Life Insurance Affordability Calculator

Determine a comfortable premium range based on income and the 5% rule of thumb.

Enter your details

Annual gross income

% of income for insurance

Existing annual premiums

Available annual premium budget

$4,000/year

Available monthly budget

$333

Total insurance budget$4,000

Less existing premiums$0

A common guideline is to spend no more than 5% of gross income on all insurance premiums. This shows what room you have left for new life coverage.

Estimate how much life insurance your family needs using the DIME method.

Estimate annual premiums for a level term life policy.

Quantify your lifetime economic value to your family.

Compare total cost of term plus investing vs whole life.