D — Debts. Add up everything you owe except your mortgage: credit cards, lines of credit, car loans, student loans, personal loans. The goal is for life insurance to clear these completely so they don't become your spouse's problem.

I — Income. Multiply your annual income by the number of years your family would need it replaced. A common rule of thumb is "until the youngest kid is independent." If your youngest is 5, that's roughly 18 years; if there are no kids, often 10 years is enough to give a partner time to adjust.

M — Mortgage. The remaining balance on your home loan. Insurance proceeds let your spouse decide whether to pay it off, downsize, or stay in the home — instead of the bank making that decision for them.

E — Education. The cost of getting each child through post-secondary. In BC, a 4-year undergraduate program costs roughly $80,000–$100,000 in tuition + living per child. Trade schools are less; private institutions and out-of-province programs can be more.

Subtract any existing coverage you already have (group life from work, an existing personal policy) and what's left is your estimated coverage gap.

The DIME formula is intentionally simple. A real planning conversation also factors in: final expenses, business or partnership obligations, gifts to charity, future tax liability on registered accounts, and the desired comfort margin for your spouse. We do all that in a free 15-minute call.