What is the DIME method for life insurance?

DIME stands for Debt, Income, Mortgage, and Education. You add those up, then subtract existing coverage and savings to estimate how much life insurance you may need.

Is 10 times my income enough life insurance?

It's a common shortcut, but it ignores your debts, mortgage, kids, and savings. DIME gives a more personal estimate.

Term or whole life — which do I need?

Term covers a set number of years and usually costs less. Permanent (like whole life) lasts for life and builds cash value but costs more. An agent can help you compare.

Should I count my life insurance from work?

You can, but job-based coverage often ends if you leave or lose your job, so many people don't rely on it alone.

Do I need life insurance if I don't have kids?

Maybe. If someone depends on your income, shares a mortgage, or would pay your debts or final expenses, coverage may still make sense.

DIME CALCULATOR

How Much Life Insurance Do You Need?

Debt. Income. Mortgage. Education. Four numbers. One clear answer.

Debt

Income

Mortgage

Education

Subtract

D — Debt & Final Expenses

Debts besides your mortgage

Funeral & final expenses

What's the DIME Method?

Then subtract the coverage and savings you already have.

Debt

Pay off what you owe so it doesn't land on your family.

Income

Replace your paycheck for the years they'd need it.

Mortgage

Keep the house. Pay off the home loan.

Education

Fund your kids' school or training.

Frequently Asked Questions

How we make money: State Insurance Today is a free, independent comparison and referral service. We are not an insurance company. When you request quotes or call a number on this site, we may be paid by licensed insurance agents, agencies, or carriers for connecting you with them, including per lead or per call. This may affect which partners you're connected with, but it never changes the price you pay. We don't compare every company or plan. Our tools are for education only and are not quotes or offers of coverage.

Licensing: State Insurance Today is operated by [LEGAL BUSINESS NAME], [CITY, STATE]. Insurance quotes and advice are provided by licensed agents of [AGENCY NAME / PARTNER AGENCIES], licensed in [STATES] (NPN [NPN]). Coverage subject to underwriting and policy terms. Not available in all states.