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Pros & Cons of NTUC ElderShield Upgrade – PrimeShield

NTUC ElderShield enhancement (PrimeShield) is an Eldershield supplement issued by NTUC Income. It aims to provide lifetime protection against severe disability by providing a monthly benefit when the insured is unable to perform the minimum number of activities of daily living. The 6 activities of daily living are:
  1. Washing – The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.
  2. Dressing – The ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical or medical appliances.
  3. Feeding – The ability to feed oneself food after it has been prepared and made available.
  4. Toileting – The ability to use lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances if appropriate.
  5. Mobility – The ability to move indoors from room to room on level surfaces.
  6. Transferring – The ability to move from a bed to an upright chair or wheelchair, and vice versa.

NTUC ElderShield – PrimeShield Claim Condition

  • Unable to perform 3 out of 6 activities of daily living

NTUC ElderShield enhancements offer lifetime coverage, and the benefit payout duration is lifetime. There is a 90 deferment period in which the benefit will be paid out 90 days after the disability. The premium can be paid by cash or MediSave (up to $600/year). The insurance premium is waived in the event of a claim.

NTUC ElderShield

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Pros of NTUC ElderShield Enhancement

  1. Limited payment between 20 to 25 years depending on age upon application

Cons of NTUC ElderShield Enhancement

  1. Lower coverage with the same premium compared to other insurer’s insurance plan.
  2. The insured must be unable to perform a minimum 3 (Not 2) activities of daily living for the claim to be approved

To find out more about the Pros & Cons of NTUC ElderShield.

To evaluate if NTUC ElderShield is suitable for your needs.

Fill up the form below for a discussion on ElderShield upgrade

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Besides NTUC ElderShield upgrade, you may also want to read about a similar ElderShield upgrade from Aviva here

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