Plan coverage with clarity.
Use a focused fact-find to estimate life, critical illness, personal accident and hospitalisation needs—then see how every figure is calculated.
Recommendation
Additional coverage gaps
No CI cashflow objective is recorded; stage results contain one-off needs only.
All-cause protection
Life, disability & terminal illness
DeathRule-of-thumb: S$0
Gross needS$20,000
Target coverS$20,000
ExistingS$0
Additional gapS$20,000
Total & permanent disabilityRule-of-thumb: S$0
Gross needS$50,000
Target coverS$50,000
ExistingS$0
Additional gapS$50,000
Terminal illnessOften accelerated from death cover
Gross needS$50,000
Target coverS$50,000
ExistingS$0
Additional gapS$50,000
Do not add all three face amounts.
Where one policy pays on mutually exclusive Death, TPD or TI events, size the shared base against the largest applicable need, then check benefit ratios, expiry ages and acceleration.
Death calculation trail
Present value of dependant supportS$0
Liabilities selected for clearanceS$0
Education and future obligationsS$0
Immediate estate costsS$20,000
Earmarked liquid assets- S$0
Target insurance coverS$20,000
TPD calculation trail
Income/expense gap for 25 yearsS$0
Liabilities selected for clearanceS$0
Care and home modification allowanceS$50,000
Future obligationsS$0
Earmarked liquid assets- S$0
Target insurance coverS$50,000
The needs-based result is the proposal anchor; the 9x-income figure is a Singapore rule-of-thumb comparison, not a minimum.
Confirm whether employer and group benefits continue after a job change before counting them.
TPD definitions, payment schedules and maximum cover ages differ by policy; test the proposed sum against product financial-underwriting limits.
Disability income cover is the more direct tool for monthly income replacement where available.
Methodology, assumptions & official sources
What the engine does
Each event is calculated independently. Gross need minus explicitly available non-insurance resources gives target cover. Target cover minus event-specific existing benefits gives the additional gap.
MoneySense income multiples are visible comparators. They do not override a client’s actual cashflow, dependants, liabilities, existing cover or self-insurance decision.
Planning assumptions used
Cash needs are rounded up to the nearest S$5,000.
Dependant support is discounted at 3% and inflated at 2% a year.
Only assets explicitly earmarked for protection are deducted; retirement assets are not automatically consumed.
For Death/TPD, do not include both a debt principal selected for clearance and the same instalments in recurring outflow.
CI cashflow uses the higher of the monthly commitment floor and the explicit income-protection objective; these are alternative funding objectives and are never added together.
The recorded CI income-protection objective is S$0 a month before reliable continuing income.
For CI debt repayment, record only the principal deliberately selected for clearance and the instalment it would actually eliminate; shared amounts are counted once in multi-claim capacity.
Existing-cover inputs mean cash payable for that event, after known accelerations and overlaps.
CI treatment/recovery allowances are configurable planning assumptions: S$10,000 early-stage, S$20,000 intermediate-stage and S$30,000 late-stage.
PA and hospital limits are planning screens, not statutory adequacy standards.