Life insurance needs calculator
Most families need life insurance roughly equal to their debts, plus several years of income, their mortgage and future education costs, minus existing coverage. This free calculator applies the DIME method to estimate how much coverage you need in seconds — no signup.
Recommended coverage
$935,000
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This is an estimate. For exact pricing, compare real quotes from licensed providers like Allstate, SmartFinancial, Profitise, Ethos.
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How this estimate is calculated
We use the DIME method — Debt, Income, Mortgage, Education. Recommended coverage = non-mortgage debts + (annual income × years to replace) + remaining mortgage + future education costs + final expenses, minus existing life insurance and earmarked savings. We also show the common 10–12× income rule of thumb as a cross-check.
See our full methodology for assumptions, limits and the 2026 data used.
Sources
- Insurance Information Institute — How much life insurance do I need? (DIME method explainer) (2025)
- NerdWallet — How Much Life Insurance Do I Need? (DIME method) (2025)
- Written by
- Colson — Founder & insurance-data researcher, ColsonSuperApps LLC
- Reviewed
- Figures checked against the cited sources
- Last updated
- June 13, 2026
- Standards
- Editorial policy
This is an estimate based on published average-rate data for informational purposes only — not a quote, and not insurance, legal or financial advice. Your actual price depends on the carrier and underwriting. Get a real quote for exact pricing.