DIME Formula Need Components Calculator
Reconcile caller mutually exclusive DIME debt/income/mortgage/education ledger and available assets; mortgage excluded from debt by caller, no double-count inference, discounting or coverage recommendation.
Description
DIME inventories debt, income replacement, mortgage and education separately.
DIME inventories debt, income replacement, mortgage and education separately. Mutually exclusive entries prevent double-counting the mortgage.1
The returned values include Dime debt minor, Dime income minor, Dime mortgage minor, Dime education minor, Gross dime need minor, Signed net dime need minor. The How section below explains the calculation, input rules and interpretation.
When to use DIME Formula Need Components Calculator
Use DIME Formula Need Components Calculator when you need to evaluate the supplied records under the calculation and evidence rules below. No overlap detection, discounting or coverage recommendation is supplied.
Prepare the observed policy, claim or quote evidence and independently verified policy tables. Monetary fields use integer minor units in one currency: for a currency with 100 minor units per major unit, enter 12345 for 123.45. One basis point is 0.01 percentage points, so 10000 basis points represents 100%.
How to use DIME Formula Need Components Calculator and understand its results
- Prepare the observed policy, claim or quote evidence and independently verified policy tables. Monetary fields use integer minor units in one currency: for a currency with 100 minor units per major unit, enter 12345 for 123.45. One basis point is 0.01 percentage points, so 10000 basis points represents 100%.
- Enter callerNonMortgageDebtMinor, callerAnnualIncomeNeedMinor, callerIncomeYears, callerMortgageBalanceMinor, callerEducationNeedsMinor, callerAvailableProtectionAssetsMinor using the field table and calculation rules, then run the tool.
- Read dimeDebtMinor, dimeIncomeMinor, dimeMortgageMinor, dimeEducationMinor, grossDimeNeedMinor, signedNetDimeNeedMinor. The explanation below defines the units, signs, ordering and any flags or placeholder values.
- If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.
| Input field | Meaning | Value type; see rules below | Requirement |
|---|---|---|---|
| callerNonMortgageDebtMinor | Caller non mortgage debt minor | list of number | Required |
| callerAnnualIncomeNeedMinor | Caller annual income need minor | number | Required |
| callerIncomeYears | Caller income years | number | Required |
| callerMortgageBalanceMinor | Caller mortgage balance minor | number | Required |
| callerEducationNeedsMinor | Caller education needs minor | list of number | Required |
| callerAvailableProtectionAssetsMinor | Caller available protection assets minor | list of number | Required |
Enter integer money 0–10¹² per entry/value and integer income years 0–100. Debt, education and asset lists may be empty. Return all four components, safe-integer gross need and signed net need. Keep mortgage out of the debt list yourself.
gross=sum(nonMortgageDebt)+annualIncome×years+mortgage+sum(education); net=gross−sum(assets) Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.
| Output field | Meaning | Value type |
|---|---|---|
| dimeDebtMinor | Dime debt minor | number |
| dimeIncomeMinor | Dime income minor | number |
| dimeMortgageMinor | Dime mortgage minor | number |
| dimeEducationMinor | Dime education minor | number |
| grossDimeNeedMinor | Gross dime need minor | number |
| signedNetDimeNeedMinor | Signed net dime need minor | number |
{
"input": {
"callerNonMortgageDebtMinor": [
100000,
200000
],
"callerAnnualIncomeNeedMinor": 500000,
"callerIncomeYears": 5,
"callerMortgageBalanceMinor": 1000000,
"callerEducationNeedsMinor": [
300000,
400000
],
"callerAvailableProtectionAssetsMinor": [
1000000
]
},
"output": {
"dimeDebtMinor": 300000,
"dimeIncomeMinor": 2500000,
"dimeMortgageMinor": 1000000,
"dimeEducationMinor": 700000,
"grossDimeNeedMinor": 4500000,
"signedNetDimeNeedMinor": 3500000
}
}Limitations and assumptions
No overlap detection, discounting or coverage recommendation is supplied.
Numeric inputs, where present, must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Numeric lists are limited to 10,000 entries; string lists to 128 strings of at most 128 characters each. The rules above may impose smaller limits. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors.
Alternative or Complementary methods
Use Term Life Income Replacement Multiple Calculator: An undiscounted income-replacement budget multiplies annual support by caller-selected years. Existing face amounts reduce the signed gap. For a complementary task, use Home Dwelling Coverage Rebuild Cost SQFT Calculator: Rebuild cost can be budgeted by component area and matched rates, with independent fixed costs. Replacement cost differs from real-estate market value.
References
-
DIME Formula Need Components Calculator — tool.io
Similar or alternative tools
- Term Life Income Replacement Multiple Calculator
An undiscounted income-replacement budget multiplies annual support by caller-selected years. Existing face amounts reduce the signed gap.
- Home Dwelling Coverage Rebuild Cost SQFT Calculator
Rebuild cost can be budgeted by component area and matched rates, with independent fixed costs. Replacement cost differs from real-estate market value.