Free Educational Tool

How much life insurance might you need?

A quick estimate using the widely-used DIME method — Debt, Income, Mortgage, Education. This is an educational starting point, not a quote or recommendation.

How much life insurance do you actually need?

Most online answers to this question are either too generic ("multiply your income by 10") or too aggressive (driven by sales incentives).

How we approach the number honestly

The honest answer depends on what your dependents would actually need to maintain their standard of living if your income disappeared.

This calculator uses the widely-accepted DIME method — Debt, Income replacement, Mortgage payoff, and Education funding — to produce a credible starting estimate. It builds the number from your actual financial commitments rather than from a rule of thumb. A physician with young children and student loans has very different needs than an executive with grown children and no mortgage.

This is an estimate, not a quote. It doesn't account for employer-provided coverage (which often disappears at job change), Social Security survivor benefits, or your spouse's earning capacity — each of which can meaningfully change the right number.

No information you enter is stored or transmitted. The calculation runs entirely in your browser.

Enter your numbers

Your situation

All estimates. Round figures are fine. Nothing is sent anywhere — this runs entirely in your browser.

Debts to pay off Credit cards, car loans, personal loans (exclude mortgage)

Mortgage balance Remaining balance you'd want paid off

Annual income to replace Your yearly income before tax

Years of income to replace How many years should that income continue?

Education fund Estimated future education costs for children

Final expenses Funeral and end-of-life costs (often $10k–$20k)

Existing savings & assets Liquid savings/investments that could offset the need

Existing life insurance Coverage you already have (e.g., through work)

Estimated coverage to consider

Enter your numbers above to see an estimate.

Debts	$0
Mortgage	$0
Income replacement	$0
Education fund	$0
Final expenses	$0
Less: savings & existing coverage	–$0
Estimated need	$0

This is an educational estimate, not a quote, recommendation, or financial advice. The DIME method is a common rule-of-thumb and does not account for your full financial picture, taxes, inflation, Social Security survivor benefits, a spouse's income, or your specific goals. Your actual coverage need — and the right type of policy — should be determined in a personalized conversation with a licensed agent. No information entered here is collected or transmitted.

Discuss the numbers in a consultation Request a term life quote

About This Method

What is the DIME method?

DIME is a widely-used framework for estimating life insurance needs. It adds up four things your policy might need to cover, then subtracts what you already have:

The DIME method behind this estimate, item by item

D — Debt: Non-mortgage debts your family would otherwise inherit the burden of.

I — Income: Years of your income your household would need to replace to maintain their standard of living.

M — Mortgage: The remaining mortgage balance, so your family can stay in the home.

E — Education: Future education costs for children.

From that total, existing savings and any life insurance you already have are subtracted, since those reduce the gap. It's a solid starting point — but it's a rule of thumb, not a financial plan. The right answer depends on details a calculator can't capture, which is exactly what a no-pressure conversation is for.

Want your real number, not a rule of thumb?

A short conversation accounts for the things this calculator can't — taxes, a spouse's income, Social Security survivor benefits, your goals. Free, no obligation.

Schedule a consultation