Life Insurance Calculator

This calculator uses the DIME framework as a starting point: Debt, Income replacement, Mortgage, and Education. Enter the amounts that apply to your household. The result is an estimate of potential coverage needs, not a quote, approval decision, or recommendation to purchase a specific policy.

What to include

• Debt: balances another person may need to repay, plus final expenses.
• Income: annual income multiplied by the number of years your household may need support.
• Mortgage: the remaining mortgage balance or other housing obligation.
• Education: an estimate of future education costs you want to fund.

Example

If a household enters $25,000 of debt, $300,000 of income replacement, a $225,000 mortgage, and $50,000 for education, the starting estimate is $600,000. Existing life insurance and liquid assets intended for these needs may reduce the amount of additional coverage to consider.

Limits and next steps

The estimate does not account for every tax, inflation, investment, benefit, caregiving, business, estate, or eligibility consideration. Premiums and available coverage depend on age, health, tobacco or nicotine use, occupation, location, product, and insurer underwriting. Review the result periodically and compare it with your budget and existing resources. A licensed insurance professional, financial professional, attorney, or tax professional can help with circumstances within their area of expertise.

Data handling

Do not enter names, Social Security numbers, medical details, account numbers, or other sensitive personal information. Use rounded financial amounts. Calculator entries are for estimation; review the site’s Privacy Policy for information about website data practices.