By MoneyBees
Work out how much critical illness (CI) cover you need in Singapore from your own income, the years you might be off work and the costs your hospital plan will not pay. See your gap after the cover and savings you already have, and how CI cover fits beside MediShield Life and CareShield Life.
Before CPF.
LIA's study assumes 5.
Deductibles, treatment abroad, home care, changes to your home.
Lump sum, all policies.
Cover you need
$330,000
5 years of income plus costs
Your gap
$210,000
64% of the need
CPF's guide
$240,000
at least 4 times your income
Replacing $60,000 a year for 5 years is $300,000. With $30,000 of costs on top, you need $330,000. Your $100,000 of CI cover and $20,000 of savings leave a gap of $210,000.
Your cover replaces 1.7 years of income. LIA's 2022 study found the average policyholder had CI cover of about 2.1 times annual income.
Leave your email and we'll save this scenario so a MoneyBees adviser can follow up.
Or book a free chat if you'd rather talk it through.
| Scheme | What it pays | When |
|---|---|---|
| MediShield Life | Towards large hospital bills and selected costly outpatient treatments such as dialysis and chemotherapy | When you are treated; sized for B2 and C wards in public hospitals |
| CareShield Life | $689 a month for claims in 2026, for life while the disability lasts | When you cannot do 3 of the 6 activities of daily living |
| Critical illness policy | A lump sum to use as you choose | On diagnosis of a covered illness at the stage the policy defines |
MediShield Life helps with hospital bills and CareShield Life pays only for severe disability. A CI lump sum can go to rent, loans and living costs while you recover.
LIA sets standard definitions for 37 critical illnesses at the severe stage. The current set, Version 2024, applies to new products launched from 1 Oct 2025, and products on the 2019 definitions can no longer be sold from that date. Major cancer, heart attack, stroke, other heart diseases and kidney failure make up close to 90% of severe stage claims, LIA says.
LIA does not define early or intermediate stages. Each insurer writes its own definitions for them, so two policies that both say "early CI" can pay on different conditions. Read the policy's definitions before comparing prices. Since 16 Nov 2022 insurers also set their own waiting periods.
You earn S$60,000 a year and expect to need 5 years to recover, as LIA's study assumes. That is S$300,000 of income. Add S$30,000 for costs your hospital plan will not pay, and you need S$330,000.
You have S$100,000 of CI cover and would use S$20,000 of savings, so the gap is S$210,000, or 64% of the need. CPF's guide of at least four times income would be S$240,000 of cover.
LIA's Protection Gap Study 2022 put the CI protection gap at 74%, or S$579 billion, down from 81% in 2017. Average CI cover per policyholder was S$193,300, about 2.1 times annual income.
Figures checked 3 Oct 2026.
Start with the income you would lose while you recover: your annual income times the years you expect to be off work. Add costs your hospital plan will not pay, then take off the CI cover and savings you already have. CPF Board suggests at least four times your annual income.
A lump sum when you are diagnosed with a covered illness at the stage the policy defines. You can use it for anything, such as rent, loan repayments or living costs, unlike a hospital plan that pays towards the bill.
MediShield Life helps pay large hospital bills and selected costly outpatient treatments such as dialysis and chemotherapy, sized for B2 and C wards in public hospitals. It helps pay the bill; a CI policy is what pays a lump sum on diagnosis.
LIA sets standard definitions for 37 critical illnesses at the severe stage, Version 2024, used for new products from 1 Oct 2025. Early and intermediate stages are not defined by LIA, so each insurer writes its own definitions.
LIA says major cancer, heart attack, stroke, other heart diseases and kidney failure make up close to 90% of severe stage CI claims.
CareShield Life pays a monthly amount for life if you cannot do 3 of the 6 activities of daily living: S$689 a month for claims made in 2026. It is for severe disability, not a diagnosis, so it does not replace CI cover.
LIA's Protection Gap Study 2022 put it at 74%, or S$579 billion. Average CI cover per policyholder was S$193,300, about 2.1 times annual income.
These calculators provide general estimates for educational purposes only and are not personalised financial advice. Results may rely on rates and rules that change over time, so verify against official sources (IRAS, CPF Board, HDB, MAS) or consult a licensed financial adviser before making decisions.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).