% per annum until 2025. After that, the annual increase will be reviewed. The payout amount stays the same once a claim is made, so if you make a claim in 2025, your monthly payout will be S$662 provided you remain severely disabled. CareShield Life supplements from private insurers can increase your monthly benefit by up to S$5,000, on top of your CareShield Life benefit.
Long-term care insurance benefits cannot be used to hire a domestic helper.
Correct
Answer: False
You can use your long-term care insurance benefits any way you choose, such as hiring a caregiver, medication or installing wheelchair ramps at home. Singlife Financial Advisers’ Head of Product, Pang May Yee, adds, “There are CareShield Life supplements from private insurers that provide a separate monthly payout if you have dependants under 21 years, to help you cope with childcare costs. This is on top of your monthly severe disability benefit.
Incorrect
Answer: False
You can use your long-term care insurance benefits any way you choose, such as hiring a caregiver, medication or installing wheelchair ramps at home. Singlife Financial Advisers’ Head of Product, Pang May Yee, adds, “There are CareShield Life supplements from private insurers that provide a separate monthly payout if you have dependants under 21 years, to help you cope with childcare costs. This is on top of your monthly severe disability benefit.
How long does severe disability last on average?
Correct
Answer: 4 years
The duration of long-term care needed is different for every person. According to the Ministry of Health, the median duration that Singaporeans could stay severely disabled is four years.
Incorrect
Answer: 4 years
The duration of long-term care needed is different for every person. According to the Ministry of Health, the median duration that Singaporeans could stay severely disabled is four years.
