Life Insurance Needs Calculator
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Recommended Coverage$1,015,000.00
Income Replacement$750,000.00
Debt Payoff$200,000.00
Education Fund$50,000.00
Final Expenses$15,000.00
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Frequently Asked Questions
How much life insurance do I need?
A common rule is 10–12× your annual income. The DIME method is more precise: Debt + Income (years needed × annual income) + Mortgage + Education costs. This calculator uses DIME.
What is term life insurance?
Term life insurance provides coverage for a specific period (10, 20, or 30 years). It pays a death benefit if you die during the term. It's significantly cheaper than whole life and is recommended for most people.
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