Eldershield is a long term disability scheme operated by the Ministry of Health. All CPF members are required to automatically covered under the scheme unless they decide to opt out. Should you opt out? Here are the facts to help you to make a decision.
www.tankinlian.com (Ask Mr. Tan)
When I was working in ntuc, I specifically asked the G&H dept about the actual claims experience for Eldershield policies administered by ntuc, the total claims to premiums ratio, and the trend over the last 5 years.
ReplyDeleteI put the above questions to the relevant party 2 times, and even went thru my GM. They refused to answer any of my questions. Actually they replied by telling me an inane non-answer -- that policyholders can claim if they satisfy the requirement of not being able to perform at least 3 of the 6 ADLs.
This type of behaviour demonstrates a great deal to me. Negatively of course.
I simply told the dept and my GM that since they are not forthcoming & transparent, I will not actively recommend it to customers.