Why Should You Save Up for the Future?

by Sudarsan

Life is full of uncertainty; as much as we live with so many expectations and dreams, we are unsure of tomorrow. However, that should not stop you from living your best life today and even planning for the future. Do the best you can do, work hard while you can, having in mind that anything can happen.

Did you know about 3% of the Singapore population has some form of disability? The thing is, disability can happen at any time or probably when you least expect it. That’s why https://www.ocbc.com/personal-banking/insurance/great-careshield gives you the chance to save up for those uncertain days you will be unable to perform your daily activities.

What is care shield life?

It’s an insurance plan for basic financial support for when disabled or old to carry out your daily life activities. The care shield life is long-term and covers personal and medical care needs.

Reasons why you need care shield life?

Tomorrow is not promised, and we live only by faith. But one thing we are sure of, we will not be young forever. Old age is approaching and approaching fast. With old age comes decreased energy and work output, not forgetting the increased health risks. It means, whether you will have someone to take care of you or not, you have to think smart now while you are young. The best you would do is to ensure you can have saved up for those days, including getting the care shield life. You are at risk of becoming disabled in Singapore when aged 65 and above, meaning you will require long-term care for survival. The disabilities may be in different forms, including a sudden life-threatening condition, such as a stroke, chronic diseases, such as arthritis and diabetes, and old age illnesses, such as dementia. It is in this case, that it’s advisable to save and plan for unpredictable days, or events. Every Singapore citizen needs to have a care shield life cover. Usually, the insurance plan is for everyone from the age of 30 and above, where they provide your care shield life premiums. Having a care shield plan is mandatory for all Singapore citizens and permanent residents.

Which activities of your daily living care shield life cover?

You benefit from the care shield life if you cannot perform the following life activities. Usually, a representative comes to assess your situation before you can start to receive your payouts.

· Washing

· Toileting

· Feeding

· Dressing

· Walking or moving from one place to another

How does the care shield life care?

Usually, you start paying out a certain amount as a premium depending on your income from 30 years old. The payouts begin when you cannot carry out your daily life activities. The plan also provides financial support to cater to your caregivers when you cannot perform two or more of the activities of daily living.

The future is unforeseeable, but planning for it is necessary, especially in old age. Care shield life in Singapore gives you a chance to save up for your old age while still young.
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If you are 30 years old, make sure you comply and start your finance insurance plan.

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