Life Insurance Needs Calculator
Estimate term life coverage using the DIME method — Debt, Income, Mortgage, Education.
Every calculation runs locally in your browser. DIME is a rule-of-thumb framework, not a substitute for a licensed insurance advisor's full needs analysis. Not financial advice.
Additional coverage to consider
$765,000
Total need before existing coverage
$865,000
For informational and educational purposes only — not financial, investment, or tax advice, and not a substitute for consulting a qualified professional about your specific situation. TrueMeasureKit is not liable for decisions made based on these results. See our Terms of Service.
What each letter of DIME covers
Debt clears everything except the mortgage so survivors don't inherit it. Income replaces a chosen number of years of your earnings — long enough to cover dependents until they're financially independent, commonly until the youngest child finishes school. Mortgage pays off the home outright, removing the largest fixed monthly obligation. Education funds future tuition. Existing coverage and savings are then subtracted, since a policy only needs to cover the gap, not duplicate what's already in place.
Frequently asked questions
What's the DIME method this calculator uses?
A coverage estimation framework covering four categories: Debt (non-mortgage debts to clear), Income (years of income replacement for dependents), Mortgage (remaining balance to pay off), and Education (future costs like college for children).
Does this tell me whether I need term or whole life insurance?
No — it estimates how much coverage you'd need, not which policy type to buy. Term life (coverage for a fixed period) and whole life (permanent coverage with a cash-value component) serve different goals; that choice is worth discussing with a licensed insurance advisor.