This is the personal website of James Lim, an established financial consultant who is serving hundreds of happy clients. Through this site, he hopes to keep his clients and new prospects updated on latest developments that will impact their financial plans. This site will also give potential clients a good idea of who James is and how he can help them achieve their financial objectives.


James Lim started out working in the government, before going on to found and run a highly successful IT company for about 10 years. He moved into the finance industry in 2016 and has since become a member of the prestigious Million-Dollar Round Table. He builds his business on the foundation of integrity and trust, which is why most of his clients have placed their investments and financial plans with him.

Turning 40 – How Does CareShield Life Affect me?

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The Government is introducing CareShield Life, a national long-term care insurance scheme designed to provide basic protection against long-term care costs, from 2020.

Who will qualify for CareShield Life?

  • If you are born in 1980 or later, you will automatically be enrolled in CareShield Life in 2020 or when you turn 30.
  • If you are born in 1979 or before, you can opt to join CareShield Life in 2020, IF you are not disabled. But if you are born between 1970 and 1979, you will be automatically enrolled in CareShield Life if you do not opt out before 31 Dec 2023. If you opt out, your premiums will be refunded.

Key Benefits

  1. Universal Coverage. Those with pre-existing conditions and disabilities will be included if you are born on or after 1980. Citizens born before 1980 will enjoy universal coverage, which means pre-existing conditions will be covered.
  2. Lifetime cash payouts. Payouts will be for lifetime as long as you cannot perform 3 out of 6 activities of daily living.
  3. Increasing payouts with time. Starting at $600/m in 2020, payouts will rise every year to cater for inflation.
  4. Affordability. No one will lose their coverage if they cannot afford to pay the premiums.


Payouts will increase (approximately 2%/yr) with time until you reach age 67 or when a claim is made, whichever is earlier.


In order to cater for the increasing coverage, premiums will also increase with time. A council will decide on how premiums will increase.

In summary, this infographic created by MOH will summarize the key features.



By | 2018-08-29T07:00:39+00:00 August 29th, 2018|Eldershield, Health Insurance|0 Comments

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