Insurance Needs Calculator (Singapore)
Work out roughly how much life, total-and-permanent-disability (TPD) and critical-illness (CI) cover you may need, and how big your protection gap is after existing policies.
Open the free calculator →What you'll need
- Annual income
- Outstanding debts (home loan, etc.)
- Dependants and years of support
- Existing coverage (employer + personal)
- Liquid assets/savings
How it works
A common starting point from the MAS/MoneySense Basic Financial Planning Guide is roughly 9× annual income for death/TPD and 4× annual income for critical illness. Add liabilities and future family needs, then subtract existing cover and assets to find the gap.
Current Singapore rules
| Cover type | Rough guideline |
|---|---|
| Death / TPD | ~9 × annual income |
| Critical illness | ~4 × annual income (≈5-year recovery) |
Worked example
On $60,000 annual income, the guideline suggests about $540,000 death/TPD cover (9×) and $240,000 CI cover (4×). If you already hold $200,000 of life cover, your indicative death/TPD gap is about $340,000.
Important assumptions
- Income multiples are general guidelines, not personalised advice
- Does not assess specific policy terms, exclusions or riders
- Inflation and changing needs over time are simplified
Cases not fully modelled:
- Detailed needs analysis (e.g. itemised future expenses)
- Health, occupation or underwriting loadings
- Hospitalisation/MediShield Life adequacy
Official sources and verification
Direct links to the relevant official pages. Rules and rates change; last checked 21 June 2026. Always confirm against the official source.
Open the free calculator →Frequently asked questions
How much life insurance do I need in Singapore?
A common MoneySense guideline is around 9× your annual income for death/TPD, adjusted for debts, dependants and existing cover. This calculator gives an indicative figure, not personalised advice.
How much critical-illness cover is suggested?
Roughly 4× annual income, reflecting an assumed multi-year recovery period before returning to work. Your own needs may differ.
Does employer insurance count?
Yes — include group cover from your employer when working out your gap, but remember it usually ends when you leave the job.