How Much Life Insurance Do I Need In Retirement? 
If you have a spouse , you may want to leave enough life insurance to replace the lost income to him/her by your death , over their presumed remaining years of life . You may want to have a life insurance policy that would take care of any remaining debts . If you are a business owner , you could use buy sell life insurance to enable a partner or relative to buy your share of the business . You could pass your estate to your children and grandchildren with life insurance . This reduces or eliminates taxation and maximizes what you leave to them . Finally , life insurance is a simple and quick way to pay for final expenses such as funeral . 