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Life Insurance Calculator Singapore

Q: Can this replace professional advice?

No. It’s an educational estimate built to complement MAS guidance , not licensed advice. Use it to frame your needs, then review with a qualified adviser before buying or changing any policy.

Q: How do you estimate children’s education needs?

Choose local or overseas , set years to university and duration , and pick an inflation % . The tool inflates today’s fees to the start year and sums each year of study, then folds that into your overall life cover need.

Q: What counts as “Existing Life Coverage”?

Sum assured from term/whole-life , group/company policies , DPS , and any other life/TPD plans. If unsure, check your policy documents or insurer portal for current in-force amounts.

Estimate life cover for death, TPD and critical illness (incl. Early Stage), including mortgage, education and debts built for Singapore, complementing MAS guidance.

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Calculator Overview

Start with the number. A Singapore life insurance calculator that complements MAS guidance for death, TPD and critical illness across term or whole-life plans.

MAS Guideline

Built to complement MAS Basic Financial Guideline, we start with rules of thumb about nine times income for death/TPD and four times for critical illness then tailor to your situation. Results are illustrative, not advice; review, consult and get quotes from our financial advisors

Children Education

Plan for children’s education by estimating local or overseas university costs, years until enrolment, and study duration. We inflate today’s fees by your chosen rate to project funding needs and integrate them into your overall calculation.

Liabilities & Giftings

Include real-life commitments: mortgage share to cover, other debts, and any planned gifts to family or charities. We add these to your baseline need and offset existing coverage and savings, producing a clearer, right-sized protection figure

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Calculate Your Protection Needs

Synthesis Life Insurance Needs — Complementing MAS Basic Financial Guideline

Annual Income (SGD) Gross annual income before tax. Used to compute ~9× (Death/TPD) and ~4× (CI) baselines. Existing Life Coverage (Death/TPD) (SGD) Sum assured from all policies including DPS and group term. This will offset the Death/TPD need. Existing Critical Illness Coverage (incl. Early Stage) (SGD) Include any Early Stage CI coverage as well as standard CI. This offsets the CI need. Liquid Savings for Dependants (SGD) Cash or investments you want counted towards dependants, to offset Death/TPD need. Mortgage Outstanding (SGD) Enter the remaining principal you wish to cover. Portion of Mortgage to Cover (%) If you share with a spouse, enter your share (e.g., 50). Additional Giftings (SGD) Extra amount you wish to leave for family/charity. Other Liabilities (SGD) E.g., car/education loans, personal loans.

Children’s Education (optional)

Education inflation (% p.a.) 10-year average CPI (2015–2024): SG ~1.8%, US ~2.9%, UK ~2.9%, AU ~2.7%. Tip: education costs often outpace CPI. Default Local Uni Cost (SGD/yr) Default Overseas Uni Cost (SGD/yr)

Add a row per child. Choose Local or Overseas. Costs can be edited.

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Life Insurance Calculator F.A.Q

Find answers to commonly asked questions about our Life Insurance Calculator

How does this calculator estimate my required cover?

We start with common rules of thumb that complement MAS Basic Financial Guideline (about 9× income for Death/TPD and 4× for Critical Illness). Then we add your mortgage share, children’s education, other liabilities, and planned gifting, and subtract existing cover and liquid savings to show the gap.

Can this replace professional advice?

No. It’s an educational estimate built to complement MAS guidance, not licensed advice. Use it to frame your needs, then review with a qualified adviser before buying or changing any policy.

How do you estimate children’s education needs?

Choose local or overseas, set years to university and duration, and pick an inflation %. The tool inflates today’s fees to the start year and sums each year of study, then folds that into your overall life cover need.

What counts as “Existing Life Coverage”?

Sum assured from term/whole-life, group/company policies, DPS, and any other life/TPD plans. If unsure, check your policy documents or insurer portal for current in-force amounts.

Should I include liquid savings and investments?

Only include amounts you’re comfortable earmarking for dependants (e.g., cash, fixed deposits, simple portfolios). We subtract this from the Death/TPD need; if it’s not truly available to dependants, leave it out.

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Compare Term Insurance

Find out Term Life Insurance Options and Compare quotes. Seek professional consultation to gain clarity about your life protection needs.

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