Work out how much life insurance you really need. Enter your income, debts, mortgage, children and education costs, then any cover and savings you already have. The tool runs the DIME method (Debt, Income, Mortgage, Education) and the income-multiple rule, lets you compare both, and shows your coverage gap plus a suggested term length. Exports to Word.
Your gross yearly earnings your family relies on.
DIME uses this; income-multiple uses a multiplier instead.
Common guidance is 10–12× income.
Cover tuition plus living for each child you plan to fund.
Cash, brokerage and other assets that could offset the need.
⚠️ This is an educational estimate only — NOT legal, tax, financial, or insurance advice. It is a transparent calculation from the numbers you enter using two well-known rules of thumb (the DIME method and an income multiple). It does not account for inflation, taxes, Social Security survivor benefits, your full balance sheet, health or insurability. Your actual coverage need and premium depend on underwriting and your personal situation. Consult a licensed insurance agent or fee-only financial advisor before buying or cancelling any policy.