The rate of premium and payout increases for CareShield Life will be reviewed regularly based on actuarial principles, taking into account factors such as changes in claims experience and longevity. This is important to keep the fund sustainable.
The
CareShield Life Council regularly reviews these trends and advises the Government on premium and payout adjustments in accordance with an actuarially sound adjustment framework. Actual future premiums and monthly payouts will vary depending on the regular adjustments.
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. With the premium support measures, annual CareShield Life premium increases* from 2026 to 2030 will be moderated to about $38 on average, and no more than $75.
*Premiums increase per year excludes GST.
