Singlife updates Shield Plan riders to boost healthcare affordability

Product enhancements respond to specific demographic shifts in long-term care.

Singlife has introduced new riders for its Integrated Shield Plans, alongside a Care Collab Benefit, as Singapore moves towards a super-aged society.

The insurer said the updates are aimed at offering a more affordable way for Singaporeans to enhance their healthcare protection, whilst giving access to rehabilitation support.

The new riders are designed to align with the Ministry of Health’s latest requirements. They do not cover deductibles and come with a co-insurance cap of $4,669.5 (S$6,000), allowing for premium reductions of 30% to 84%. 

These options provide more affordable premiums for policyholders seeking treatment at B1 and higher wards in both private and public hospitals.

Singlife’s Care Collab Recovery Support Benefit allows customers to access coordinated care services, supporting them through treatment and recovery. 

This benefit provides $15,564.9 (S$20,000) in coverage for home nursing care and rehabilitation services in the event of severe disability.

Singapore is expected to become a super-aged society, where at least 20% of the population is aged 65 and above, increasing demand for healthcare and long-term care services. 

Singlife said its latest product enhancements are designed to respond to these demographic shifts and provide additional financial protection for policyholders.

($1.00 = S$1.28)

*This article was updated on 7 April, 3:46 PM to reflect a more accurate reporting of the press release.