Loading
This page explains where each benchmark comes from, which items rely on public references, and which items are internal educational assumptions.
This tool provides a general educational estimate based on user-provided information and public financial planning benchmarks. It does not constitute financial advice, a product recommendation, or confirmation of suitability. Verify policy details directly with your insurer and seek help from an appropriately qualified professional before making any insurance decision.
| Scoring Area | Formula / Benchmark Used | Source Type | Source / Reference | Notes |
|---|---|---|---|---|
| Life coverage | 9 × annual income, plus an educational dependant estimate | Official benchmark | MoneySense / MAS Basic Financial Planning Guide, LIA recommendation Open reference | 9x annual income is the general benchmark. Any dependant adjustment for children or parents is an educational estimate only, as MAS / MoneySense / LIA do not prescribe a fixed amount per dependant. Not personalized advice. |
| TPD coverage | 9 × annual income | Official benchmark | MoneySense / MAS Basic Financial Planning Guide, LIA recommendation Open reference | Used as a general benchmark, not personalized advice. |
| Critical Illness coverage | 4 × annual income | Official benchmark | MoneySense / MAS Basic Financial Planning Guide, LIA recommendation Open reference | Used as a general benchmark, not personalized advice. |
| Premium affordability | Up to 15% of take-home pay | Official benchmark | MoneySense / MAS Basic Financial Planning Guide Open reference | Affordability benchmark only. It is not a product recommendation. |
| Hospitalisation assessment | Coverage level versus preferred ward type | Public scheme reference | MOH MediShield Life, CPF, Integrated Shield Plan information Open reference | No single official formula. Score uses current hospital coverage level and preferred ward type. |
| Long-term care assessment | CareShield Life payout plus private supplement | Public scheme reference | CPF CareShield Life Open reference | Score estimates monthly care funding gap after adding CareShield Life and reported supplements. |
| Retirement readiness | Projected monthly retirement income versus desired monthly retirement expense | Public scheme reference | CPF LIFE / CPF Retirement Payout Planner Open reference | Score compares expected retirement income against desired retirement spending level. |
| Early Critical Illness | Internal benchmark: 50% of CI target | Internal educational assumption | MoneySense Critical Illness Insurance guidance (no official formula) Open reference | Used only as a recovery support estimate for education. It is not an official formula. |
| Personal Accident | Coverage presence and amount review only | Internal educational assumption | MoneySense Assessing Your Insurance Needs guidance (no official formula) Open reference | Used for educational assessment of accident support only. It is not an official formula. |
Methodology version: SG-Methodology-v2.0
Last reviewed date: 27 May 2026
Benchmarks may be updated when public references change.