Our Mission
Most people approach life insurance in one of two ways: they either ignore it entirely, or they rely on a salesperson whose compensation depends on what they buy. Neither approach serves families well. LifeInsuranceCalc.org was built to fix that — to give anyone a fast, accurate, CFP-reviewed estimate of their coverage needs with no data collected and no strings attached.
We use the DIME method — the same framework taught in CFP Board coursework and used by fee-only financial planners nationwide — because it produces coverage estimates based on your actual financial obligations, not a generic multiplier.
Who We Are
Our Methodology
Every calculator on this site uses the DIME method as its primary framework. DIME stands for:
- D — Debts: Total non-mortgage debts (car loans, credit cards, student loans)
- I — Income: Annual income × years until retirement (income replacement)
- M — Mortgage: Remaining mortgage balance
- E — Education: Estimated college costs per child
(Annual Income × Years to Retirement)
+ Mortgage Balance
+ Other Debts
+ (College Cost × Number of Children)
− Existing Savings
− Existing Life Insurance Coverage
This formula is recommended by the Society of Financial Service Professionals and is consistent with CFP Board curriculum for insurance needs analysis. It is reviewed annually by our editorial team to ensure alignment with current financial planning standards.
Data Sources
The statistics, benchmarks, and premium ranges cited throughout this site are sourced from the following authoritative sources:
- LIMRA 2024 Insurance Barometer Study — Annual survey of US life insurance ownership, coverage gaps, and consumer attitudes. Used for average policy size and ownership rate statistics.
- Insurance Information Institute (III) — Industry data on US life insurance coverage, premiums, and claims. Used for benchmark statistics and market context.
- National Association of Insurance Commissioners (NAIC) — Regulatory data on insurance product categories, health classification standards, and state-level insurance requirements.
- CFP Board — Standards for the DIME methodology and life insurance needs analysis frameworks used in our calculators.
- US Bureau of Labor Statistics — Income data and wage benchmarks used in coverage example calculations.
Premium estimate ranges shown in our calculators and content are based on publicly available rate data from major US term life insurers and are updated annually. They represent typical market ranges for standard health ratings and should not be interpreted as quotes from any specific insurer.
Editorial Independence
LifeInsuranceCalc.org is an independent educational website. We are not affiliated with any insurance company, brokerage, or financial institution. We do not accept compensation from insurers for calculator results or content. Our revenue comes from Google AdSense display advertising, which operates independently of our editorial content.
No data you enter into any calculator on this site is transmitted to us, stored on our servers, or shared with any third party. All calculations run entirely in your browser using JavaScript. We have no access to your inputs or results.
Review Schedule
All calculators and content on this site are reviewed at least annually by our CFP-credentialed editorial team. The most recent review was conducted in April 2026. Reviews assess the accuracy of the DIME formula implementation, the currency of benchmark statistics, and the relevance of premium estimate ranges to current market conditions.