Life Insurance Assessment

How much life insurance do you really need?

Life Insurance can be a tough topic to discuss and it can be even more difficult to figure out how much coverage is right for you. There are a variety of ways to determine the amount of life insurance you should have to ensure you’re protected in the event of a tragedy. The problem is, most of these methods are difficult which makes it hard for the average person to determine an accurate answer. Luckily there’s the D.I.M.E. Method. D.I.M.E. stands for Debt, Income, Mortgage, and Education.

Debt Outstanding
If something were to happen tomorrow, how much debt would be left behind? If you don't currently have life insurance, all of your debt becomes your family's responsibility. Add up your total outstanding debt and don't forget to include funeral expenses as well.
Income
A great life insurance policy should provide income for your family until they will become stable. To calculate the amount, multiply the approximate number of years until your family would be financially sound by your annual income. Enter that amount.
Mortgage
Your mortgage is another big debt that can cause problems if passed on to unsuspecting loved ones. But don't worry. Life Insurance can cover the amount outstanding. Enter the amount you still owe on your mortgage.
Education Expenses
Do you have children that are planning on attending college? The average cost of a 4 year degree including tuition, room and board, and books is $100,000. Enter the number of children you plan on sending to college.
Total Insurance Needed

If you would like for an agent to contact you about life insurance based on your calculations, please fill out your information below and we will contact you shortly.

Your Name*
Your Email*
Your Phone*