Insurance

Life-insurance needs analysis (capital-needs / DIME + human-life-value)

Sizes how much life insurance a household needs and the gap against coverage already in force. The capital-needs (DIME) method sums final expenses, debts, the mortgage, an education fund, an emergency fund, and the present value of the survivors' income gap over a chosen horizon (default 70% of income, discounted at a real rate), then subtracts existing assets and insurance for the recommended additional coverage. When years_to_retirement is given, it also reports the human-life-value cross-check (present value of future earnings net of self-consumption). Deterministic; not insurance advice.

post/v1/insurance/life-needs

Request

  • Base URL: https://api.numeratica.com
  • URL: https://api.numeratica.com/v1/insurance/life-needs
  • Auth: one of:
    • HTTP bearer
    • API key in header X-API-Key

Request body

annual_incomenumber required

The insured's gross annual income to replace.

income_replace_yearsinteger required

Horizon for the income need.

income_replace_fractionnumber

Share of income the survivors need. Omit for 0.70.

survivor_annual_incomenumber

Income the survivor still earns/receives (reduces the gap).

final_expensesnumber

Funeral + final medical.

debtsnumber

Non-mortgage debts to clear.

mortgage_balancenumber

Mortgage payoff.

education_fundnumber

Lump sum for children's education.

emergency_fundnumber

Cash reserve for the survivors.

existing_assetsnumber

Liquid assets available to survivors.

existing_life_insurancenumber

Coverage already in force.

real_returnnumber

Real rate for present-valuing the income need. Omit for 0.03, or set 0 for a conservative undiscounted need.

years_to_retirementinteger

Remaining working years; > 0 computes the human-life-value cross-check.

self_consumption_fractionnumber

Share the insured consumes (HLV). Omit for 0.25.

effective_tax_ratenumber

HLV uses after-tax income. Omit for gross (0).

Response

The needs analysis

result_idstring
engine_versionstring
disclaimerstring

Example response

{
  "result_id": "lifeneeds_1a2b3c4d5e6f7a8b",
  "engine_version": "life-needs-1.0.0"
}

Changes

No recorded changes to this operation across all 1 revision of this API.