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What is the DIME Method?
DIME stands for Debt + Income + Mortgage + Education — the four things your family would need money for if you were no longer around. Instead of guessing at a coverage number, DIME adds up your actual financial obligations to give you a personalized recommendation. Financial planners consider it the gold standard for calculating life insurance needs.
👤 About You
Used to calculate years of income replacement
When you plan to stop working
📊 Your family would need 30 years of income replacement
💰 Income Replacement (I)
$75,000
Your total yearly earnings — this is the income your family would lose
🏠 Mortgage Balance (M)
$280,000
How much you still owe on your home — so your family can stay in the house
📋 Debts & Final Expenses (D)
Total Debts: $60,000▼ Expand to edit individually
🎓 Education Costs (E)
Children who would need education funding
$25,000
Average U.S. public university: ~$25,000/yr — private: ~$55,000/yr
Typically 4 years for a bachelor's degree
🎓 Total education fund needed: $200,000 (2 children x $25,000/yr x 4 years)
🛡 What You Already Have (subtract from total)
$0
Employer group coverage + any personal policies you already own
$0
Emergency funds, brokerage accounts — don't count retirement accounts (401k, IRA)
Your Recommended Coverage
$2,590,000
DIME Breakdown
Average coverage for age 35
$350,000
You need more than average
+$2,240,000
📖 Next Steps — Learn More
Now that you know your number, explore our guides to find the right policy type and best rates:
Need auto insurance? Compare rates at Car Cover Guide. Need home insurance? Compare coverage at Home Insure Guide. Love free contests? Enter sweepstakes at Win Big Daily. Want product deals? Browse discounts at Deal Drop Today. Want free cash? See bank bonuses at Bonus Bank Daily. Students: find free scholarships at Spot Scholarships.