Life Insurance Need Calculator (DIME Method)
Calculate how much life insurance you actually need using the DIME formula — Debt, Income replacement, Mortgage payoff, and Education costs.
Coverage Needed (net of existing)
$2,115,000
Coverage Needed (net of existing)
$2,115,000
D — Debt Payoff
$25,000
I — Income Replacement
$1,700,000
M — Mortgage Payoff
$320,000
E — Education Costs
$120,000
Total DIME Need
$2,165,000
Diagnostic
Your number: $2,115,000.
Compare this against benchmarks to see where you stand.
See the full pictureCoach Insight
Life Insurance Need Calculator (DIME Method) helps users make a investing & retirement decision with clearer numbers, assumptions, and next actions.
Frequently Asked Questions
Everything you need to know.
Related Calculators
Net Worth Calculator
Investing & Retirement
Add up what you own and subtract what you owe to see your net worth.
Retirement Number Calculator
Investing & Retirement
Calculate how much you need to retire and how close you are.
FIRE Number Calculator
Investing & Retirement
Calculate the nest egg you need to retire early and live off investments.
Why This Matters
Life Insurance Need Calculator (DIME Method) helps users make a investing & retirement decision with clearer numbers, assumptions, and next actions.
How to Use It
- 1Enter your numbers in the input panel.
- 2Review the live results and interpretation on the right.
- 3Use the diagnostic outputs to compare options or plan the next step.
- 4Use the related links below if you want to move from analysis to action.
Find the best account for this goal
Money Map matches your numbers to the strongest available accounts in 90 seconds.
Ready to take the next step?
Compare rates, run Money Map, or explore the full SwitchWize toolkit.