Simply Coverage Life
How much life insurance do you actually need?
Before you argue about term or permanent, work out the number. Four questions — debt, income, mortgage, education — and you have it.
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Three questions
How can we help you?
Step 1: which coverage do you need?
What worries you the most?
How would you like to do this?
Simply Enough
The DIME calculator
Debt, Income, Mortgage and Education. Add the four together and that is the death benefit you need. Type a number or drag the slider — either way the total keeps up.
Simply Explained
Why each of the four is in there
D is for debt. Every consumer debt you carry — credit cards, car loans, personal loans — but not the mortgage. That gets its own line.
I is for income. The rule of thumb is three years. Not because your family needs exactly three years of money, but because they need time. Time to work out what happens next instead of taking the first thing that pays the bills.
M is for mortgage. What it takes to pay the house off. You and your partner bought that house. Losing you should not also mean losing it, and the kids changing schools in the same year.
E is for education. $50,000 set aside per child for college. Three children is $150,000.
Add the four and you have a real number, with a reason behind every part of it. Then the conversation about term or permanent can start from something solid.
Simply Answered
About the calculator
No. It works out how much cover you need. What that costs depends on your age, your health and the kind of policy — that is the next conversation.
Because your family needs time, not just money. Three years is long enough to make decisions properly rather than under pressure.
It usually does the first time. That is the point of running it — most people are carrying a small policy from work and have never added the four up.
Simply Committed
You have the number. Now let's cover it.
Send your DIME result to a licensed agent and pick up from there.