How much life cover do you need?
Income × years + debts + kids − savings → coverage amount
DIME
DIME method: Debts + Income (× years until kids are independent) + Mortgage + Education − savings and liquid assets. Typical recommendation — 10–15× annual income. Term life insurance is 10–30× cheaper than whole-life — don't mix insurance with 'investments'.
Recommended cover
- Income replacement
- 4 800 000 грн
- Cover
- 5 500 000 грн
- ≈ annual incomes
- 11.5×