Life Insurance Needs Calculator (DIME)

A DIME-based estimate of how much life insurance you actually need.

Instant results Private — runs in your browser Updated January 1970

Inputs

$
$
$
$
$
$
Recommended coverage
$1,130,000.00
Income × 10 yrs
$800,000.00
Mortgage
$250,000.00
Other debts
$30,000.00
Education
$100,000.00
Subtotal (DIME)
$1,180,000.00
Less existing coverage
− $0.00
Less liquid assets
− $50,000.00

How it works

DIME method: Debt + Income replacement (income × years) + Mortgage + Education, minus existing coverage and liquid assets.

Frequently asked questions

Is this a quote?

No — these are educational ballpark estimates. For an actual quote, talk to a licensed agent or run a comparison platform.

Term or whole life?

Term is usually best for most families — cheap, simple, and right-sized to the working years. Whole life is far pricier and suits niche estate planning.

How much coverage do I need?

A common rule is 10–12× annual income, but DIME (Debts, Income, Mortgage, Education) gives a sharper number.

What's an HSA?

A Health Savings Account paired with a high-deductible plan — triple tax-advantaged for qualified medical expenses.

What's the elimination period on disability?

The waiting time before benefits start. Longer waits lower premiums.

Related calculators

View all insurance →
Term Life Cost Estimator
Ballpark premium for term life coverage.
HSA Calculator
HSA tax savings and retirement growth.
Disability Insurance
Coverage to replace lost income.
Long-Term Care Costs
Project nursing home and home-care costs.

Results are estimates for educational purposes only and are not financial advice. Verify with a qualified professional before making decisions.

Last updated January 1970