Insurance Needs Calculator
Calculate your life insurance coverage needs based on income, debts, expenses, and family situation. Determine the right protection for your loved ones.
Step 1: Personal Details
Understanding Insurance Needs
Life insurance should cover income replacement for your family, outstanding debts, future expenses like education, and final expenses. The more dependents you have, the higher your coverage should be.
Step 2: Financial Details
About Life Insurance
Term life insurance provides coverage for a specific period. Whole life insurance covers your entire life and builds cash value. The right choice depends on your needs and budget.
Insurance Needs Analysis
Recommended Life Insurance Coverage
Insurance Type Comparison
| Insurance Type | Coverage Period | Recommended Amount | Monthly Premium |
|---|
Coverage Needs Breakdown
Insurance Needs Formula
Coverage = (Income × Years) + Debt + Expenses – Existing Coverage
This DIME formula (Debt, Income, Mortgage, Education) calculates your total life insurance needs by summing all financial obligations your family would face.
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