Life Insurance Coverage Calculator Singapore 2026
Use the DIME method to calculate exactly how much life insurance you need in Singapore. Accounts for your debts, income replacement, mortgage, children's education, and existing coverage.
Uses the DIME method — Debt, Income, Mortgage, Education
I — Income Replacement
D + M — Debts & Mortgage
E — Education Fund
Existing Assets
Consider a term life policy of at least $1,180,000 to close this gap.
The DIME Method Explained
D — Debt: Outstanding personal loans, car loans, credit card balances, and any other debts your family would inherit.
I — Income: Annual income multiplied by the number of years your dependants need financial support.
M — Mortgage: Outstanding home loan balance (deduct if already covered by HPS or MRTA).
E — Education: Estimated cost of your children's tertiary education at local universities (S$30–60K) or overseas (S$150–300K per child).
Subtract existing life insurance coverage and liquid CPF balances from the total to find your coverage gap.