bs-preloader__icon
ru kz en

Singapore authorities accepted obligations on disability insurance and care

As of 2020, a new scheme of compulsory state insurance CareShield Life starts for all residents of the country at the age of 30 to 40, reports ukrstrahovanie.com.ua.
Singapore authorities accepted obligations on disability insurance and care

And the new initiative of the Government of Singapore is aimed at a smooth transition of holders of ElderShield insurance policies to the new scheme.

ElderShield is a severe disability insurance that covers the cost of care and accommodation in nursing homes. Today, this program is one of the additional insurance programs and covers almost 1.3 million policy holders.

According to the Singapore Ministry of Health statement, major insurers such as Aviva, Great Eastern and NTUC Income will be attracted to adapt the ElderShield insurance program, they will transfer about $2.9 billion to the government as obligations related to ElderShield.

“If the actual insurance claims are better than expected, premium discounts will remain for ElderShield policy holders,” the ministry commented.

Source: https://www.ukrstrahovanie.com.ua/news/vlasti-singapura-vzyali-na-sebya-obyazatelstva-po-strahovaniyu-invalidnosti-i-uhodu

Photos: tanyana.com

Share
read also
British citizens underestimating life expectancy are facing retirement poverty
British citizens underestimating life expectancy are facing retirement poverty

The studies show that the British who underestimate the length of their own lives may...

We should put more thoughts on our retirement
We should put more thoughts on our retirement

Representatives of underground economy of the south expressed their attitude to pensi...

SAPF transfers to insurance organizations amounted to KZT 8.8 billion for the 1st HY 2018.
SAPF transfers to insurance organizations amounted to KZT 8.8 billion for the 1st HY 2018.

Total pension payments made from Single Accumulated Pension Fund for the 1st HY 2018 ...

The most interesting materials of the site you have in the mail! Subscribe to the newsletter.

ASK A QUESTION TO THE EXPERT
ASK A QUESTION TO THE EXPERT
Submit your application