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Insurance
Critical Illness Cover Calculator
Determine adequate lump-sum coverage to replace income and cover medical care during prolonged illness recovery.
Inputs
Annual take-home pay
Target 2 - 3 years
Specialist treatment / rehab
Results
Recommended lump-sum critical illness cover
—
Income replacement portion—
Specialist medical costs—
Existing savings offset—
Defense timeline—
Recommended Cover = (Annual Income × Recovery Years) + Extra Out-of-Pocket Costs − Existing Savings.
How this calculator works
Calculates recommended lump-sum critical illness insurance benefit required to replace lost income, pay out-of-pocket medical bills, and support recovery living costs.
Formula
Benefit Need = (Annual Income × 2 Years Recovery) + Maximum Medical Out-of-Pocket + Outstanding Liabilities + Specialized Treatment Expenses
Worked Example
$60,000 annual income (2-year recovery = $120,000) + $10,000 health insurance out-of-pocket max + $15,000 specialized travel/caregiver costs = $145,000 total policy benefit recommendation.
Assumptions
- Average critical illness recovery requires 18 to 24 months away from full-time employment.
- Primary health insurance pays standard hospitalization bills.
Limitations
- Specific covered medical diagnoses, survival periods, and pre-existing condition exclusions depend on individual insurance policy terms.
Disclaimer: Educational estimate only. Policy terms vary by country. See our Disclaimer.