Life Insurance Needs & Recommendation Estimator

Determine the exact term life or permanent death benefit required to replace income, pay off mortgage debt, and fund education.

Annual Gross Household Income$90,000

Income Replacement (Years)

Mortgage & Other Debts

Recommended Death Benefit

$1,180,000

Recommended 20 or 30-year term policy limit

Income Replacement:$900,000

Mortgage & Liabilities:$280,000

Calculation Methodology

Uses the DIME formula (Debt, Income replacement, Mortgage balance, and Education funding) to establish complete financial security.

A rule of thumb is 10 to 12 times annual gross income for primary earners with dependents.
Term life insurance lock-in rates are significantly more affordable when purchased before age 40.
Consider laddering 20-year and 30-year term policies to match evolving mortgage amortization.