CareShield Life premiums are designed to increase regularly to support the regular increase in payouts. The schedule of premium increases is not fixed, and will be regularly reviewed by the
CareShield Life Council to ensure the sustainability of the scheme.
Following CareShield Life 2025 Review, payouts will increase by 4% per year from 2026 to 2030 to help policyholders keep up with rising long-term care costs. To support this, premiums will increase annually, with premium support measures moderating increases from 2026 to 2030 to about $38 on average and no more than $75.
If you are age 59 and above when you join CareShield Life, you will not have to pay premiums after 10 years.
If you are age 58 and below when you join CareShield Life, you will have to pay premiums until you reach age 67 (inclusive of the year you turn age 67). Thereafter, you will no longer need to pay for CareShield Life premiums.
