MyCare
Consider the case of a 42-year-old Mr Lim who has a stroke and is paralysed from neck down. He is certified to have failed more than 3 ADL. With ElderShield, he is able to claim $400 per month for up to 6 years (assuming he’s covered under ElderShield400). With MyCare he is able to enhance his payouts to a bigger amount and for a longer period.
Mr. Lim’s payout is outlined below.
First 72 months |
73rd month onwards for up to a lifetime |
|
|---|---|---|
| From ElderShield400 | S$400 per month | S$0 per month |
| From MyCare | S$600 per month | S$1,000 per month |
| Total | S$1,000 per month | S$1,000 per month |
MyCare Plus
Consider the same person - certified by the doctor to have failed 2 ADL. He is unable to claim under ElderShield. With MyCare Plus, he could make a claim.
First 72 months |
73rd month onwards for up to a lifetime |
|
|---|---|---|
| From ElderShield400 | S$0 per month | S$0 per month |
| From MyCare Plus | S$600 per month | S$1,000 per month |
| Total | S$600 per month | S$1,000 per month |
And, there’s extra cash too
In both cases Mr Lim also receives a 1-time lump sum payout of $1,800 from MyCare or MyCare Plus. If he has at least one child aged 21 years or below at point of claim, he’ll also receive a Dependent Care Benefit of $200/month for up to 36 months.
Above examples are for illustration purposes only. Example assumes Mr Lim is an ElderShield400 policyholder who bought MyCare or MyCare Plus with S$1,000 monthly benefit payable for a lifetime. We are assuming his condition persists for a lifetime.
Sourcing for an insurance quotation can be tedious and time consuming; the claim process can become pro-longed and complicated. We provide one stop services for you to handle these and offer the most competitive quotation.
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