DIME Method Calculator
How Much Life Insurance Does Your Family Actually Need?
Use the DIME Method — the gold standard for calculating your coverage gap.
Most people guess. The DIME Method gives you a number backed by your real life — debts, income, mortgage, and expenses combined.
Total Debt (excluding mortgage)
Add up everything you owe — credit cards, car loans, student loans, medical bills, and personal loans. Your mortgage is handled separately below.
Include credit cards, car loans, student loans, medical bills, and any personal loans. NOT your mortgage — that's covered separately.
Annual Income × Years to Replace
How many years would your family need your income replaced? Until kids are grown, until retirement, etc.
Your annual gross income before taxes.
Years to Replace
Default: 10 years
Income Component (I)
$0
Remaining Mortgage Balance
The amount left on your mortgage keeps the roof over your family's head — it should be fully covered.
The amount left on your mortgage. If you rent, enter $0.
Future Expenses
Big costs your family will face — college, childcare, and the cost of saying goodbye.
Think college tuition, childcare costs, final expenses (burial ~$10–15k), and any other large future obligations.
Your DIME Coverage Number
Debts
$0
Income
$0
Mortgage
$0
Expenses
$0
DIME Total = D + I + M + E
$0
Estimated total life insurance need
Include employer-provided coverage, individual policies, etc.
Free — Always
Ready to close the gap?
Ashley reviews your full picture — income, debts, existing policies — and finds the right coverage. Free consultation, no pressure.
Book a Free Strategy CallWhat is the DIME Method?
The DIME Method is the most comprehensive way to calculate your life insurance need — used by financial planners and insurance professionals because it covers every major financial obligation your family would face.
Debts
All outstanding non-mortgage debt — credit cards, car loans, student loans, and medical bills. These don't disappear when you do. Your family shouldn't inherit them.
Income
Your annual income multiplied by the years your family needs it replaced. It bridges the gap between now and when your family is financially self-sufficient — typically until retirement or your youngest child is grown.
Mortgage
Your remaining mortgage balance. Home stability is everything when a family is grieving. Covering the mortgage means your spouse and kids keep the house — without financial pressure to sell or downsize.
Expenses
Future big-ticket costs: college tuition, childcare, and final expenses like burial ($10–15k). These are the costs you've been planning for — your coverage should plan for them too.
Related Reading
Life Insurance at Every Life Stage
How your coverage needs change as your life does.
Term vs. Permanent Life Insurance
Why it's like renting vs. owning a home.
Life Insurance Calculator
Explore the cost of waiting, coverage gaps, and more.
Life Insurance Services
Browse Ashley's full life insurance guide and services.