Singlife ElderShield Standard FAQ

To be eligible, you must first be an ElderShield policyholder before adding an ElderShield supplement. Your initial ElderShield plan can be with any insurer.
 

As with your regular ElderShield coverage, premiums are determined at the age of entry. Since these premiums do not increase with age, you can enjoy higher Singlife ElderShield Standard benefits at a lower premium.

Singlife ElderShield Standard provides a monthly severe disability payout. Other benefits include:

• Lump sum benefit
  It is payable when the Life Assured is certified as severely disabled and unable to perform at least 3 of the 6 Activities of Daily Living and after 90-day deferment period is completed. This additional benefit is equal to 3 times the first monthly payout amount and is paid only once in the policy lifetime with the regular benefit payout.
   

• Rehabilitation benefit
  It is payable when the Life Assured recovers from a severe disability but is still unable to perform 3 of the 6 Activities of Daily Living. This benefit is 50% of the last paid monthly Severe Disability Benefit.
   

• Dependant care benefit
  It is payable when the Life Assured is receiving a severe disability or rehabilitation benefit and has a child under the age of 21. Upon completing the 90-day deferment period, this additional benefit of $200 per month payable for up to 36 months begins.
   

• Death benefit
  It is payable in the event of the death of the Life Assured when the Life Assured is still receiving a severe disability or rehabilitation benefit. This benefit amount to 3 times the last paid monthly severe disability or rehabilitation benefit.

All benefits are payable in cash and is tax-free.

This is applicable to both limited premium payment term and lifetime premium term policies.
 

You can use your CPF Medisave to pay for the premiums of Singlife ElderShield Standard, with a yearly (calendar year) limit of $600 per insured person.

You can also use a CPF Medisave account belonging to your spouse, parents, children, or grandchildren to pay for the premiums of Singlife ElderShield Standard.

Alternatively, you can make the premium payments for Singlife ElderShield Standard via GIRO or Credit Card. Please note that any premiums in excess of $600 yearly limit for Medisave must be paid by GIRO or Credit Card.
 

You can determine the length of your premium payment term to be either: up to age 66 next birthday, (or for 20 years from entry age, whichever is later) or lifetime premium payment.

To make a claim, complete the Claim Form and have your condition assessed by an Appointed Assessor. They will complete the Assessor's Statement and return it (along with your Claim Form) to your basic ElderShield insurer for processing.

Your basic ElderShield insurer will provide us the Claim Form, Assessor's Statement, and any other documents that are relevant to your claim. Alternatively, you can also inform Singlife regarding your claim, and we will assist you with processing the necessary.

You may receive your insurance payout either by cheque or direct credit into your bank account 90 days after the claim date and having been certified by an Appointed Assessor as severely disabled.

You only need to complete the Claim Form once, since the form and panel of Appointed Assessors are identical for both your basic ElderShield and Singlife ElderShield Standard Supplement.