Planning ahead and finding the right insurance for her parents with CareShield Life makes a huge difference. “Our parents raised us, so it is only right that we take care of them when they grow old or get sick.” If they were to develop severe disability, I want to make sure they are well provided for,” said Mrs Irma. “Right now, my parents are healthy and well, but I’m aware that an accident or illness could happen at any time, especially given their advancing age. “Now, I want to do the same for them.”Īlthough her father did not experience any complications from the swallowed fish bone, it was a wake-up call not to take her parents’ health for granted. They kept me safe, looked after me when I was sick, and taught me the importance of family,” she said fondly. “I remember how my parents cared for me and worked hard to support me. At the same time, it enables her and her husband to set aside more money for their children’s future.īecoming a parent gave Mrs Irma a whole new appreciation for the love, care and sacrifices of her own parents. It allows her to better plan for her parents’ long-term care needs, so she will not have to scramble and worry about the future. Because these payments are automated, the process is hassle-free as well.Īs a multi-generational caregiver, Mrs Irma feels that CareShield Life suits her needs to a tee. That means her parents do not need to fork out any money from their personal savings. The CareShield Life premiums are paid using a combination of her parents’ MediSave savings and the participation incentives, for which they received the full S$4,000 as Merdeka Generation seniors. This would give Mrs Irma a breather during times when her children need her, or a well-deserved break now and then to attend to her own needs. For example, the payouts could be used to engage short-term respite care services such as a home care professional or at a senior day care centre. The flexibility offered by CareShield Life cash payouts is very helpful in how I decide to take care of them,” she explained.

“If my parents need long-term care one day, I want them to move in with me so I can take care of them instead of putting them in a nursing home. “I don’t want my parents to worry about finances from a hospital bed,” she said.Īnother advantage is that the payouts are in cash. When Mrs Irma found out that CareShield Life provides lifelong monthly payouts in the event of severe disability, and that the payouts are significantly higher compared to ElderShield, she quickly helped her parents make the switch. She therefore took it upon herself to enrol her parents into CareShield Life, to create a better safety net for them and to ease the caregiver burden on herself. Though Mrs Irma’s father supplements his retirement savings by working as a self-employed Grab driver, she knows how precarious this type of work is. Should my parents ever need long-term care, it could put a financial strain on my family, especially since my husband is the sole breadwinner,” she confided. “The rising healthcare cost is one of my main worries. That said, going from a dual-income to single-income household means money is tighter, which could be an issue once her parents’ health starts to deteriorate. Without them, there is no life there is no joy in my life,” she asserted. Mrs Irma has no regrets about leaving the workforce to be a stay-at-home mother. If my mother’s legs are sore, I will massage them for her,” Mrs Irma explained, adding that her older brother lives on the other side of Singapore and is unable to visit as often. I help them whenever I can, such as carrying groceries, filling out paperwork, or if they have problems with their television, air conditioner or phone. I drop by to check on them and hang out for a bit.

“Although my parents are still able-bodied, they are getting frailer as they age.

The long-term care insurance policy provides adequate coverage should such a crisis occur, thus buffering her family from financial strain. Wanting to take good care of them without neglecting the needs of her children, she got her parents, both 72, to enrol into CareShield Life in 2021. Also a mother of four, she knew she would do the lion’s share of caregiving work if either of her parents were to develop health problems and require long-term care. “My former neighbour also opened up to me once about the heavy financial burden and emotional stress she was under from being her parents’ main caregiver.” “I would often see an ambulance pull up outside our block to take him to the hospital,” said Mrs Irma. Her ex-neighbour’s father had multiple chronic conditions that over time led to increasing care needs and repeat hospital stays. She has seen it happen to others around her age, such as a former neighbour who was looking after her elderly parents and four children while simultaneously holding a full-time job.

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