Why can't this quote a premium?

Premiums depend on age, health, smoking status, term length and the insurer's underwriting — that requires an application. This tool answers the more important first question: how much coverage to ask for.

What about car, home or boat insurance?

Those premiums are set by carrier rating models (driving record, location, vehicle, claims history) and can't be meaningfully estimated offline — get quotes from carriers or an independent agent instead.

Life Insurance Calculator

Work out how much life insurance coverage your family actually needs with the DIME method.

The DIME Method

Debt (non-mortgage: cards, loans, final expenses)$

Annual Income to Replace$For How Many Years

Mortgage Balance$Education Costs (kids' college, etc.)$

Savings & Investments$Existing Life Insurance$

Suggested Coverage

$1,025,000

DIME total minus savings & existing coverage

D — Debt$25,000

I — Income replacement$700,000

M — Mortgage$250,000

E — Education$100,000

Total need$1,075,000

Minus savings / coverage-$50,000

Quick rule-of-thumb alternative: 10–12× annual income ($700,000–$840,000).

DISCLAIMER: This estimates how much coverage your family might need — it cannot quote premiums, which depend on age, health, term length and insurer underwriting. This is educational only, not insurance or financial advice; talk to a licensed agent or fee-only advisor before buying a policy.

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What Is the Life Insurance Calculator?

The Life Insurance Calculator estimates how much coverage your family would need using the DIME method — Debt, Income replacement, Mortgage and Education — minus savings and coverage you already have. It also shows the common 10–12× income rule of thumb for comparison. Everything is calculated privately in your browser.

How It Works

Enter your debts, the income you'd want replaced and for how long, your mortgage balance, future education costs, and existing savings/coverage. The suggested coverage updates instantly with a full breakdown.

When to Use It

Use it before shopping for term life insurance so you buy the right amount — most people are either uninsured or over-sold.

Frequently Asked Questions

Why can't this quote a premium?: Premiums depend on age, health, smoking status, term length and the insurer's underwriting — that requires an application. This tool answers the more important first question: how much coverage to ask for.
What about car, home or boat insurance?: Those premiums are set by carrier rating models (driving record, location, vehicle, claims history) and can't be meaningfully estimated offline — get quotes from carriers or an independent agent instead.

Found an issue? Send Feedback. See our data sources and update policy for tools that depend on changing information.