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Family Health Cover Requirement Calculator

Work out family health cover requirement instantly with clear inputs, formula shown and shareable results.

About Family Health Cover Requirement Calculator

Health cover should reflect local treatment costs and family size, since a floater policy is shared across members. Metropolitan hospitals cost substantially more, which is why the same family needs a larger sum insured in a large city.

Formula

Cover requirement

Recommended = typical cost × city factor × [1 + 0.35 × (members - 1)]

Worked example

With the default values below, Family Health Cover Requirement Calculator returns Recommended Sum Insured of $1,537,500.00. Change any input above and every figure here is recalculated in your browser.

Inputs used

Family Members To Coveraccepts 1–10
4
Typical Hospitalisation Costminimum 0
500,000
City Cost Levelone of Metro, Tier two city, Smaller town
Metro
Existing Coverminimum 0
500,000

Results

Recommended Sum Insured
$1,537,500.00
Additional Cover Needed
$1,037,500.00
Cover Per Family Member
$384,375.00
Existing Cover As Share Of The Recommendation
32.520%

Step by step

  1. 1Values used
  2. 2Cover requirement
  3. 3Recommended Sum Insured= 1,537,500.00
  4. 4Additional Cover Needed= 1,037,500.00
  5. 5Cover Per Family Member= 384,375.00
  6. 6Existing Cover As Share Of The Recommendation= 32.520

Assumptions and limits

  • The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax or compounding frequency into account.
  • Figures are rounded for display to 3 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Figures are estimates for planning only. Prices, returns, inflation and personal circumstances all change. This is not financial or tax advice — speak to a qualified adviser before making decisions.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Figures are estimates for planning only. Prices, returns, inflation and personal circumstances all change. This is not financial or tax advice — speak to a qualified adviser before making decisions.

Frequently Asked Questions

Is a floater policy enough?

It is efficient until two members claim in the same year, which is why a top-up policy is often added.

Why does a metro need more cover?

Room rent and procedure costs at metropolitan hospitals can be half again as much as in smaller cities.

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