Life Insurance Needs Calculator

Uses the DIME method (Debt, Income, Mortgage, Education) — a widely accepted framework for
estimating life insurance coverage. This produces a baseline estimate; individual needs vary significantly.

Annual Income ($)
Years Income Needed
Mortgage Balance ($)
Other Debts ($)
Children / Dependents
Education Cost Per Child ($)
Final Expenses (funeral, etc.) ($)
Existing Assets & Coverage ($)

Calculate Coverage Need

Estimated Coverage Need

This tool is for informational purposes only and does not constitute financial or insurance advice.
Consult a professional licensed insurance agent or financial advisor for personalized coverage recommendations.

DIME Method Components

Component	Covers
D — Debt	All debts except mortgage (credit cards, student loans, car loans)
I — Income	Annual income × years dependents need support
M — Mortgage	Outstanding mortgage balance to pay off the home
E — Education	Estimated college/education costs for each child

Add final expenses (typically $10,000–$25,000) and subtract existing assets, savings, and any current coverage.

References & Methodology

LIMRA International — Life Insurance Ownership in Focus (2022 U.S. study) — Industry benchmark for coverage gap analysis and household insurance needs assessment.
American Council of Life Insurers (ACLI) — Life Insurers Fact Book (2023) — Standard reference for coverage levels, replacement ratios, and benefit delivery data.
National Association of Insurance Commissioners (NAIC) — Consumer guidance on life insurance types, needs analysis frameworks, and DIME methodology overview.

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