Calculate How Much Life Insurance You Need
Determining how much life insurance you need is a crucial step in making sure your loved ones are financially secure if something were to happen to you. A common approach is to estimate the total amount of coverage based on your current financial obligations and future needs. First, use the Income Replacement Calculator below to compute the amount of income you’d need to replace. Next, plug that income number into the DIME formula to get a total estimate of the life insurance you need:
Step 1: Income Replacement Calculator
Step 2: The DIME Formula
This approach looks at four key factors – debt, income, mortgage and education. You calculate the total by adding up your outstanding debts, the income replacement your family would need, the remaining mortgage balance and the cost of future education for your children.
Life Insurance for Pre-existing
health conditions
Life Insurance for Tobacco Users
Other Life Insurance Types:
Term Life Insurance with Return of Premium
Universal Life to age 121
Some insurers offer partial or full return of premium at specified periods – please contact us for a personalized quote.
Do-it- Yourself
“Ethos” as seen on TV!
Life insurance made easy. With Ethos, you can get competitively priced life insurance in as little as 10 minutes. No medical exams needed – just answer a few health questions online. You could get up to $2 million in coverage today. Get your quote and apply here:
Our Trusted Insurance Providers
- AAA Life Insurance Company
- Accendo Insurance Company
- American-Amicable Life Ins Co of TX
- American Memorial Life Insurance Company
- American Equity Investment Life Ins Co
- American Fidelity Assurance Company
- American General Life Insurance Company
- The American Home Life Insurance Company
- American National Insurance Company
- American National Life Ins Company of TX
- American National Life Ins Company of NY
- American Progressive Life & Health of NY
- American United Life Insurance Company
- Americo Financial Life and Annuity Ins.
- Ameritas Life Insurance Corp
- Ameritas Life Insurance Corp (FLX)
- Ameritas Life Insurance Corp of New York
- Assurity Life Insurance Co (Hero Life)
- Assurity Life Insurance Company
- Athene Life Insurance Company of NY
- AuguStar Life Assurance Corporation
- Aurora National Life Assurance Company
- Baltimore Life Insurance Company
- Bankers Fidelity Life Insurance Company
- Banner Life Insurance Company
- Banner Life Insurance Company (Ethos)
- BetterLife
- Boston Mutual Life Insurance Company
- Brighthouse Life Insurance Company
- Brighthouse Life Insurance Company of NY
- Capitol Life Insurance Company
- Trusted Fraternal Life
- Centrian Life Insurance
- Christian Fidelity Life Insurance Company
- CICA Life Insurance Company of America
- Cincinnati Life Insurance Company
- Columbus Life Insurance Company
- Continental Life Ins Co of Brentwood TN
- Encova Life Insurance Company
- Equitable Financial Life Insurance Co
- Family Benefit Life Insurance Company
- Farmers New World Life Insurance Company
- Federal Life Insurance Company (Mutual)
- Fidelity Life Association
- Forethought Life Insurance Company
- GBU Financial Life
- Gerber Life Insurance Company
- Gleaner Life Insurance Society
- Government Personnel Mutual Life Ins Co
- Grange Life Insurance Company
- Great Western Insurance Company
- Guarantee Trust Life Insurance Company
- Guardian Life Insurance Co of America
- Illinois Mutual Life Insurance Company
- Independent Order of Foresters
- John Hancock Life Insurance Company USA
- John Hancock Life Insurance Company NY
- Kentucky Home Life Insurance Company
- Lafayette Life Insurance Company
- Liberty Bankers Life Insurance Company
- Life Insurance Company of the Southwest
- Lincoln National Life Insurance Company
- LifeShield National Insurance Co
- Madison National Life Insurance Company
- Massachusetts Mutual Life Insurance
- Midland National Life Insurance Company
- Minnesota Life Insurance Company
- Mountain Life Insurance Company
- National Benefit Life Insurance Company
- National Catholic Society of Foresters
- Nassau Life Insurance Company
- National Life Insurance Company
- Nationwide Life and Annuity Insurance Co
- Nationwide Life Insurance Company
- National Western Life Insurance Company
- New York Life Insurance Company
- North American Co for Life and Health
- NYLIFE Insurance Company of Arizona
- Occidental Life Ins Co of North Carolina
- Oxford Life Insurance Company
- Pacific Guardian Life Insurance Co
- Pacific Life Insurance Company
- The Paul Revere Life Insurance Company
- Penn Insurance and Annuity Co of NY
- Penn Mutual Life Insurance Company
- Polish Roman Catholic Union of America
- Principal Life Insurance Company
- Principal National Life Insurance Co
- Protective Life and Annuity Insurance Co
- Protective Life Insurance Company
- Provident Life and Accident Assurance
- Pruco Life Insurance Company
- Pruco Life Insurance Co of New Jersey
- Royal Arcanum
- Royal Neighbors of America
- Savings Bank Mutual Life Ins Co of MA
- SBLI USA Life Insurance Co Inc
- Securian Life Insurance Company
- Security Mutual Life Insurance Co of NY
- Security National Life Insurance Company
- Sentinel Security Life Insurance Company
- Sentry Life Insurance Company
- SILAC Insurance Company
- Sons of Norway (Fraternal)
- Standard Life and Accident Insurance Co
- Starmount Life Insurance Co.
- S.USA Life Insurance Company, Inc.
- Symetra Life Insurance Company
- Thrivent Financial for Lutherans
- Tier One Insurance Company
- Transamerica Life Insurance Company
- Trinity Life Insurance Company
- The Union Labor Life Insurance Company
- United Farm Family Life Insurance Co
- United Heritage Life Insurance Company
- United Home Life Insurance Company
- United of Omaha Life Insurance Company
- United States Life Ins in the City of NY
- William Penn Life Insurance Co of NY
- Woman's Life Insurance Society
*The quoting software is powered by industry-leader Compulife® Software Inc. Compulife® makes every effort to ensure the data is accurate and up to date, however, we cannot guarantee its accuracy. If there is any discrepancy between the information provided by Compulife and an official illustration or policy authorized by a life insurance company, the terms and conditions of the actual policy shall take precedence. Please note that the quotes provided do not take into account specific factors such as your actual health status or other individual details. Additionally, each insurance company has unique underwriting guidelines that may impact your final rates.
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Copyright © 2025 LifeInsuranceRateShop.com “All Rights Reserved”
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Shop Term Insurance Rates from over 100 top insurance companies at-a-glance so you can easily identify the best coverage at the lowest price!!
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The DIME Formula
This approach looks at four key factors – debt, income, mortgage and education. You calculate the total by adding up your outstanding debts, the income replacement your family would need, the remaining mortgage balance and the cost of future education for your children.
Universal Life to age 121
Some insurers offer partial or full return of premium at specified periods – please contact us for a personalized quote.
Income Replacement Calculator
Term Life Insurance with Return of Premium
Final Expense Whole Life
Calculate How Much Life Insurance You Need
Determining how much life insurance you need is a crucial step in making sure your loved ones are financially secure if something were to happen to you. A common approach is to estimate the total amount of coverage based on your current financial obligations and future needs. First, use the Income Replacement Calculator below to compute the amount of income you’d need to replace. Next, plug that income number into the DIME formula to get a total estimate of the life insurance you need: