Mrs Irmawaty Yusoff, 42, counts herself lucky. Save for a brief hospitalisation some years ago when her father sought treatment for a fish bone lodged in his throat, both her parents have never required hospital care. But logic tells her it is only a matter of time before they will.

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. Her ex-neighbour’s father had multiple chronic conditions that over time led to increasing care needs and repeat hospital stays.

“I would often see an ambulance pull up outside our block to take him to the hospital,” said Mrs Irma. “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.”

This struck a chord with Mrs Irma. 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. 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. The long-term care insurance policy provides adequate coverage should such a crisis occur, thus buffering her family from financial strain.

FAMILY IS EVERYTHING

Formerly a guest relations host at a bank, Mrs Irma gave up her career in 2015 to devote herself fully to her then-growing family. The homemaker now spends her days taking care of her four children aged between five and 13, while her husband, an aviation engineer, provides for the family financially.

No matter how busy her children keep her, she finds time to visit her parents every day. “Two of my kids study at the primary school near my parents’ house, so I usually drop by with breakfast after sending my kids off to school. Some days, I will stop by again after fetching my children from school,” said Mrs Irma. Her children have a close relationship with their grandparents, who often join the children for games.

“Although my parents are still able-bodied, they are getting frailer as they age. I drop by to check on them and hang out for a bit. 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. 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.

Mrs Irma has no regrets about leaving the workforce to be a stay-at-home mother. “My family is my life. Without them, there is no life; there is no joy in my life,” she asserted. 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.

“The rising healthcare cost is one of my main worries. 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. 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. 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.

A WIN-WIN SOLUTION FOR EVERYONE

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. “I don’t want my parents to worry about finances from a hospital bed,” she said.

Another advantage is that the payouts are in cash. “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. The flexibility offered by CareShield Life cash payouts is very helpful in how I decide to take care of them,” she explained. 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. 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.

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. That means her parents do not need to fork out any money from their personal savings. Because these payments are automated, the process is hassle-free as well.

As a multi-generational caregiver, Mrs Irma feels that CareShield Life suits her needs to a tee. 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. At the same time, it enables her and her husband to set aside more money for their children’s future.

A LABOUR OF LOVE

Becoming a parent gave Mrs Irma a whole new appreciation for the love, care and sacrifices of her own parents. “I remember how my parents cared for me and worked hard to support me. They kept me safe, looked after me when I was sick, and taught me the importance of family,” she said fondly. “Now, I want to do the same for them.”

Although 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. “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. If they were to develop severe disability, I want to make sure they are well provided for,” said Mrs Irma. “Our parents raised us, so it is only right that we take care of them when they grow old or get sick.”

Planning ahead and finding the right insurance for her parents with CareShield Life makes a huge difference. It gives Mrs Irma peace of mind knowing that her parents are protected, and hope that all three generations of her family can continue to thrive and grow alongside each other in the years to come.