Investing & Retirement
Life Insurance Need Calculator (DIME Method)
Calculate how much life insurance you actually need using the DIME formula — Debt, Income replacement, Mortgage payoff, and Education costs.
Life Insurance Need (DIME Method) Details
$85,000
$
20
$320,000
$
$25,000
$
2
$60,000
$
$0
$
$50,000
$
Results
LiveCoverage Needed (net of existing)
$2,115,000
D — Debt Payoff$25,000
I — Income Replacement$1,700,000
M — Mortgage Payoff$320,000
E — Education Costs$120,000
D — Debt Payoff$25,000
I — Income Replacement$1,700,000
M — Mortgage Payoff$320,000
How to use
Change one assumption at a time to see what moves the answer most.
Coach Insight
Life Insurance Need Calculator (DIME Method) helps users make a investing & retirement decision with clearer numbers, assumptions, and next actions.
Frequently Asked Questions
Everything you need to know.
Related Calculators
Net Worth Calculator
Investing & Retirement
Add up what you own and subtract what you owe to see your net worth.
401(k) vs Roth 401(k) Calculator
Investing & Retirement
Traditional 401(k) saves tax now. Roth saves tax later. Find which puts more money in your pocket at retirement.
FIRE Number Calculator
Investing & Retirement
Calculate the nest egg you need to retire early and live off investments.
Investment Fee Impact Calculator
Investing & Retirement
See how much fees are eroding your long-term investment returns.
Why This Matters
Life Insurance Need Calculator (DIME Method) helps users make a investing & retirement decision with clearer numbers, assumptions, and next actions.
How to Use It
- 1Enter your numbers in the input panel.
- 2Review the live results and interpretation on the right.
- 3Use the diagnostic outputs to compare options or plan the next step.
- 4Use the related links below if you want to move from analysis to action.
🗺️
Run Money Map Not sure where to start?
Money Map finds your biggest gap in 90 seconds — no sign-up required.
Ready to take the next step?
Compare rates, run Money Map, or explore the full SwitchWize toolkit.