Life Insurance Calculator
Recommended Coverage
$1,250,000
Based on your inputs
Monthly Premium Estimate
$45.75
For 20-year term life
Income Replacement
$1,500,000
20 years of income
Additional Coverage Needed
$1,200,000
After existing coverage
How This Calculator Works
This calculator uses the DIME method (Debt, Income, Mortgage, Education) to determine your life insurance needs:
- Income Replacement: 10-15 times your annual income
- Debt Coverage: Mortgages, loans, credit cards
- Future Expenses: College funds, final expenses
- Existing Coverage: Current life insurance policies
Note: This is an estimate. Actual premiums depend on health, age, and lifestyle.