The Citi Insurance Gap Calculator is for your general reference and information only. It does not have regard to your specific investment objectives, financial situation and particular needs. You should not rely on this calculator to make any decision on whether to purchase an insurance policy. Buying a life insurance is a long term commitment, you should seek advice from a financial adviser before making a commitment to purchase any insurance product. Information generated by the Citi Insurance Gap Calculator shall not constitute nor should it be taken as a substitute for professional advice. The assumptions used in the methodology in this calculator may not apply to you. For financial analysis and advice, please make an appointment with us.
Important notes
The methodology used to derive "Life Protection Required" is from sources we consider to be reasonably reliable including the Life Insurance Association ("LIA") Protection Gap Study 2012 - Singapore.
If you earn more than the average Singaporean in your age group, your life protection figures would have been adjusted to reflect your income. This takes into account the needs of your dependents and your average liabilities in the event of death.
The information and analysis provided by this tool is based on various assumptions, which are subject to change at any time without notice.
Citibank shall not be liable for any loss / damage suffered by you as a result of using this calculator.
Currency used for all amounts shown is the calculator is Singapore Dollars, until otherwise mentioned.
For the calculation purpose, existing education cover / savings is assumed to be equally spread over the number of children specified.
Your Life Protection Required is the amount you need to ensure that your loved ones are well-provided for should anything unfortunate happen to you, taking into account their potential needs to allow them to maintain their current lifestyles.
The gap between the amount that you are currently protected for, and the amount you need.
Total amount you would need after retirement
Monthly savings needed is the amount you need to set aside every month until your retirement to cater to your retirement needs.
The gap between the amount that you currently have saved for retirement (this includes any existing retirement plan / savings) and the amount you need.
Total amount you would need for your child / children's education
Monthly savings needed is the amount you need to set aside every month until your kids enters university to provide financial security for your child / children's education and future
The difference between the amount that you have already saved for your child / children’s education (including any existing education plan) and the amount you need
Total amount you would need to accomplish your desired goal
Monthly savings needed is the amount you need to set aside every month for a defined period in order to accomplish your desired goal
Savings Gap is the difference between the amount that you have already saved for your goal and the amount you need to accomplish your goal
See what you need to protect your loved ones, save for retirement, support your children's education or to fund any other aspirational goals.
