CareShield Life is a government-mandated disability insurance that provides a lifetime monthly payout of S$600 if you get into an accident or suffer an illness that renders you disabled. Do note that while monthly payouts will start at S$600/month, they will have a non-guaranteed increase of 2% annually until you turn 67. Your pre-existing disabilities will not exclude you from coverage. As soon as you are qualified to make a claim, you will stop paying premiums and will start receiving your monthly payout. Coverage is also worldwide, as long as you are a Singaporean citizen or permanent resident.