How much life insurance do I need?

The DIME method — Debt, Income, Mortgage, Education — the coverage formula insurance agents price behind a consult, computed free in 20 seconds.

Outstanding debts ($)

Annual income to replace ($)

Years of income replacement

Remaining mortgage ($)

Children's education cost ($)

Existing coverage ($)

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Total need (gross)

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Need minus existing coverage

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Income replacement portion

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One-rule-of-thumb sanity: 10x income

What is the DIME method?

Add D (debts) + I (annual income × years to replace) + M (mortgage) + E (education), then subtract coverage you already have. It's the standard rule-of-thumb agents use to size term policies.

Why 20 years of income?

Enough to raise a child to independence or let a spouse re-enter work. Some use 15–25; choose the horizon that matches your family situation and run it again as life changes.

Does the income portion need investing math?

Ideally the payout is invested and earns — $1.6M at 4% yields $64k/yr forever, not 20 years. DIME is deliberately conservative; that's why it's a rule of thumb, not a DCF.

Is this advice?

No — a planning estimate. Talk to a licensed advisor for underwriting specifics; health and policy type change the premium and the right amount.