I’m writing this article from home today, not because Seedly has a work-from-home policy, but because I am down with a cold.

With the COVID-19 virus circulating in Singapore recently, it is natural for people (myself included) to be a little paranoid.

So when I was down with a fever just last night, my first tendency (don’t laugh) was to search up on life insurance policies.

I’m the oldest child in my family, and both my parents have retired. Naturally, I would be worried about their well-being, if I were to die due to an accident or say, the coronavirus.

So without further ado, here’s a quick formula for calculating how much life insurance you need!

TL;DR: Here’s How Much You Need To Be Covered For Life Insurance

In General…

A good estimate would be to get life insurance coverage that is 10-15 times your annual income.

Let’s say