Coverage calculator
Enter round numbers. Nothing you type leaves your browser.
The DIME method, explained
D is for debt
Car loans, student loans, credit cards, plus final expenses.
I is for income
Your yearly income times the years your family would need it.
M is for mortgage
The balance left on your home, so your family can stay put.
E is for education
What you'd like to set aside for each child's college.
How long should your term be?
Pick a term that lasts until your biggest obligations end: typically until your youngest child is out of school and your mortgage is paid off. Many parents choose 20 or 30 years. If you're unsure, a slightly longer term costs a little more but avoids a gap later.
Frequently asked questions
Is 10 times my income enough?
It's a reasonable starting point, but it can be too much or too little. A family with a large mortgage and young kids may need more; someone with savings and no dependents may need less.
Should I count my work life insurance?
You can, but coverage through work usually ends if you leave the job, so many people buy their own policy to cover the full need.
Does a stay-at-home parent need coverage?
Usually, yes. Replacing childcare, household work and transportation can cost tens of thousands of dollars a year.
This calculator is for education, not financial advice.
Ready to see what coverage would cost you?
Get my free quote