By MoneyBees
Work out the monthly income you would need if you could not work, the gap after existing cover and CareShield Life, and whether savings last through the deferment period.
It pays you a monthly income if illness or injury stops you from working. Payouts start after a waiting period, called the deferment period, and run until you recover or reach the age set in the policy.
Start with the share of your gross monthly income you want replaced, take away any disability income cover you already have, and the rest is your gap. On S$5,000 a month at 75%, that is S$3,750 a month.
Only for severe disability. CareShield Life pays S$689 a month for a claim made in 2026 when you cannot do 3 of the 6 activities of daily living. It pays nothing if you cannot work but can still wash, dress and feed yourself.
The time between becoming disabled and the first payout, often 30 to 180 days. A longer deferment lowers the premium, so you need savings or sick leave to cover those months.
Insurers limit the benefit to a share of your income so that you are not paid more for being off work than for working. The limit differs between insurers, so check the policy wording.
Usually until the age you plan to stop working. Payouts stop at the age set in the policy, so a benefit to 65 pays nothing from 65 even if you are still disabled.
The payout for a new claim rises each year until you reach 67 or make a claim. Once you claim, your payout stays at the amount for that year.
No. This calculator works out the size of your gap. It does not compare or recommend insurers or policies.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).