Financial Needs Analysis Calculator
1) How much is your monthly income?
Eg : Basic Salary
2) How much do you spend (on yourself and your family) every month?
E.G: insurance premium, electricity & water bills, food, petrol, shopping and others
3) How much outstanding debt do you currently have?
Eg : housing loan, car loan, credit card and others
4) How much life insurance coverage do you currently have?
E.g: insurance or takaful amount that you will receive if you pass away
5) How many years does your family need to be supported in the event that you pass away?
-Legacy Planning to support your dependent or your loved ones in the event that you pass away. If you pass away, you may want to ensure that you leave behind living fund / education fund and retirement fund to get your family through the next few years (for example 10 years).
6) How much cancer/ heart attack / coma / stroke sum assured that you currently have?
E.g insurance or takaful amount that you will receive if you are diagnosed with critical illnesses.
7) How much income replacement do you need in the event of critical illness?
E,g :Critical illness coverage will ensure you and your loved ones are protected from the financial impact of critical illness. You may need to be protected against the unexpected with certain amount of your income (for example 100% of your annual income for the next 5 to 10 years).
8) How much is your existing hospitalization / medical card yearly coverage?
E.g: medical insurance or takaful coverage that you are entitled to if you are hospitalised / admit to the hospital.
9) How much is your desired hospitalization yearly coverage?
Hospitalization coverage is meant to support your hospital bill if you are admitted to hospital. You may need yearly limit of (for example starting from RM 1,380,000 yearly limit).
RM
Month
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Yearly
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Month
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Yearly
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RM
years (must be 3 years or more)
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% of anunal income
years (must be 3 years or more)
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per year
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per year
Your Fund Allocation is
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per year
Your estimated shortfall insurance coverage for Death/Total Permanent Disability is
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Your estimated shortfall insurance coverage for Critical Illness is
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Your estimated shortfall insurance coverage for Hospitalization Coverage
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Note: Your estimated shortfall insurance coverage for Critical Illness is meant to be served as income replacement. If you have no / insufficient coverage for cost of treatment, please consider getting hospitalization insurance.