Life & Final Expense Calculators
Calculate the recommended coverage amount for your clients based on their financial needs.
Coverage Estimator
Enter your client's financial details below to estimate their total coverage needs.
Total outstanding debts including credit cards, auto loans, personal loans, etc. (Exclude mortgage).
How much income needs to be replaced and for how many years (typically 10-15 years).
Remaining balance on the primary residence mortgage.
Estimated future education costs for children (typically $100,000 - $150,000 per child).
Any existing life insurance policies or dedicated savings to subtract from the total need.
Suggested Coverage
This figure provides a baseline recommendation. Discuss term vs. whole life options with your client to fit their budget.
The DIME Method
The DIME method is a simple formula used to calculate a client's life insurance needs by adding up four key areas:
- Debt: Paying off outstanding liabilities.
- Income: Replacing the breadwinner's income for a set number of years.
- Mortgage: Clearing the home loan so the family isn't displaced.
- Education: Funding the children's future college expenses.