What is CPF Medisave Additional Withdrawal Limits AWL


According to Ministry of Health, Additional Withdrawal Limits is to help Singaporeans pay for part or all of their Integrated Shield Plan (IP) premiums using Medisave. And according to CPF, The MediSave withdrawal limits are imposed to conserve members’ MediSave savings from being depleted too fast for their future hospitalisation needs. For those with integrated plans (IPs), there will be an Additional Withdrawal Limits (AWLs) to enable Singaporeans to use their MediSave, up to that cap, to pay the additional premium for the private insurance component of their integrated plans IPs. In short, If you buy an IP cover, you will be able to use MediSave to pay the premium for the additional private insurance coverage component up to the Additional Withdrawal Limits (AWLs). Thus, whatever amount beyond AWLs, policyholders will have to top up with cash.

The Additional Withdrawal Limits (AWLs) apply on top of the amount of MediSave used for MediShield Life premiums:

$300 if you are 40 years old or younger on your next birthday.
$600 if you are 41 to 70 years old on your next birthday.
$900 if you are 71 years or older on your next birthday
Each insured person can only have one Integrated Shield Plan paid with MediSave. For more details please refer to the links at the sources below.



One Last Thing

You may refer to my previous blog on MediShield Life Premium and Benefits Proposed Changes. Do seek help from your friendly financial consultant to help you with your financial planning. Or Contact me for an Insurance and Financial Planning Service. Here are information on Income and Disability Protection Insurance Planning and Term Life and Whole Life Insurance Comparison.


Note: Opinions expressed are solely in Mr. Chan Kong Meng’s personal capacity and neither express the views or opinions of Prudential nor represent any professional advice in Mr. Chan Kong Meng’s capacity as a PACS representative.




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