dollarDEX - wealth management

Pru Global Basics Fund update
Global equities reversed a two-month trend of negative returns during a generally positive July characterised by renewed risk appetite.

Pru Dragon Peacock Fund update
The MSCI India advanced 0.73%1 in July as quarterly earnings results were mixed and did not manage to excite the market.

Big growth potential with smaller companies
Asia’s rapidly developing economies create a conducive environment for smaller businesses to flourish. Small businesses are typically less researched than large firms: almost half of all small caps ge...

AllianceBernstein Global Growth Trends Fund update
The Portfolio underperformed its benchmark for the month and for the year to date.

AllianceBernstein International Health Care Fund update
Trading in the Portfolio was active during the month, as we exited several names and adjusted position sizes around earnings results and stock movements.

Henderson European Property Securities Fund update
In the UK, Land Securities released an upbeat Interim Management Statement, announcing it would start the first large retail development since the global credit crunch began.

Pru Income X Fund update
The Fund declined 3.7% (bid-to-bid basis) in June, underperforming its benchmark by 3.7%

Pru Dragon Peacock Fund update
The MSCI India advanced 4.29% in June fuelled by macroeconomic data as the government announced on the last day of May a stronger than expected 8.6%2 growth in GDP for the three months ended March fro...

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Eldershield

What is ElderShield?

ElderShield is an insurance scheme introduced by the Ministry of Health (MOH) since 2002 to help people who become severely disabled and are not able to perform simple everyday tasks. Care suitable to the patient's needs (e.g., home nursing services, day rehabilitation, nursing homes, etc) can often be costly and continue over an extended period of time. The monthly cash payout from ElderShield will help defray out-of-pocket expenses for patients and their families. From September 2007, ElderShield will also be enhanced to provide higher payouts over a longer period. The new scheme will provide $400 a month up to 6 years to severely disabled policyholders, up from $300 a month up to 5 years in the old scheme.

The main purpose of ElderShield is to protect policyholders against severe disability. This means the inability of policyholders to perform at least 3 of the following Activities of Daily Living (ADL), even with the support of special equipment, and will to need the physical assistance of someone throughout the entire activity. Common causes of claims include stroke, accident and Parkinson's disease etc.

What are the ADLs?

Dressing : The ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical or medical appliances.
Feeding : The ability to feed oneself food after it has been prepared and made available.
Mobility : The ability to move indoors from room to room on level surfaces.
Toileting : The ability to use the lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances if appropriate.
Transferring : The ability to move from a bed to an upright chair or wheelchair, and vice versa.
Washing : The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.

Who is eligible to be covered under ElderShield?

All CPF members (Singaporeans and Permanent Residents) with Medisave accounts are automatically covered under ElderShield at the age of 40. As it is an auto-cover scheme, you do not have to sign up to join ElderShield or go for medical assessment. Singapore Citizens and Permanent Residents below age 65 who are not in the auto-coverage group, or who have previously opted out, can apply for ElderShield coverage.

Why should you be covered under ElderShield now?

Premium for ElderShield is determined at the age of entry and does not increase with your age. Premiums are payable annually until you reach the age of 65.

How do you pay?

Policy holders can pay for the premiums using Cash or Medisave.

Can I join ElderShield if I have pre-existing disability?

As with any insurance plan, a person with pre-existing disability may not be eligible for insurance coverage.

What are the common causes of claims?

Common causes of claims include stroke, accident and Parkinson's disease etc.

If you prefer a face-to-face discussion on the above products or need help to determine your insurance needs please make an appointment with a representative of dollarDEX.

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Page last updated 27 Feb 2009

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