As Singapore’s population ages, it is inevitable that more people may be afflicted with severe disabilities, as the risk of disability rises with age. An estimated three in 10 Singaporeans could remain in severe disability for 10 years or more, possibly resulting in higher long-term care costs due to prolonged disability, and thus increasing the financial burden on themselves and their caregivers. Singapore has been preparing for this, having introduced basic long-term care insurance scheme ElderShield in 2002. The scheme offers protection against severe disability, especially during old age. Until 2019, all Singapore citizens and permanent residents with MediSave accounts were automatically enrolled in ElderShield at the age of 40, unless they opted out of the scheme. Those automatically enrolled are either under ElderShield 300 or ElderShield 400. All ElderShield customers should note that the Government will run ElderShield from 2021, taking over from private insurers such as Aviva, Income and Great Eastern. One good thing about the change is that the Ministry of Health allows ElderShield policyholders to make the switch to CareShield Life – the compulsory national long-term car...