Coverage Estimator

” How much life insurance coverage do you need (on top of your current coverage)? ”

(The projected figure is only an estimate for death cover. You should talk to your agent to ensure sufficient cover for areas like health and disability)

    1.     Refers to the debts of the person who wishes to be insured.
    1.1     Mortgage loan
    1.2     Car loan
    1.3     Study loan
    1.4     Bank loan
    1.5     Credit card balances
    1.6     Other debts
    Total outstanding liabilities (RM)

    2.     Refers to expenses likely to be payable at time of the insured person's death.
    2.1     Funeral expenses
    2.2     Estate duty
    2.3     Probate costs
    2.4     Income tax
    2.5     Emergency funds
    2.6     Other immediate expenses
    Total immediate expenses (RM)

    3.     Dependents are those who depend financially on the insured. They include the insured's children, spouse, parents, siblings, etc.
    3.1     Current dependents’ living expenses per month (excluding the insured's own expenses)
    Dependent 1 Dependent 2 Dependent 3 Dependent 4 Dependent 5
    Dependent 6 Dependent 7 Dependent 8 Dependent 9 Dependent 10
    3.2     Number of years to provide financially for dependents
    Dependent 1 Dependent 2 Dependent 3 Dependent 4 Dependent 5
    Dependent 6 Dependent 7 Dependent 8 Dependent 9 Dependent 10
    3.3     Total expenses
    Dependent 1 Dependent 2 Dependent 3 Dependent 4 Dependent 5
    Dependent 6 Dependent 7 Dependent 8 Dependent 9 Dependent 10
    3.4     Expected investment returns (e.g. interest rate) (%)
    3.5     Anticipated inflation rate (%)
    Total expenses in today's dollars (RM)

    4.     Applicable only if family does not have other financial arrangements for children's education.
    4.1     Current course fees per annum
    Child 1 Child 2 Child 3 Child 4 Child 5
    4.2     Course duration (years)
    Child 1 Child 2 Child 3 Child 4 Child 5
    4.3     Total fees
    Child 1 Child 2 Child 3 Child 4 Child 5
    4.4     Number of years to start of university/college
    Child 1 Child 2 Child 3 Child 4 Child 5
    4.5     Education inflation rate (%)
    Total fees in today's dollars (RM)

    5.     Refers to extra financial cushion provided for family and wealth intended to be passed down to children.
    5.1     Emergency funds for family
    5.2     Inheritance to children
    Total emergency funds and inheritance (RM)

    6.     Refers to insurance/assets that can be easily turned into cash and made available to dependents. Assets that need to be used by dependents should not be included (e.g. family home).
    6.1     EPF savings
    6.2     Cash savings and fixed deposits
    6.3     Investments (including shares, unit trusts, bonds, etc.)
    6.4     Existing life insurance
    6.5     Mortgage insurance
    6.6     Other assets
    Total insurance and assets (RM)


    Your additional life insurance coverage needed (RM)
    Life insurance coverage = Financial obligations (items 1, 2, 3, 4, 5) - Assets (item 6)

    Disclaimer: The costs shared are just estimates and should not be taken as guarantees. Calculations serve as a tool to guide insurance planning with licensed agents. Insurance needs will also change over time so it is important to review with your agents at least once a year.