The DIME Method
Apr 19, 2017
The region boasts hundreds of miles of beaches and lakeshore, some of the country's oldest forests and waterfalls. Best of all, it offers reasonable travel costs and sees far fewer travelers than big cities.
HSBC economist Hongbin Qu said the survey pointed to lost momentum in China's manufacturing sector: He expects Beijing to respond with measures to counteract the slowdown.
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.