Insurance Planning

Life Insurance Needs Calculator

Determine exactly how much term life insurance coverage you need to secure your family's financial future using the proven DIME method.

Your Obligations & Liabilities
What would your family need to pay off if you were no longer around?

Credit cards, car loans, personal loans.

Remaining balance on your home loan.

Estimated college/university funds for your children.

Income Replacement
Current Assets

Liquid assets (FDs, Mutual Funds, Savings).

Any term plans or employer-provided coverage.

Recommended Coverage

Additional Insurance Needed

₹2,15,00,000

The DIME Method for Life Insurance

The DIME method is a straightforward formula used by financial advisors to calculate life insurance needs. It stands for:

  • Debt: Paying off your final expenses and any personal loans.
  • Income: Replacing your income for a specified number of years (usually until your youngest child graduates or your spouse retires).
  • Mortgage: Clearing the remaining balance on your home loan.
  • Education: Securing funds for your children's college education.

Intelligence Insight: Never mix insurance with investment. Avoid expensive endowment policies or ULIPs. Instead, buy a pure Term Insurance plan for your calculated coverage amount, and invest the difference in Mutual Funds.