Life Insurance Calculator
How much coverage do you actually need? Plug in your numbers.
Your info
Debts and obligations
What you already have
How this calculator works
This calculator uses the DIME method — the same approach financial advisors use to estimate life insurance needs:
- D — Debts: Car loans, student loans, credit cards, and other debts your family would inherit.
- I — Income replacement: The gap between your income and your spouse's income, multiplied by the years until your youngest kid is financially independent (age 22).
- M — Mortgage: Your remaining mortgage balance, so your family can stay in the house.
- E — Education: College savings goal multiplied by number of kids.
We then subtract what you already have (savings, investments, existing life insurance through work) to get your additional coverage need.
The monthly cost estimate uses average rates for healthy, non-smoking males at your age. Your actual rate will depend on your health, the provider, and the specific policy details. Get actual quotes at our top-rated providers.
Disclaimer: This calculator is for educational purposes only. It is not financial advice. Consult a licensed insurance professional for personalized recommendations.
Related: Best Life Insurance for Dads | How Much Life Insurance Do I Need? | New Dad Checklist