Insurance adequacy
This section of the app helps assess your insurance needs based on your current financial situation. Your needs are broken down into three main sections of insurance planning—hospitalisation coverage, income protection, and accident insurance.
It takes into account your current insurance coverage and presents your shortfall, if any. It is recommended that you start in the order of hospitalisation, then income protection before checking out the accident section.
Hospitalisation insurance adequacy 
Complete a short questionnaire and get your hospitalisation needs assessment report here.
If you have any existing insurance policies, please input that data by syncing your insurance accounts, or input the data manually and the app will do the rest.
Based on your input, you will see your existing coverage under Current. Switch to view recommended hospitalisation policies under the Preferred tab. These are based on the results of your assessment.
Income protection insurance adequacy
Complete a short questionnaire and get your needs assessment report here.
We know that it can be taxing to calculate your expenses and add up your current insurance coverage, so we automated that part—simply “Tap to auto-fill data”.
If you have any existing insurance policies, please input that data by syncing your insurance accounts, or input the data manually and the app will do the rest.
Based on your input, you will see your existing coverage under Current. View recommended term and whole life insurance policies under Preferred.
How are my income protection needs calculated?
Life
A sum to cover your annual household expenses for 10 years, or for the period you have indicated. If you have children, the education fund required is also added into this sum.
Existing savings and investments are taken into account.
Disability (Total permanent disability)
A sum to cover 10 years of annual household expenses in the event of disability.
Critical illness
A sum to cover 5 years of current annual income in the event of critical illness.
Early critical illness
A sum to cover 2 years of current annual income in the event of early stage critical illness.
Accident insurance adequacy
Accident insurance covers mainly two parts. First, medical expenses incurred by injuries caused by accidents and second, provides a lump sum payout should there be an accidental disability or death.
As your hospitalisation insurance covers medical expenses resulting from accidents or illnesses, an accident policy would be useful only for minor injuries that do not require hospitalisation. If you have coverage from your workplace for GP and Specialist costs, it is highly unnecessary to get coverage for this as you cannot reimburse the same medical bills twice.
Lump sum payout for accident policies will also be paid out on top of your regular life insurance if the death or disability is a result of accidents.
View a short video here on how you can use this section to assess your insurance needs and review your current portfolio.
