Nobody is certain about what will happen in the future. That is why it is crucial to protect yourself and your family from the unpredictability of life. Disability due to a medical condition or accident is devastating not only to the victim but to the entire family. It not only takes the freedom of doing things the way you want, but it also prevents you from providing for your family. Although accidents and health issues are beyond our control, you can take measures to cushion yourself and your family in case any of them occurs. Great CareShield has been designed to protect you, in case you become disabled because of an accident or medical condition. For more information about great CareShield, visit https://www.ocbc.com/personal-banking/insurance/great-careshield. In this article, we will discuss what great CareShield is all about, and its benefits.
What is Great CareShield?
Great CareShield is a health insurance cover designed to cushion you in case you become disabled because of an accident or medication conditions. This health insurance cover gives up to lifetime monthly payouts if you are not able to perform any activity of daily living (ADL), including washing, feeding, dressing, walking, and toileting.
Benefits of Great CareShield
- Payout starts upon the inability to perform an ADL
Perhaps the greatest benefit of Great CareShield is that monthly payments start the moment you are not able to perform any activity of daily living. This means that if you are not able to wash your clothes or feed your family because of an accident, then you will start receiving monthly payouts immediately until the end of your life or until you recover from your disability, whichever comes first. Additionally, if you are certified to be unable to perform more than two ADLs, you will receive additional money each month to cater for your children and other caregiving expenses.
- No premium payment when not able to perform ADL
The moment it is confirmed that you are not able to perform any of the ADLs listed above, you will not pay premiums again. Instead, you will start receiving monthly payouts of 1500 SGD until you recover from your disability or for a lifetime. This is important because you will not struggle to take care of yourself or your family during this difficult period.
- You can pay with your Medisave account
Another benefit of Great CareShield is that you may use up to 600 SGD from your Medisave account to pay for your Great CareShield annual premium. This makes it even more convenient and affordable for you.
- Fixed premiums
Unlike other insurance covers where premium increases with time, Great CareShield has a fixed premium. This means that once you buy this plan, your annual premium will not increase even when inflation increases. The fact that premium does not increase with age or inflation makes Great CareShield very affordable. However, if you want to get the best deal from Great CareShield, you should buy your plan right now to avoid paying a higher premium in the future.