Tool · Protect
Life insurance need calculator
Most people are either underinsured or overpaying for whole-life policies they don't need. The DIME method gets you to the right face value of term in a minute.
The DIME method
Debt + Income (replaced for N years) + Mortgage + Education, minus what you already have.
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Credit cards, car loans, student loans, etc.
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Common rules of thumb: 10 years if kids are out of the house; 15-20 if young kids.
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Roughly $75K-$150K per child for college.
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Include employer-provided group life insurance.
How much you need
Recommended face value
$1,175,000
Of term life insurance, with a level term that matches your years-to-replace.
- Income replacement
- $850,000
- Total need before existing
- $1,225,000
- Existing coverage
- $50,000
- Net gap
- $1,175,000
Get a quote
Term life is cheap when you're young and healthy. These three issue policies instantly (no medical exam for most applicants under 50).