Calculate how much life insurance you need using the DIME method. Compare term vs whole life premiums by age. Free life insurance calculator, no signup.
The DIME method calculates: Debt + Income replacement (10x salary) + Mortgage balance + Education costs. A simpler rule: 10-12x your annual income. Our calculator uses DIME for a more accurate estimate.
Term life covers a set period (10-30 years) at lower cost. Whole life is permanent with a cash value component but costs 5-15x more. For most people, term life is the better financial choice.
A healthy 30-year-old can get $500,000 of 20-year term life insurance for $20-$30/month. Rates increase with age, health conditions, and coverage amount. Our tool shows estimate ranges by age group.
Buy life insurance when you have dependents (spouse, children, aging parents) or significant debt. The younger and healthier you are, the cheaper your premiums. Waiting 10 years can double the cost.
Typically your spouse first, then children as contingent beneficiaries. Consider naming a trust if children are minors. Keep beneficiaries updated after major life events like marriage, divorce, or having children.
Most policies cover all causes of death including illness, accidents, and suicide (after a 2-year contestability period). Exceptions include fraud, illegal activity, or specific exclusions in your policy. Always read your policy terms carefully.