The DIME Method
Apr 19, 2017
The pancreas produce insulin, and if yours don't, you need to inject yourself with the hormone manually. Diabetics are therefore trapped in a stressful routine of continually checking their blood sugar and then shooting insulin whenever the need arises.
Believe it or not, this prize went to the US Government General Accountability Office (GAO) for issuing a report that recommended a report about another report of reports recommending reports... or something like that.
Debt: Add up any of their outstanding debts and future funeral expenses.
Income: Figure out how many years their family would need financial support. Take that number and multiply it by their income. We prefer this method because the rule of 10 can be limiting. Some families would require financial support for longer than 10 years. This way, you are customizing their coverage based on their family's specific needs.
Mortgage: Add the amount they still owe on their mortgage.
Education: Calculate the amount of money it would cost to provide their children with higher education. Keep in mind, this doesn’t just mean tuition. Do not forget to include cost of books, housing, and meal plans.