An Integrated Approach to Long-Term Care for a Super-Aged Singapore Qorus-NTT DATA Innovation in Insurance Awards 2026

Summary
Singlife is the largest long-term care (LTC) insurer in Singapore, one of Asia’s fastest-ageing societies where LTC needs are rising faster than traditional solutions can keep pace. We have long recognised that longevity poses a structural risk that demands long-horizon strategies. Our commitment has been to build a more resilient LTC ecosystem.

In 2024, ahead of Singapore becoming a super-aged society – where one in five residents will be 65 and older by 2026 and one in four by 2030 – and with dementia cases projected to double to 152,000 by 2030, we strengthened our LTC portfolio through modular, ecosystem-led innovation. Instead of redesigning products from scratch, we introduced a flexible supplement for cognitive decline, enhancing existing coverage where risks are intensifying and gaps persist. This approach enabled advisers and customers to reinforce protection simply, precisely, and sustainably.

Innovation for us extends beyond product design. In 2025, we advanced national conversation through thought leadership. We published a data-backed white paper on LTC affordability and readiness, establishing a clearer benchmark for monthly care costs and reframing what “adequacy” means for families.

This combination of actionable insight and practical innovation raised the bar for the industry and empowered customers to plan with realism and confidence. It’s a coherent strategy anchored in anticipatory design, evidence-based insight and meaningful support. Singlife is not merely reacting to ageing but preparing society for it. By shaping solutions, reframing expectations and strengthening resilience, we are redefining what responsible leadership in LTC looks like, so Singaporeans can age with dignity.

The Challenge: A Structural Shift in LTC Needs

Singapore’s rapidly ageing population is reshaping LTC needs at a structural level.

• By 2030, 1 in 4 Singaporeans will be aged 65 and above (Singapore Department of Statistics)

• 1 in 2 seniors will face disability in their lifetime (Singapore Ministry of Health)

• 1 in 11 adults aged 60 and above live with dementia (Institute of Mental Health, 2023), which is one of the main drivers of LTC

• By 2030, total dementia cases are expected to double to 152,000 (Singapore Ministry of Health, 2021)

• 5% of persons living with dementia in 2023 were aged 65 and below (National Neuroscience Institute), and this number is rising

Long-term care (LTC) needs in Singapore are rising, yet financial preparedness has not kept pace. LTC costs now average S$2,952 per month – a 27% increase since 2018 (Singlife LTC study, 2024), yet only one in three Singaporeans has taken up a private plan to supplement the basic coverage under the national LTC schemes CareShield Life and ElderShield. This creates a growing gap between the actual cost of care and what many individuals have planned for retirement.

At the same time, awareness of specific LTC-related conditions such as dementia remains low. For example, only 1 in 4 individuals with young-onset dementia are aware of available support services (Dementia Singapore, 2024). As a result, many Singaporeans underestimate their LTC and dementia risks, delay planning, and rely heavily on national LTC insurance schemes.

However, these national schemes provide payouts only when an individual is unable to perform three or more Activities of Daily Living (ADLs) – feeding, dressing, washing, transferring, toileting, walking/moving around. Because early-stage dementia often preserves physical ability, many individuals and families may face a prolonged caregiving period before qualifying for financial support, further widening the care and cost gap.

Our Approach: Anticipatory, Modular, Ecosystem Led

As a homegrown financial services company, Singlife is guided by our purpose of delivering “A Better Way to Financial Freedom”, not only through innovative financial solutions, but by empowering individuals to age with dignity and confidence. Recognising that LTC and cognitive decline risks were outpacing traditional coverage and continuing our commitment to strengthening Singapore’s LTC landscape, Singlife acted ahead of market urgency.

In 2024, we introduced Singlife Dementia Cover. This flexible supplement for cognitive decline is a modular enhancement that strengthens coverage precisely where risk is intensifying, while complementing national schemes. Designed for simple adoption and seamless integration into existing advice flows, it aligns protection with the real progression of dementia.

This ecosystem-driven innovation was strengthened through Care Collab, Singlife’s partnership-led care support platform designed to help policyholders, families and caregivers navigate and access trusted care resources and services. By embedding Care Collab into the design and advisory journey, we ensure customers receive not only enhanced financial protection, but also practical, real-world support through a coordinated network of care partners.

Key partnerships have been established to support different aspects of the LTC journey. For dementia care, Singlife works with organisations such as Dementia Singapore to guide individuals living with dementia and their caregivers on how to navigate the condition, access community resources, and better manage day-to-day care needs. For LTC support at home, recognising that families may struggle to balance caregiving with work and personal commitments, Singlife has also onboarded partners such as Jaga-Me, which provides access to trained caregivers who can support policyholders and their loved ones.

Cross-functional teams, from Product and Pricing to Consumer Experience & Research, engineered the solution to support both financial resilience and caregiver wellbeing, bridging the gap between physical disability-based triggers and real-world cognitive decline.

Teams were guided by the following objectives:

• Strengthen national readiness by complementing CareShield Life and existing supplements.

• Reduce behavioural barriers to earlier LTC planning.

• Provide financial assurance aligned to dementia’s progression.

• Deepen ecosystem engagement and awareness, supported by ongoing research and adviser enablement.

Beyond Product: Shaping the National LTC Conversation

In 2025, Singlife advanced the national LTC conversation through thought leadership, publishing a white paper that established an updated benchmark for the monthly cost of LTC in Singapore at approximately S$3,000.

This benchmark was developed through in-depth research that combined Singlife’s proprietary claims data, insights from two consumer research studies commissioned by Singlife, and perspectives gathered across the care ecosystem – including healthcare professionals, policymakers, advocacy groups, and both private and public sector stakeholders involved in LTC.

By triangulating these resources, the study provided a more realistic view of the financial demands associated with ageing and care. The findings helped quantify the true cost of LTC and reframed what “adequacy” means for families, moving the conversation from abstract concern to greater awareness and action.

Through this work, Singlife contributed to a broader industry dialogue on LTC preparedness, equipping advisers, families and policymakers with clearer, evidence-based reference points to support more informed planning.

Outcome: An Integrated Strategy for Resilience in an Ageing Society

Through anticipatory design and market-shaping insight, Singlife has advanced a holistic, long-horizon approach to strengthening Singapore’s LTC landscape. Through this coherent strategy anchored in ecosystem-led innovation, evidence-based insight and meaningful support, we are not merely reacting to ageing; we are preparing society for it.

By shaping solutions, reframing expectations and strengthening resilience, we are redefining what responsible leadership in LTC looks like, so Singaporeans can age with dignity and confidence.